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news.Schering-Plough Corporation is to establish a subsidiary based in Sao Paulo, Brazil, to market its core products. The company will also restructure its agreement with Mantefarma, a privately held company in Brazil.
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The new Brazilian subsidiary, Schering-Plough Produtos Farmaceuticos Limitada, will assume commercial responsibility for Schering-Plough specialty care products, including Peg-intron, Temodal and Caelyx. The company also will market the primary care products Zetia, Zetsim, Claritin, Clarinex and Nasonex.
Schering-Plough entered into an agreement in 1991 with Mantefarma to market and distribute several products through Industria Quimica e Farmaceutica Schering-Plough, S.A. Under a new agreement, Mantefarma, which will now be known as Mantecorp, will continue to manufacture a number of Schering-Plough primary care products.
“The actions announced today are part of Schering-Plough's long-term global geographic expansion strategy,” said Fred Hassan, chairman and CEO, Schering-Plough Corporation. “Investing in the Latin America region and other emerging markets represents another step in our journey to transform Schering-Plough into a global, high-performance health care company.”