3M to Explore Strategic Alternatives for its Branded Pharmaceuticals Business.ST. PAUL St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery , Minn. -- 3M today announced that it is exploring strategic alternatives for its global branded pharmaceuticals business and immune response immune response n. An integrated bodily response to an antigen, especially one mediated by lymphocytes and involving recognition of antigens by specific antibodies or previously sensitized lymphocytes. modifier (programming) modifier - An operation that alters the state of an object. Modifiers often have names that begin with "set" and corresponding selector functions whose names begin with "get". platform. 3M Pharmaceuticals Division, part of 3M's Health Care business, discovers, develops, manufactures and sells branded drug products related to dermatology dermatology (dûrmətŏl`əjē), branch of medicine concerned with diagnosis and treatment of diseases and disorders of the skin. , women's health Women's Health Definition Women's health is the effect of gender on disease and health that encompasses a broad range of biological and psychosocial issues. , cardiology cardiology Medical specialty dealing with heart diseases and disorders. It began with the 1749 publication by Jean Baptiste de Sénac of contemporary knowledge of the heart. Diagnostic methods improved in the 19th century, and in 1905 the electrocardiograph was invented. and respiratory medicine. Its most well-known brands are Aldara, Difflam, Duromine, Tambocor, Maxair, Metrogel-Vaginal and Minitran. There are approximately 1,500 employees in the business worldwide. 3M's branded pharmaceuticals business has been very successful. However, in today's very competitive pharmaceutical marketplace, 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. "The best way for this business to grow is for it to be free to pursue separate strategies under the direction of a dedicated pharmaceutical industry company with a business model better suited to maximize its potential," said Brad Sauer, executive vice president, 3M Health Care. "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." To assist the company in exploring its strategic alternatives, 3M has retained Goldman, Sachs & Co. as its investment banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. . 3M Health Care, one of 3M's six major business segments, provides world-class innovative products and services to help health care professionals improve the practice and delivery of patient care. 3M will continue to grow its vibrant Health Care businesses globally serving multiple market segments. About 3M -- A Global, Diversified Technology Company Every day, 3M people find new ways to make amazing a·maze v. a·mazed, a·maz·ing, a·maz·es v.tr. 1. To affect with great wonder; astonish. See Synonyms at surprise. 2. Obsolete To bewilder; perplex. v.intr. things happen. Wherever they are, whatever they do, the company's customers know they can rely on 3M to help make their lives better. 3M's brands include icons such as Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti. Serving customers in more than 200 countries around the world, the company's 69,000 people use their expertise, technologies and global strength to lead in major markets including consumer and office; display and graphics; electronics and telecommunications; safety, security and protection services; health care; industrial and transportation. Aldara, Difflam, Duromine, Tambocor, Maxair, Metrogel-Vaginal, Minitran, Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti are trademarks of 3M. |
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