Merck (MRK) Forms Joint Venture to Sell Generics in Brazil

Merck Forms Joint Venture to Sell Generics in Brazil

Aiming to reposition as the patent cliff is coming for many companies to lose their hold on blockbuster drugs, Merck & Co. (NYSE:MRK) said this morning that it has formed a joint venture with Supera Farma Laboratorios S.A., a Brazilian pharmaceutical company, to market, distribute and sell generic drugs in Brazil. The new JV company will sell generics from Merck as well as Cristalia Produtos Quimicos Farmaceuticos and Eurofarma Laboratirios, the two companies that currently own Supera. The JV is anticipated to launch later this year.

Merck will be seeing its blockbuster asthma drug, Singulair, coming off patent later this year. Sales from Singulair topped $3 billion in 2010.

“Merck is pleased to partner with two of Brazil’s leading pharmaceutical companies — organizations that share our commitment to enhancing health care for the people of Brazil,” said Kenneth C. Frazier, chairman and chief executive officer, Merck. “This venture is an important step forward in our strategy to grow our business in key markets and improve global access to our medicines and vaccines.”

The initial portfolio of the JV will include approximately 30 products across a range of therapeutic areas.

Cristalia and Eurofarma will maintain their independent businesses in Brazil.Merck will take 51 percent of the new venture with Cristalia and Eurofarma splitting the remaining 49 percent. Financial terms of the deal were not disclosed.

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Merck Forms Joint Venture to Sell Generics in Brazil

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