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Merck-Simcere JV starts business in Pudong
By Ye Zhen |
September 13, 2012, Thursday
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SMSD, a joint venture between US pharmaceutical giant Merck and Nanjing-based Simcere Pharmaceutical Group, went into operation yesterday after more than one year's preparation.
Merck, the world's second-largest drug maker, holds a 51 percent stake in the joint venture, which is located in Shanghai's Pudong New Area. SMSD currently has about 400 employees and the number is expected to double by the end of this year.
SMSD will initially sell medicines for cardiovascular and metabolic diseases with a focus on low-income groups in China. The medicines are produced in existing factories owned by the two parent companies before a new manufacturing facility is built in Nanjing, Jiangsu Province.
Merck, the world's second-largest drug maker, holds a 51 percent stake in the joint venture, which is located in Shanghai's Pudong New Area. SMSD currently has about 400 employees and the number is expected to double by the end of this year.
SMSD will initially sell medicines for cardiovascular and metabolic diseases with a focus on low-income groups in China. The medicines are produced in existing factories owned by the two parent companies before a new manufacturing facility is built in Nanjing, Jiangsu Province.
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