Reiterating the strength of its M&A-heavy strategy, Valeant CEO Michael Pearson touted the company's deal record during its second quarter earnings call.

With major consumer product divisions potentially in play, analysts take a look at possible buyers and sellers in the OTC space. Switches and consumer business expansion plans are also likely to shape 2014.

With major consumer product divisions potentially in play, analysts take a look at possible buyers and sellers in the OTC space. Switches and consumer business expansion plans are also likely to shape 2014.

With Merck & Co. and Novartis potentially divesting consumer product divisions, analysts see Bayer and Reckitt Benckiser as possible buyers looking to increase their OTC presence. Switches, consumer business expansion plans are also likely to shape 2014.