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3M says it is exploring strategic alternatives for its global branded pharmaceuticals business and immune response modifier platform. The pharma business employs about 1,500 people worldwide. It makes and sells branded drug products related to dermatology, women's health, cardiology, and respiratory medicine. 3M says the business has been very successful but that continued success requires broad pipelines of new drugs, significant investments, and a longer term risk-reward business model than applies to most other 3M businesses.
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