Shearman & Sterling is representing Simcere Pharmaceutical Group in its establishment 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, focused on providing significantly improved access to quality medicines in major therapeutic areas in China. The partnership includes an equity joint venture that will 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 pursuant to 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 also agreed to explore the possibility of establishing a second joint venture that would format and package sitagliptin under a trademark other than JANUVIA® of Merck in China.
Merck is one of the global leading healthcare companies. Simcere Pharmaceutical Group is one of China’s leading pharmaceutical companies, specializing in development, manufacturing, and marketing of branded generic and proprietary pharmaceuticals in China. Simcere is traded on the New York Stock Exchange under the ticker SCR.
Beijing M&A partner Ling Huang led the Shearman & Sterling team, working with 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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