Merck Establishes Pharma Joint Venture in Brazil
WHITEHOUSE STATION, New Jersey (AP) - Merck & Co. Inc. said on Feb. 15 that it is establishing a joint venture with two Brazilian drug companies to sell its products in one of the world's key pharmaceutical markets.
Merck said it will own a 51% stake in its joint venture with Supera Farma Laboratorios, a company that is owned by Brazilian drugmakers Cristalia Labs and Eurofarma Laboratorios.
The joint venture will be established later in 2012, and it will make and sell new drugs and branded generics produced by all three companies. It will start with about 30 products and have its own sales force, but the parent companies will support its sales force training and other activities.
Cristalia Labs is a privately held Brazilian drug company, and Eurofarma is one of the biggest drugmakers in Brazil. Merck said it will continue running its own business in Brazil, as will Cristalia and Eurofarma.
The Associated Press