1/14/2014 7:08:41 AM
Drugmakers Valeant Pharmaceuticals International Inc (VRX.TO), Actavis Plc (ACT.N) and Mylan Inc (MYL.O) have all expressed interest in buying Pfizer Inc's (PFE.N) branded generics business, but no active discussions are going on at this time, according to three people close to the matter. The "established products" unit, which makes off-patent drugs, had global sales of $7 billion in the first nine months of 2013, accounting for 18 percent of Pfizer's revenue. Pfizer said in July it planned to separate its commercial operations into three units -- two mainly for patent-protected brands and the third for generics. According to the people close to the matter, Pfizer is aware of each of the companies' interest but is not yet ready to entertain a deal as it prepares the groundwork for a potential separation of the generics business.
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