Merck Sharp & Dohme (MSD)
Merck Sharp & Dohme (MSD) is a subsidiary of German chemical and pharmaceutical Company Merck KGaA.
"A major U.S. pharmaceutical company, Merck Sharp & Dohme (MSD) has signed a contract for the licensed production of medicines in Iran, head of Iran's Drug Importing Union, Nasser Riahi said, ISNA news agency reported on Feb. 25. The MSD is an American pharmaceutical company and is one of the largest pharmaceutical companies in the world. Its headquarters is currently located in the state of New Jersey. The company's revenues reportedly stood at $48 billion in 2011. It was established in 1891 as the United States subsidiary of the German company now known as Merck KGaA. Remarking on the new hopeful condition for Iran's pharmaceutical industry, Riahi said that ‘Iran has a high capacity for investment, in particular in the pharmaceutical industry.’ He forecasted that in the near future a number of companies from around the world will enter the Iran's market…’The U.S. MSD which is one of the largest pharmaceutical companies in the world wants to manufacture its products under license in Iran,’ he said, adding that in order to gain the trust of the Iranian partner, the U.S. company has reduced its product prices by 30 to 40 percent. Riahi remarked that major Swiss-based multinational drug maker Novartis has started production in Iran and signed a contract. A Japanese company also has signed an agreement for the production of medicines in Iran, he added. He remarked that the MSD is the first U.S. drug company which has signed a cooperation contract with Iran since the 1979 Islamic revolution…'About 50 percent of necessary raw material for producing the medicine is imported,' he added. Iran imported 16,000 tons of drugs worth $1.468 billion, during the previous Iranian calendar year (which ended on March 20).” (Trend, “U.S. pharmaceutical giant in Iran,” 2/26/14)