Supplier News Breaks Archives
Watson, Actavis to divest products as FTC OKs acquisition
October 15th, 2012
PARSIPPANY, N.J. – The Federal Trade Commission has approved Watson Pharmaceuticals Inc.'s $5.6 billion deal to acquire acquisition of the Actavis Group.
Watson said Monday that all regulatory approvals required to close the transaction have now been obtained, and the acquisition is expected to be finalized in late October or early November. Watson and Actavis announced the acquisition in late April.
As part of the consent order with the FTC that cleared the deal, Watson and Actavis have agreed to divest some marketed and pipeline products to Par Pharmaceutical Cos. and Sandoz Inc.
Once the acquisition closes, Par is slated to buy Watson's morphine sulfate extended-release capsules (the generic version of Kadian) and Actavis' nifedipine ER tablets (the generic version of Adalat CC), metoclopramide hydrochloride tablets (the generic version of Reglan), fentanyl transdermal film (the generic equivalent of Duragesic) and diltiazem hydrochloride ER capsules (the generic equivalent of Cardizem).
Par said Monday that it plans to start shipping the generic drug products immediately after the Watson-Actavis deal is completed.
In addition, Par has agreed to purchase Watson's pending applications for adapalene/benzoyl peroxide gel, oxymorphone hydrochloride ER tablets and amphetamine salts ER tablets as well as Actavis' pending applications for a rivastigmine patch, glipizide ER tablets, varenicline tartrate tablets, oxycodone hydrochloride ER tablets and ursodiol tablets. Also, Par will buy Actavis' development-stage methylphenidate hydrochloride ER tablets.
Meanwhile, Sandoz has agreed to acquire Actavis' bupropion hydrochloride 150-mg ER tablets, lorazepam tablets and diltiazem hydrochloride ER capsules, as well as Watson's pending application for dextromethorphan hydrobromide/quinidine sulfate.