Issue Date: May 30, 2011
Valeant And Watson Buy Into Generics
Looking to spend its money after failing to take over Cephalon, Valeant Pharmaceuticals will acquire the specialty drug firm AB Sanitas for about $443 million in cash. Based in Kaunas, Lithuania, Sanitas sells branded generic drugs throughout Central and Eastern Europe. Valeant expects its sales to reach more than $140 million this year. Separately, Watson Pharmaceuticals has bought the generic drug maker Specifar Pharmaceuticals for $562 million. The Greek firm had 2010 sales of about $120 million.
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