AsianScientist (Jul. 24, 2011) – Merck & Co., Inc, known as MSD outside the United States and Canada, and China’s Simcere Pharmaceutical Group announced on Thursday a framework agreement to establish a joint venture in China.
The companies announced the partnership at a signing ceremony at Merck Research Laboratories in Rahway, New Jersey, with Mr. Richard T. Clark, Merck chairman, Mr. Adam Schechter, president, Merck Global Human Health, Mr. Michel Vounatsos, president, MSD in China, Mr. Jinsheng Ren, chairman and CEO of Simcere Pharmaceutical Group, and Dr. Yehong Zhang, president, Simcere Pharmaceutical Group.
Mr. Zhijun Luo, secretary of China’s Jiangsu Provincial Committee, presided over the signing ceremony.
“This partnership between Simcere and Merck is not only strategically significant for both organizations, but also a landmark event for Jiangsu’s biopharmaceutical industry,” said Luo.
The initial focus of the partnership will be branded pharmaceutical products for cardiovascular and metabolic diseases.
Specifically, in the area of cardiovascular disease, the partnership will offer a combined portfolio of selected medicines from both companies, including ZOCOR® (simvastatin), COZAAR® (losartan) and RENITEC® (enalapril) by Merck/MSD, and XINTA (levamlodipine) and SHUFUTAN (rosuvastatin) by Simcere.
In the metabolic disease area, the partnership will work to maximize access in China to sitagliptin, a DPP-IV inhibitor for the treatment of type 2 diabetes. Type 2 diabetes is increasingly recognized as a significant public health threat in China.
“This partnership is another step forward in Merck’s strategy to grow our business in China and is fully aligned with the Chinese government’s goal to increase access to quality products,” said Mr. Adam Schechter, president, Merck Global Human Health.
—–
Source: Merck & Co., Inc..
Disclaimer: This article does not necessarily reflect the views of AsianScientist or its staff.
