A branded generic is a drug that is bioequivalent to the original product, but is now marketed under another company's brand name. Branded generics are an attractive business for Valeant’s Emerging Markets operations as they enjoy low research and development costs and sustainable sales. Our portfolio for this business includes products we have internally developed, products we have licensed, and products we distribute for third parties. Our branded generics cover a broad range of treatments including antibiotics, antifungal medications and diabetic therapies among many others.
Our Emerging Markets operations are currently located in a range of countries in Europe and the Middle East, Latin America and Asia Pacific. Because consumers in these Emerging Markets often pay out-of-pocket for medicine and cannot afford expensive brands, we provide high-quality and affordable medicines to meet the growing demand. As spending on healthcare in these countries continues to rise in line with economic growth, we expect the opportunities for Valeant to broaden market share will also continue to increase.