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Sun Pharmaceutical Industries Ltd Denies Calling Off JV With Merck & Co.

Published: Nov 17, 2014

Sun Pharma Denies Calling Off JV With Merck

November 17, 2014

By Riley McDermid, BioSpace.com Breaking News Editor

Indian biopharma Sun Pharmaceutical Industries Ltd protested Monday that it has not ended its three-year-old joint venture with Merck & Co. , following media reports this week that the two companies had terminated their almost four year relationship.

India’s largest drugmaker made the announcement in a clarification letter to India’s National Stock Exchange.

"There is no termination of JV of Sun Pharma with Merck (MSD)", stated the company in its letter dated Nov. 17, 2014. Sun Pharma also said it was not aware of any such development.

In 2011, Merck & Co. partnered with Sun Pharma to provide drugs for the emerging markets including Asia Pacific, Latin America, Eastern Europe, the Middle East and Africa.

Under the terms of the deal, Sun Pharma would have produced the drugs domestically (and more cheaply) in India, while Merck would have steered the process via its “regulatory competence.”

Merck & Co. had not commented as of Monday.

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