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Merck to invest $ 15 Million in India
By siliconindia staff writer
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Monday, 17 January 2005, 20:30 IST
NEW DELHI: One of the worldÂ’s largest pharma companies, Merck & Co is reentering India and will invest US $ 15 million in a new subsidiary in India. Merck Sharp & Dohme BV, Netherlands - will own the new subsidiary by investing 99.99 percent and Merck Sharp & Dohme Finance BV Netherlands holding the rest.
The US based company will invest the amount over the next five years to import, manufacture and sell its products and source raw materials for its worldwide operations.
The company said it would also conduct clinical research in India and source information technology services.
It will mark the companyÂ’s second coming to India after it exited India in 1986 by selling its 50 percent stake in Merind Pharma. Merind Pharma was eventually sold to Wockhardt in 1994.