Merck (NYSE:MRK), known as MSD outside the United States and Canada, has
announced the formation of a new joint venture (JV) with Supera Farma
Laboratorios S.A., a Brazilian pharmaceutical company co-owned by
Cristália and Eurofarma.
The new JV will market, distribute and sell a portfolio of innovative
pharmaceutical and branded generic products from Merck, Cristália and
Eurofarma solely in the Brazilian retail sector.
"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."
By establishing the JV with Supera, Merck will gain additional local
expertise, an expanded portfolio of products and a strong distribution
network to facilitate wider access to medicines for the people of
Brazil. The initial portfolio of the JV will include approximately 30
products across a range of therapeutic areas. The JV will have its own
dedicated sales force separate from Merck, Cristália and Europharma, but
will leverage the parent companies' infrastructures for activities such
as sales force training. The parent companies will continue to maintain
separate businesses in Brazil.
Ogari Pacheco, president of Cristália, commented, "This joint venture is
a combination of Cristaliá's creativity, Eurofarma's commercial
efficiency and Merck's innovation."
Maurizio Billi, president of Eurofarma added, "We are sharing learnings
and combining the very best of each company, making this joint venture
more competitive in the Brazilian market. Partnering with Merck is a
strategic move to advance access to innovative pharmaceutical products."
Merck, through a subsidiary, will own 51 percent of the JV, and
Cristália and Eurofarma will collectively own 49. The venture will be
managed by a joint board and leadership team consisting of members of
senior management from the three companies. Establishment of the JV is
subject to satisfying certain agreed upon closing conditions but is
scheduled to be completed later in 2012.
About Cristália Labs
Cristália Labs (Cristália Produtos Quimicos Farmaceuticos Ltda.), a privately held Brazilian company founded in 1972, produces high quality medicines to address medical needs. Primarily focused on specialty areas such as psychiatry, anesthesia and pain relief, the company has become a healthcare leader across Latin America. Today, in addition to covering all territories within Brazil, Cristália exports reach approximately 40 countries across Latin America, the Middle East, Asia and Africa.
Cristália Labs (Cristália Produtos Quimicos Farmaceuticos Ltda.), a privately held Brazilian company founded in 1972, produces high quality medicines to address medical needs. Primarily focused on specialty areas such as psychiatry, anesthesia and pain relief, the company has become a healthcare leader across Latin America. Today, in addition to covering all territories within Brazil, Cristália exports reach approximately 40 countries across Latin America, the Middle East, Asia and Africa.
The company is a strong supporter of the Brazilian scientific
community and a large number of universities within the country. The
company also develops social responsibility and sustainability programs
in the areas of education, the donation of medicines, and the offer of
aid and assistance to poor communities.
About Eurofarma Laboratorios Ltda.
Established in 1972, Eurofarma ranks among the leading pharmaceutical companies in Brazil. The company operates in virtually all pharmaceutical segments through its Business Units - Prescription Drugs, Generics, Hospital & Procurement, Oncology, Third-Party Services and Pearson (Veterinary). The company counts on the largest medical sales force in the country and performs about 380,000 sales calls per month. In 2010, for the seventh year in a row, the company ranked among the list of best companies to work for published by Exame/ Você S/A magazine. By 2015, it plans to have a strong international presence by covering 90% of the Latin-American market. The company's most recently developed manufacturing facility in Itapevi, Brazil aims to greatly increase the company's production capacity, making it an important production source for both the Brazilian and international markets.
Established in 1972, Eurofarma ranks among the leading pharmaceutical companies in Brazil. The company operates in virtually all pharmaceutical segments through its Business Units - Prescription Drugs, Generics, Hospital & Procurement, Oncology, Third-Party Services and Pearson (Veterinary). The company counts on the largest medical sales force in the country and performs about 380,000 sales calls per month. In 2010, for the seventh year in a row, the company ranked among the list of best companies to work for published by Exame/ Você S/A magazine. By 2015, it plans to have a strong international presence by covering 90% of the Latin-American market. The company's most recently developed manufacturing facility in Itapevi, Brazil aims to greatly increase the company's production capacity, making it an important production source for both the Brazilian and international markets.
About Merck
Today's Merck is a global healthcare leader working to help the world be well. Merck is known as MSD outside the United States and Canada. Through our prescription medicines, vaccines, biologic therapies, and consumer care and animal health products, we work with customers and operate in more than 140 countries to deliver innovative health solutions. We also demonstrate our commitment to increasing access to healthcare through far-reaching policies, programs and partnerships.
Today's Merck is a global healthcare leader working to help the world be well. Merck is known as MSD outside the United States and Canada. Through our prescription medicines, vaccines, biologic therapies, and consumer care and animal health products, we work with customers and operate in more than 140 countries to deliver innovative health solutions. We also demonstrate our commitment to increasing access to healthcare through far-reaching policies, programs and partnerships.
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