Watson to Become Third Largest Global Generics Company Following Actavis Takeover

Watson Pharmaceuticals and Actavis Group have announced that Watson is buying the generic drugmaker.

Watson Pharmaceuticals is to acquire privately held Actavis for approximately EUR 4.25 billion in a deal that will make the US-based pharmaceutical firm the third largest generics company in the world.

Actavis has commercial operations in more than 40 countries and sells more than 1,000 products, generating revenues of approximately $2.5 billion last year.

Paul Bisaro, president and chief executive officer of Watson, said that the acquisition would "substantially" complete the company's expansion as a leading global generics company.

"Actavis dramatically enhances our commercial position on a global basis and brings complementary products and capabilities in the United States," he said.<