Pharma seeks to offload old drugs
The industry merry-go-round of sales and swaps continues to spin. The Wall Street Journal reports that Sanofi, Merck and GlaxoSmithKline are independently exploring ways to offload their portfolios of older drugs. Insiders tell the Journal that Merck has been chatting up possible buyers of a series of drugs for about $15 billion, and that Sanofi is thinking of a joint venture to house some of its mature products.
GlaxoSmithKline, which recently participated in an asset swap with Novartis is also said to be contemplating divestment of older products.