JOHANNESBURG, June 24 (Reuters) – South African drugs maker Adcock Ingram (AIPJ.J) will team up with Merck & Co (MRK.N) to jointly promote each other’s medicines, increasing both companies’ presence in Africa’s biggest economy.
South Africa’s second-biggest generic drugs maker, which scrapped a 2 billion rand ($264 million) takeover bid for rival Cipla Medpro (CMPJ.J) last year, is looking for new ways to better compete with larger rival Aspen Pharmacare (APNJ.J).
Adcock Ingram’s Chief Executive Officer Jonathan Louw said in a statement on Thursday the collaboration “will enhance our diverse portfolio and broaden our pipeline of new products in the market place.”
The companies will jointly promote drugs from various therapeutic areas that include asthma, dermatology, migraine as well as over-the-counter medicines.
Merck, known as MSD outside the U.S. and Canada, said the deal formed part of its long-term strategy to expand in emerging markets. The financial details of the deal were not disclosed. (Reporting by Tiisetso Motsoeneng) ($1 = 7.575 rand)