Merck, Sun Pharma in generics JV
11 April 2011
Global healthcare leader Merck & Co Inc and India-based multinational Sun Pharmaceutical Industries Ltd have set up a joint venture to develop, manufacture and commercialise new combinations and formulations.
The joint venture will develop and market incrementally innovative, branded generics in the emerging markets, the two companies said in a joint statement today.
The joint venture will be structured through subsidiaries of Merck and Sun Pharma. The companies did not disclose financial details of the joint venture.
A joint board consisting of members of senior management from Merck and Sun Pharmaceuticals will lead the joint venture.
"Merck's emerging markets strategy is driven by our overarching focus on applying innovation across our business from introducing novel compounds to broadening our focus on innovative branded generics," said Kevin Ali, president, emerging markets, Merck.
"By combining forces with Sun Pharma, we are complementing our innovative product portfolio with a solid foundation for addressing the diverse needs of patients, physicians and governments across the emerging markets," he added.