Drug Maker Watson To Buy Actavis For About EUR4.5 Billion - Source
21 Mars 2012 - 5:59PM
Dow Jones News
U.S. generic drug maker Watson Pharmaceuticals Inc. (WPI) is
close to buying rival Actavis valuing the Swiss-based company at
about EUR4.5 billion, a person familiar with the matter told Dow
Jones Newswires Wednesday.
The deal could happen this month, although April is a more
likely date, the person said.
"The combination would be a good fit as Watson has a strong
footprint in the U.S. and Actavis is well positioned in Europe,"
the person said.
Spokesmen for Watson and Actavis declined to comment.
Former Iceland-based Actavis is the world's fourth-largest
generic drug maker in terms of sales behind Israel-based Teva
Pharmaceutical Industries Ltd. (TEVA), Novartis AG's (NVS) unit
Sandoz and U.S.-based Myland Inc. (MYL).
Actavis increased its 2011 sales by 8% to about EUR1.84 billion,
Chief Executive Claudio Albrecht told Dow Jones Newswires late
January. "We are on track to achieve a top-line growth of 13% this
year with profits climbing by 18%," he said.
-By Eyk Henning, Dow Jones Newswires, 49-69-29725-108,
eyk.henning@dowjones.com