Pfizer to purchase Brazil drug company

SAO PAULO (AP) - A leading business newspaper in Brazil says U.S. drug manufacturer Pfizer Inc. is negotiating to buy a generic drug manufacturer in Brazil.

The newspaper Valor Economico says talks between Pfizer and Laboratorio Teuto Brasileiro are at an advanced stage and a could be announced in the next few weeks. Both Pfizer and Teuto declined to comment Friday.

Pfizer's reported interest in Teuto comes just days after Brazil's top appeals court ruled that Pfizer's patent on Viagra will expire next month in Brazil, opening the way for generic drug producers to sell copies of the drug.

The company has said Brazil is the third-largest market for Viagra sales.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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