Navigation Links
Watson Enters Into Agreement to Acquire Products Related to Teva's Proposed Acquisition of Barr
Date:11/25/2008

CORONA, Calif., Nov. 25 /PRNewswire-FirstCall/ -- Watson Pharmaceuticals, Inc. (NYSE: WPI), a leading specialty pharmaceutical company, today announced a definitive agreement to acquire a portfolio of generic pharmaceutical products that are being divested as a result of the proposed merger between Teva Pharmaceutical Industries, Ltd. and Barr Pharmaceuticals, Inc. The closing of the product acquisition is contingent upon the consummation of Teva's merger with Barr.

The portfolio of products consists of 17 products, including 15 FDA-approved products and 2 development-stage products. Key products in the portfolio include:

        Cyclosporine Capsules and Liquid
        Desmopressin Acetate Tablets
        Glipizide/Metformin HCl Tablets
        Mirtazapine Orally Disintegrating Tablets
        Metoclopramide HCl Tablets

"These products represent a sound complement to our extensive generics portfolio," said Paul Bisaro, President and Chief Executive Officer of Watson. He added, "We anticipate these new generics will have immediate value that we will begin to realize in early 2009."

Under the terms of the agreement, Watson will acquire the portfolio of products for an upfront payment of $36 million and will make additional payments to Teva when certain milestones are met on the development-stage products. Teva will supply the products to Watson under a Manufacturing and Supply Agreement until manufacturing is transferred to Watson or a third party.

About Watson Pharmaceuticals, Inc.

Watson Pharmaceuticals, Inc., headquartered in Corona, CA, is a leading specialty pharmaceutical company that develops, manufactures, markets, sells and distributes generic and specialty brand pharmaceutical products. Watson pursues a growth strategy combining internal product development, strategic alliances and collaborations and synergistic acquisitions of products and businesses.

For press releases and other company information, visit Watson Pharmaceuticals' Web site at http://www.watson.com.

Forward-Looking Statement

Any statements contained in this press release that refer to future events or other non-historical facts are forward-looking statements that reflect Watson's current perspective of existing trends and information as of the date of this release. Except as expressly required by law, Watson disclaims any intent or obligation to update these forward-looking statements. Actual results may differ materially from Watson's current expectations depending upon a number of factors affecting Watson's business. These factors include, among others, the difficulty of predicting the timing of the consummation of the merger between Teva Pharmaceutical Industries, Ltd. and Barr Pharmaceuticals, Inc.,; potential delays caused by the need to obtain regulatory approvals and actions, including the requirement for the Federal Trade Commission to approve the merger between Teva and Barr and the sale of the subject products to Watson Laboratories, Inc.; the impact of competitive products and pricing; market acceptance of and continued demand for Watson's products; difficulties or delays in manufacturing; the difficulty of predicting the timing or outcome of FDA or other regulatory agency approvals or actions, if any; patents and other intellectual property rights of third parties and the uncertainty of the outcome of any litigation related to such patents or intellectual property rights; and other risks and uncertainties detailed in Watson's periodic public filings with the Securities and Exchange Commission, including but not limited to Watson's Annual Report on Form 10-K for the year ended December 31, 2007.

(Logo: http://www.newscom.com/cgi-bin/prnh/20020214/WATSONLOGO)


'/>"/>
SOURCE Watson Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Watson Receives First FDA Approval for Manufacturing Product at Its Goa, India Facility
2. Watson Wyatt Identifies Major Benefit Trends During Open Enrollment Season
3. Texas Affiliates of Susan G. Komen for the Cure, Sen. Kirk Watson, Rep. Patrick Rose, Singer Kelly Willis, Breast Cancer Survivors and Activists Rally for Passage of Proposition 15
4. Watson Files FDA Application for Generic YAZ(R)
5. Watson Names Mark Durand Chief Financial Officer
6. Watson and Novartis Settle Lawsuit Over Exelon(R) Patent Litigation
7. Barr Subsidiary Sues Watson and Sandoz for SEASONALE(R) Patent Infringement
8. Watson Confirms Patent Litigation With Barr Related to Seasonale(R)
9. Watson Receives FDA Approval for Generic DuoNeb(R)
10. Watson to Distribute Alendronate Tablets
11. Medical Cost Increases to Accelerate Worldwide Over Next Five Years, Watson Wyatt Poll Finds
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/27/2016)... ... May 27, 2016 , ... With a ... medical and food industries. Aside from its GMP accreditation, Validation Center is also ... successfully certified products, services and staff. , Validation Center is ISO17025 accredited and ...
(Date:5/26/2016)... ... ... There are many ways to cook a hot dog, but new research ... their dogs straight off the grill. Of the 90 percent of Americans who say ... a hot dog, far outpacing other cooking methods such as steaming (12 percent), microwaving ...
(Date:5/26/2016)... California (PRWEB) , ... May 26, 2016 , ... ... associated with discovery of thousands of defective respirators, according to court documents and ... the case of William and Becky Tyler v. American Optical Corporation, Case No. ...
(Date:5/26/2016)... ... May 26, 2016 , ... Georgia State University College of ... programs. , Answering to the increasing demand for curricular specializations, the Certificate in ... environmental and land use law. ,  , “The demand for lawyers with specific ...
(Date:5/26/2016)... ... ... On Memorial Day, Hope For Heroes and USA Medical Card ... the country. The nonprofit Hope For Heroes partnered with the leading provider of ... disabled military veterans, as well as police, firemen, and EMS professionals across the country, ...
Breaking Medicine News(10 mins):
(Date:5/25/2016)... Inivata, a global clinical ... tumour DNA (ctDNA) analysis to improve personalised healthcare ... Clive Morris as Chief Medical Officer. ... development programme, scientific collaborations, and through to commercialisation ... in clinical outcomes for patients. Clive ...
(Date:5/24/2016)... --   , Study met ... cleansing and superiority in , Excellent ... of the ascending colon   , ... Norgine B.V. today announced new positive data from the phase III ... versus standard 2 litre PEG with ascorbate. The study met both ...
(Date:5/24/2016)... , May 24, 2016  Joe Marziani has joined VMS BioMarketing as senior ... executive officer, today. In his new role, Marziani will lead the company,s business development ... professionals to improve outcomes. Photo - http://photos.prnewswire.com/prnh/20160523/371089 ... ... ...
Breaking Medicine Technology: