Merck Inks Brazilian JV

Global pharmaceutical company Merck has struck a joint venture agreement with Brazil’s Supera Farma Laboratorio, a pharmaceutical firm, for the distribution of generic pharmaceuticals. In the deal, Merck will directly partner with Cristalida and Eurofarma, two of Brazil’s largest pharmaceutical companies and co-owners of Supera, to distribute and promote a portfolio of 30 products, the company says. Merck will control the Super Farma JV with a 51% stake, and the remaining stake held by Cristalida and Eurofarma. The Brazilian partners are giving Merck control in exchange for contributing a number of product brands. Merck officials declined to give more specifics about the deal and could not say how many of the 30 products held by the JV will come from Merck. A spokeswoman does say that the partners expect the JV to reach $500m in sales by 2017.