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Business
Watson Buying Arrow In Generics Deal
by Michael McCoy
June 22, 2009
| A version of this story appeared in
Volume 87, Issue 25
Watson Pharmaceuticals has agreed to acquire privately held Arrow Group for $1.75 billion in cash and stock. The resulting generic drug company will have more than $3 billion in annual sales. According to Watson, Arrow's sales last year were $647 million and included more than 100 molecules in 20 countries. Arrow has U.S. rights to launch the authorized generic version of Lipitor in November 2011. It also owns 36% of Eden Biodesign, a biopharmaceutical firm that Watson says will provide a foundation for future generic biologics.
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