Pfizer eyes deals to raise emerging mkts presence

By John Irish

DUBAI (Reuters) - Pfizer Inc, the world's largest drugmaker, is looking to conclude deals in emerging markets over coming months to raise its share of a market worth an estimated $80 billion, an executive said on Sunday.

Pharmaceutical companies are increasingly turning their attention to developing nations as they face tougher conditions in more mature markets.

The drugmaker struck a $68 billion deal in January to acquire U.S. rival Wyeth to help shore up profits and in May signed licensing agreements with two Indian-based companies, including Aurobindo Pharma Ltd, as it seeks new growth opportunities in generics and emerging markets.

"We will have other elements in the next few months," Pfizer's emerging market business unit president Jean-Michel Halfon told Reuters when asked if the firm was eyeing new acquisitions.

"We see opportunities coming from the financial crisis ... opportunities to build partnerships in emerging markets."

Halfon declined to give further details.

Pfizer is seeking to add $3 billion in annual sales by 2012 in developing markets and is targeting China, Brazil, Mexico, Russia, Turkey, India and to a lesser extent the Middle East to help lift its 4 percent market share, Halfon said.

"We start in position number three in emerging markets and we want to be number one."