Medical economics

GSK, Pfizer to merge consumer healthcare units

Pharmaceutical giants GlaxoSmithKline and Pfizer on Wednesday announced a merger of their consumer healthcare units that produce over-the-counter medicines.

Medications

GlaxoSmithKline opts to hold on to HIV business

British-based drugmaker GlaxoSmithKline opted Wednesday to keep its stake in its stand-alone HIV business as it set out its strategy following a big deal with Switzerland's Novartis.

Medical research

Google's health startup forges venture with AbbVie

Google's ambitious health startup is teaming up with biotechnology drugmaker AbbVie in a $500 million joint venture that will try to develop new ways to treat cancer and other diseases such as Alzheimer's.

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Joint venture

A joint venture (often abbreviated JV) is an entity formed between two or more parties to undertake economic activity together. The parties agree to create a new entity by both contributing equity, and they then share in the revenues, expenses, and control of the enterprise. The venture can be for one specific project only, or a continuing business relationship such as the Fuji Xerox joint venture. This is in contrast to a strategic alliance, which involves no equity stake by the participants, and is a much less rigid arrangement.

The phrase generally refers to the purpose of the entity and not to a type of entity. Therefore, a joint venture may be a corporation, limited liability company, partnership or other legal structure, depending on a number of considerations such as tax and tort liability.

This text uses material from Wikipedia, licensed under CC BY-SA