According to the news provider, New Jersey-based Merck, which is one of the largest drug companies in the world, will be forming a joint venture with Sun Pharmaceutical, which is an India-based generic drugmaker.The companies said that approximately 90 percent of the growth in pharmaceutical sales over the next decade will stem from emerging markets, with the majority coming from sales of brand-name generic medications.
According to the companies, the joint venture will be managed by a leadership team comprised of senior management officials from both firms.
Merck, which is based in Whitehouse Station, New Jersey, was established in the US in 1891 and seeks to develop new medicines and therapies to treat a wide variety of diseases around the world, according to the company's Web site.