Abbott Labs targets emerging markets via Zydus Cadila collaboration; creates stand-alone generics unit

Aiming to further strengthen its global competitive position, US health care major Abbott Laboratories has entered a licensing and supply agreement with India's Zydus Cadila for a portfolio of pharmaceutical products that Abbott will commercialize in 15 emerging markets, enabling the company to further accelerate its emerging markets growth.

Abbott also announced the formal creation of a stand-alone Established Products Division (EPD) concentrated on expanding the market for Abbott's established pharmaceutical portfolio outside of the USA, particularly focused in emerging markets. EPD will be led by Michael Warmuth, who most recently led Abbott's Diagnostics Division.

"Our new Established Products Division, with $5 billion in sales, will focus on expanding our presence and product offerings in the world's fastest-growing emerging markets," said Olivier Bohuon, executive vice president, Pharmaceutical Products Group, Abbott. EPD is part of the Pharmaceutical Products Group reporting to Mr Bohuon.