Presented by Biovays

Pfizer told investors at the Goldman Sachs Healthcare conference today that it is seeking deals with generic drug companies.

David Simmons, president of Pfizer’s established products unit, said he wants to expand the business via internal growth, licensing agreements and acquisitions.

It appears that there was always doubt about generics and that no one really took the market seriously.

Here’s what Simmons said about the whole thing (kinda funny):

“This off-patent drug market is very big, growing fast and has margins better than anyone thought. We are committed to making this business unit grow.”

So much for “that” off-patent drug market…

In other Goldman news, Miles White, Abbott CEO, said his interest still lies in the non-pharmaceutical side of Abbott and that he wants to do “non-pharma” deals.

When asked about doing a “mega deal” or a “merger of equals,” White replied:

“That’s not happening.”

Abbott has been saying since late last year that they also want to get in on the deal action.

We’re all waiting, Miles…

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