Merck will own 51% of JV, which will initially have 30 products.!--h2>
Merck & Co. has formed a joint venture (JV) with Supera Farma Laboratorios, a Brazilian pharmaceutical company co-owned by Cristália and Eurofarma. The new JV will market, distribute, and sell a portfolio of branded and branded generic products from Merck, Cristália, and Eurofarma solely in the Brazilian retail sector.
Merck, through a subsidiary, will own 51% 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.
"Merck is pleased to partner with two of Brazil’s leading pharmaceutical companies, organizations that share our commitment to enhancing healthcare for the people of Brazil,” says Kenneth C. Frazier, chairman and CEO, 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. "This joint venture is a combination of Cristália’s creativity, Eurofarma’s commercial efficiency, and Merck’s innovation,” notes Ogari Pacheco, president of Cristália.
Cristália Labs is primarily focused on specialty areas such as psychiatry, anesthesia, and pain relief. Eurofarma operates in virtually all pharmaceutical segments through its business units focused on prescription drugs, generics, hospital and procurement, oncology, third-party services, and pearson.