By Ransdell Pierson NEW YORK (Reuters) - Leading global pharmaceutical companies have started to view their vast portfolios of older, established prescription drugs as vehicles for raising large sums of cash to fuel development of new medicines with far higher profit margins. France's Sanofi and U.S. drugmakers Merck & Co and Abbott Laboratories are exploring selling off their mature drugs that have lost patent protection, Reuters reported this week, citing people familiar with the plans. The divestments could bring in more than $7 billion for Sanofi, north of $15 billion for Merck and over $5 billion for Abbott, the sources said, giving them considerable firepower to develop, or buy, promising experimental medicines. "It makes sense to sell your low-growth assets that drag down profit margins and to redeploy that cash to higher-value innovative biotech assets," said John Boris, an analyst with SunTrust Robinson Humphrey.
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