A Branded Generic is simply 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 in that have already faced the patent expiry of traditional pharmaceutical compounds. 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 certain countries in Central and Eastern Europe, Latin America, Southeast Asia and South Africa. Because consumers in these Emerging Markets often pay out-of-pocket for medicine and cannot afford the expensive brands, we provide high-equality and affordable medicines to the growing demand. As spending on health care in these countries continues to rise in line with their economic growth, we expect the opportunity for Valeant to broaden our market share will also continue to increase.