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Watson to Acquire Arrow Group
Date:6/17/2009

s expertise in clinical, regulatory and legal matters. The combined management team has significant experience in executing international transactions as well as managing sales, marketing, production, R&D and regulatory functions on a global basis.
  • Financially Attractive Transaction: The transaction is anticipated to be accretive to cash earnings per share in 2010 before synergies, excluding the effect of transaction-related expenses and the amortization of intangible assets. It will be financed with a combination of cash and stock. Due to the modest amount of additional debt needed to complete this transaction, Watson will continue to have flexibility to be opportunistic in business development initiatives for both its generic and brand businesses.

  • Upon the close of the transaction, Tony Tabatznik, Founder and Chief Executive Officer of Arrow, is expected to join Watson's Board of Directors as a non-employee director.

    "Tony's vast industry experience, global commercial expertise and entrepreneurial spirit will be a valuable asset as Watson begins the next phase in its evolution," Mr. Bisaro continued. "The management team at Arrow is among the strongest in our industry, and we look forward to working with them to ensure a smooth integration, and longer term, to help maximize Watson's growth potential."

    Tony Tabatznik, Founder and Chief Executive Officer of Arrow, commented, "This is a brilliant move for both Watson and Arrow and we are very excited about being part of this great combination. Together we will have the resources, the skills and the capabilities to build one of the premier specialty pharmaceutical companies in the world."

    Transaction Terms

    Under the terms of the agreement, Watson will acquire Arrow for cash and stock consideration of $1.75 billion. The total consideration will include a cash p
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    SOURCE Watson Pharmaceuticals, Inc.
    Copyright©2009 PR Newswire.
    All rights reserved

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