Navigation Links
Watson Receives FTC Clearance for Arrow Acquisition

MORRISTOWN, N.J., Dec. 2 /PRNewswire-FirstCall/ -- Watson Pharmaceuticals, Inc. (NYSE: WPI) today announced that the Federal Trade Commission (FTC) has accepted a proposed consent order for public comment relating to Watson's pending acquisition of privately held Arrow Group and has granted early termination of the Hart Scott Rodino waiting period, thereby permitting the parties to close the transaction. The parties have now obtained all regulatory approvals required to close the transaction. Accordingly, the parties expect to consummate the acquisition of Arrow by Watson today.

Under the terms of a consent order with the FTC, Watson and Arrow have agreed to the following conditions to complete the transaction:

  • Watson will sell to Impax Laboratories, Inc. its Abbreviated New Drug Application (ANDA) for Cabergoline, the generic equivalent to Dostinex®.
  • Cobalt Pharmaceuticals, Inc. will sell to Impax Laboratories, Inc. its pending ANDA for Dronabinol, a generic equivalent to Marinol®.
  • Resolution Chemicals Ltd. (Resolution), the subsidiary of the Arrow Group that manufactures Dronabinol active pharmaceutical ingredient, and that will supply finished Dronabinol product to Impax Laboratories upon approval, will be sold to existing management of Resolution Holdings and divested from the Arrow Group immediately prior to the closing. Resolution has entered into an agreement with Impax Laboratories to supply finished Dronabinol product.

About Watson Pharmaceuticals, Inc.

Watson Pharmaceuticals, Inc. is a leading global specialty pharmaceutical company. The Company is engaged in the development, manufacturing, marketing and distribution of generic pharmaceuticals and specialized branded pharmaceutical products focused on Urology and Women's Health.

For press release and other company information, visit Watson Pharmaceuticals' Web site at

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, successful integration of strategic transactions including the acquisition of the Arrow Group; the ability to recognize the anticipated synergies and benefits of strategic transactions, including the acquisition of the Arrow Group; the uncertainty associated with the successful consummation of external business development transactions, including the acquisition of the Arrow Group; 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; 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 Quarterly Report on Form 10-Q for the period ended September 30, 2009.


SOURCE Watson Pharmaceuticals, Inc.

SOURCE Watson Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Watson Completes Acquisition of Arrow Group
2. Employers Plan to Increase Use of Self-Service Decision-Making Technology For Open Enrollment, Watson Wyatt Survey Finds
3. Watson Names G. Frederick Wilkinson Executive Vice President, Global Brands
4. Watson Pharmaceuticals Receives FDA Approval for Generic PLAN B(R) for Over-the-Counter Use
5. Watson Prices $850 Million of Senior Unsecured Notes
6. Watson Announces Limited Recall Of Fentanyl Transdermal System
7. Watson Pharmaceuticals and Arrow Group Receive FTC Second Request
8. Watson Pharmaceuticals Receives FDA Approval for Generic Toprol XL(R) 25 MG and 50 MG
9. Watson Pharmaceuticals Reports Second Quarter 2009 GAAP EPS of $0.46; Adjusted EPS $0.61; Company Raises 2009 Outlook
10. Watson Announces License Agreement With GeneraMedix for Generic Version of Ferrlecit(R)
11. Watson CFO Mark W. Durand to Take Leave of Absence
Post Your Comments:
(Date:6/25/2016)... ... June 25, 2016 , ... Austin residents seeking Mohs ... College of Mohs Surgery and to Dr. Russell Peckham for medical and surgical dermatology. ... treatment for skin cancer. The selective fellowship in Mohs Micrographic Surgery completed by Dr. ...
(Date:6/25/2016)... ... ... First Choice Emergency Room , the largest network of independent freestanding ... of its new Mesquite-Samuell Farm facility. , “We are pleased to announce Dr. ... James M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. , Dr. ...
(Date:6/25/2016)... ... ... On Friday, June 10, Van Mitchell, Secretary of the Maryland Department of Health ... of their exemplary accomplishments in worksite health promotion. , The Wellness at Work Awards ... at the BWI Marriott in Linthicum Heights. iHire was one of 42 businesses to ...
(Date:6/24/2016)... ... ... Those who have experienced traumatic events may suffer from a complex set of ... or alcohol abuse, as a coping mechanism. To avoid this pain and suffering, Serenity ... event. , Trauma sufferers tend to feel a range of emotions, from depression, guilt, ...
(Date:6/24/2016)... ... 2016 , ... The Pulmonary Hypertension Association (PHA) learned during ... two significant new grants to support its work to advance research and patient ... recognizing patients, medical professionals and scientists for their work in fighting pulmonary hypertension ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... 23, 2016 , , , ... 7, 2016 , , , , LOCATION: , , , ... , , , EXPERT PANELISTS:  , , , Frost & Sullivan,s ... Christi Bird; Senior Industry Analyst, Divyaa Ravishankar and Unmesh Lal, Program ... global pharmaceutical industry is witnessing an exceptional era. Several new demand ...
(Date:6/23/2016)... 2016  Astellas today announced the establishment of Astellas Farma Colombia (AFC), a new affiliate with operations headquartered in ... America . ... ... ... ...
(Date:6/23/2016)... , June 23, 2016  Guerbet announced today that ... Supplier Horizon Award . One of ... was recognized for its support of Premier members through ... clinical excellence, and commitment to lower costs. ... this recognition of our outstanding customer service from Premier," ...
Breaking Medicine Technology: