Generics are big business and Pfizer wants a piece of the action.
The company said today it has inked a set of deals with Indian generics maker Aurobindo Pharma for rights to 39 generic oral drugs in the U.S. and 31 in Europe, including 11 in France alone. The drugs are for heart disease and neurological disorders, among other things. The company will sell the drugs in the U.S. through its Greenstone generics unit.
Interesting approach. Most manufacturers are finding ways to push brand names. I won't say Pfizer is waiving the white flag but this is a positive for consumers.
Pfizer said it expects to reap $200 million in annual sales from the recent agreements with Aurobindo by 2013.
Sweet.
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