Pfizer ( PFE) entered into a series of agreements with pharmaceutical company Aurobindo Pharma of India to commercialize medicines that are no longer patent protected and have lost market exclusivity in the U.S. and Europe.

Under the terms of the agreements, Pfizer acquired rights to 39 generic solid oral dose products in the U.S. and 20 in Europe. The medicines cover a broad range of therapeutic areas including cardiovascular disease and central nervous system disorders.

The medicines will be commercialized in the U.S. through its Greenstone subsidiary, Pfizer said in a press release Tuesday.

The deal also includes Pfizer acquiring the rights to 12 sterile injectable products, including antibiotics, in the U.S. and Europe.

The drugmaker said the agreements are an expansion of a five-product U.S. deal it and Aurobindo began in July 2008. The two deals together bring 44 solid oral dose products to Pfizer's portfolio in the U.S.

Pfizer's Greenstone subsidiary already sells more than 300 Pfizer medicines that have lost patent protection but still brought in a combined $10 billion last year. Those include former blockbusters Zoloft for depression, Norvasc for high blood pressure, Zithromax for bacterial infections and Medrol for inflammatory and immune conditions such as asthma, arthritis and lupus.

"We're targeting by 2013 to generate more than $1 billion in incremental sales for the company through portfolio expansion," David Simmons, president and general manager of Pfizer's established products unit, told the Associated Press in an interview.

He said Pfizer also is considering how best to market off-patent drugs in emerging markets such as China, Russia and India. Simmons noted that the market for off-patent prescription drugs is now about $270 billion but is expected to nearly double to more than $500 billion in the next five years.
Copyright 2008 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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