Most recently, biotechnology giant Amgen said it was partnering with generic drug maker Watson Pharmaceuticals Inc.

WSJ: FDA Sets Path for Biotech Drug Copies

Pfizer will be manufacturing one of the no-name Lipitors, the so-called authorized generic, that will be sold by Watson Pharmaceuticals Inc.

WSJ: A Users' Guide as Generic Lipitor Goes on Sale

Among the largest underlying components of FXH, in trading today Lincare Holdings Inc. ( NASD: LNCR) is trading flat, Watson Pharmaceuticals, Inc. ( NYSE: WPI) is up about 0.3%, and Forest Laboratories, Inc. ( NYSE: FRX) is higher by about 0.7%.

FORBES: FXH, LNCR, WPI, FRX: ETF Outflow Alert