Pfizer Inc. (NYSE: PFE) announced Wednesday it will sell 40 off-patent drugs manufactured by Strides Arcolab, an Indian pharmaceutical company, and its joint ventures, according to Associated Press.
The financial terms of the deal were not disclosed.
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The companies said Pfizer will sell sterile injectable and oral drugs, many of which are treatments for cancer. The generic drugs are made by Strides Arcolab and two joint ventures between that company and Aspen Pharma of South Africa.
Pfizer will sell the products through its established products business unit, which was created in a reorganization in 2008. Pfizer closed a similar deal in March 2009, entering a marketing partnership with Aurobindo Pharma Ltd. of India.
Pfizer shares dropped six cents to $18.60 in afternoon trading.
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