Merck & Co And Chugai In OTC JV
The Japanese pharmaceutical company Chugai and US company Merck & Co are setting up a joint venture in Japan to develop and market over-the-counter products.
Japan's OTC market is growing rapidly and the move gives Merck access to it. The US firm already has an affiliate company in Japan, Banyu Pharmaceutical, which focuses on prescription drugs. The agreement with Chugai will not affect Banyu.
Under the terms of the agreement, both companies will contribute therapeutic OTC products to the JV, which will be called Chugai MSD. Chugai will provide 70% of the 2.5 billion yen capital and also brings a highly-developed infrastructure, an experienced sales forces and a broad distribution network.
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