Merck & Co and Sun Pharmaceutical are winding down their 2011 joint venture focused on developing branded generics for emerging markets outside of India.

Sun Pharma said the move follows a change of strategic priorities for both partners, which have decided not to invest further in the JV.

Dilip Shanghvi, Sun’s managing director, reportedly told analysts that the firm’s investment in the venture is not significant and has been factored into the company’s financials over time, according to The Hindu Business Line.

Other agreements between the firms - the co-marketing deal for Merck’s diabetes drug Januvia (sitagliptin) and licensing deal for Merck's investigational psoriasis therapy tildrakizumab - remain unaffected by the decision, the Indian generics giant stressed.