Leading global pharmaceutical companies have started to view their vast portfolios of older, established prescription drugs as vehicles for raising large sums of cash to fuel development of new medicines with far higher profit margins.France's Sanofi and U.S. drugmakers Merck & Co and Abbott Laboratories are exploring selling off their mature drugs that have lost patent protection, Reuters reported this week, citing people familiar with the plans. Officials at the three companies declined to comment.The divestments could bring in more than $7 billion for Sanofi, north of $15 billion for Merck and over $5 billion for Abbott, the sources said, giving them considerable firepower to develop, or buy, promising experimental medicines.
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture, and sale of a portfolio of science-based health care products. Shares of ABT fell by 0.28% or $-0.11/share to $38.56. In the past year, the shares have traded as low as $32.70 and as high as $40.49. On average, 8128540 shares of ABT exchange hands on a given day and today's volume is recorded at 4775012.
Merck & Co., Inc. (Merck) is a global health care company that delivers health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products, which it markets directly and through its joint ventures. Shares of MRK fell by 2.35% or $-1.4/share to $58.22. In the past year, the shares have traded as low as $44.62 and as high as $59.84. On average, 11573000 shares of MRK exchange hands on a given day and today's volume is recorded at 12079563.
Sanofi, formerly Sanofi-Aventis is a global and diversified healthcare company. Shares of SNY fell by 0.7% or $-0.38/share to $54.03. In the past year, the shares have traded as low as $46.95 and as high as $55.94. On average, 1642360 shares of SNY exchange hands on a given day and today's volume is recorded at 1884593.
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