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Publish Date : 26-Nov-2013

Shearman & Sterling represents Simcere Pharmaceutical Group in its formation of a strategic partnership with Merck & Co., Inc., acting through an affiliate and known as Merck Sharp & Dohme Corp. outside the United States and Canada with focus on offering significantly better access to quality medicines in major therapeutic areas in China.
The partnership comprises an equity joint venture to be owned 51% by an affiliate of Merck and 49% by Simcere or one of its affiliates.

Simcere and MSD agreed the forms of agreements after which the joint venture will co-promote and distribute selected medicines from both companies, including ZOCOR (simvastatin), COZAAR (losartan) and RENITEC (enalapril) by Merck/MSD, and XINTA (levamlodipine) and SHUFUTAN (rosuvastatin) by Simcere. The parties will explore the possibility of establishing a second joint venture to format and package sitagliptin under a trademark other than JANUVIA of Merck in China.

Merck is one of the major global healthcare companies. Simcere Pharmaceutical Group is one of China's major pharmaceutical companies focus on development, manufacturing, and marketing of branded generic and proprietary pharmaceuticals in China.

The Shearman & Sterling team included counsel Brian Wheeler (Tokyo-Mergers & Acquisitions) and associates Ning Liu (Beijing-Mergers & Acquisitions) and Yan Xiao (Beijing-Capital Markets). Other Shearman & Sterling attorneys involved in the transaction are partners Tina Patel (Palo Alto-Intellectual Property Transactions) and Shuang Zhao (Hong Kong-Capital Markets).

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