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Watson Acquires Ascent Pharmahealth for AU$375 Million
Date:1/23/2012

estment to build organically.  It also provides us with a leadership position in Southeast Asia, a region with more than 600 million consumers and overall annual generic sales of approximately AU$4 billion a year, which is projected to grow at more than 8 percent annually."

"The acquisition of Ascent provides Watson with a successful commercial structure in both Australia and Southeast Asia; we will retain the proven sales and marketing teams that have driven Ascent's growth; we will have a larger portfolio of products, and gain a broader pipeline of products to support continued growth," Bisaro added.  "We anticipate a seamless and rapid integration of the Ascent businesses."

"The sale of Ascent is a value-enhancing and forward-looking initiative for Strides," said Arun Kumar, Executive Vice Chairman and Group CEO of Strides Arcolab.  "We have been clear about our intention to focus on our highly attractive steriles segment, which we expect to be our growth engine going forward.  The transaction further facilitates the execution of this strategy and unlocks significant value for the Group.  Furthermore, the proceeds from the transaction considerably strengthen our balance sheet. We believe that Ascent and its employees in Australia, Singapore and all of its other markets will benefit from the continued development under its new owners."

Watson currently operates in the Australian marketplace through its subsidiary, Spirit Pharmaceuticals, which supplies products to third parties and has a successful development track record and robust pipeline of products, including significant patent challenges.  Watson also operates through its Willow Pharmaceuticals subsidiary, which develops, sources and markets products with an emphasis on injectables.  During 2010, the Company established the Watson Pharma Company to consolidate its position in Australia and support growth in the marketplace.  The Company expe
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SOURCE Watson Pharmaceuticals, Inc.
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