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Dec 21, 2007

ARKRAY to establish sales network throughout India
ARKRAY to establish a joint venture with a major Indian pharmaceutical company

ARKRAY Inc. (ARKRAY), Kyoto, Japan and Nicholas Piramal India Limited (NPIL) have established a joint venture to market a small blood glucose meter and its sensor in the Indian market effective 19th December. This joint company with its headquarters in Mumbai, the biggest business city in India, will maintain 8 bases in order to swiftly handle an expansion of a small blood glucose meters throughout India and to accelerate the building of an SMBG market.

Despite having world’s largest number of diabetic patients (40.9 million: *IDF), the number of SMBG users in India is very small. One out of ten people living in Mumbai is said to be pre-diabetic, and the number of diabetic patients has been on the increase in line with the development of the Indian economy.

It is expected that the number of SMBG users will increase at an accelerated pace in tandem with a rise in household income levels as the Indian economy grows. This joint venture between NPIL, with its sales network throughout India and established brand image, and ARKRAY with an established reputation of being a pioneer of SMBG will make a full-fledged entry to the Indian market as well as gaining an increased market share in India.
* International Diabetes Federation

1.Joint company overview
Company name ARKRAY PIRAMAL Medical Private Limited
Headquarters Republic of India, Maharashtra state, Mumbai
Capital : 60 million INR (Approx. 180 million yen)
Division of capital ARKRAY 51%
NPIL 49%
Sales areas (plan) Main Indian cities
(Mumbai, Delhi, Kolkata, Chennai, Bangalore, Hyderabad, Surat, Ludhiana)

2. Parent company overview
Company name Nicholas Piramal India Limited
President Ajay G. Piramal
Headquarters Nicholas Piramal Tower, Ganpatra Kadam Marg, Lower Parel, Mumbai 400 013 India
Telephone +91-22-3046-6412(Vijay Sathye, Sagar Gokani)
Establishment 26 April 1947
Capital 801.7million INR (approx. 2.4 billion JPY)
Staff Approx. 7,500
Business type Pharmaceutical
Business bases Mumbai, Delhi, Kolkata, Chennai, Bangalore, Hyderabad, Surat, Ludhiana