3M Ponders Fate Of Pharmaceuticals

3M says it is exploring strategic alternatives for its global branded pharmaceuticals business and immune response modifier platform. The unit, part of the company???s health care 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.

"We believe our branded pharmaceuticals business is a valuable asset, and there are more opportunities for technology and market synergies with a company other than 3M," says Brad Sauer, executive vice president of 3M Health Care.