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news.Merck has established a new joint venture (JV) with Supera Farma Laboratorios to commercialize pharmaceutical and branded generic products in Brazil.
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Supera Farma is a Brazilian pharmaceutical company co-owned by Cristalia and Eurofarma.
Merck will own 51% of the JV, managed by a joint board and leadership team, and Cristalia and Eurofarma will collectively own 49%.
Establishment of the JV is subject to satisfying certain agreed upon closing conditions but is scheduled to be completed later in 2012, Merck said.
The JV will have its own sales force separate from Merck, Cristlia and Europharma and will use the parent companies’ infrastructures for activities such as sales force training.
With the establishment of JV, Merck is expected to gain additional local expertise, expanded product portfolio and a strong distribution network in the region.
Merck chairman and CEO Kenneth Frazier said the venture is an important step forward in their strategy to grow business in key markets and improve global access to their medicines and vaccines.