Issue Date: April 30, 2012
Generics Maker Watson To Buy Rival Actavis
The generic drug maker Watson Pharmaceuticals has agreed to acquire its rival Actavis for about $5.6 billion. Watson says the purchase will create the world’s third-largest generics company after Teva Pharmaceutical Industries and Sandoz. Watson’s generics sales last year were $3.4 billion; Actavis’ were $2.3 billion. The overall sales of the two firms this year are expected to reach $8.0 billion. Watson CEO Paul M. Bisaro says the purchase of the Icelandic firm will substantially boost Watson’s international presence. He also anticipates savings of more than $300 million from the combination.
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