Business in the Burbs

Watson to buy rights to generic drugs

November

Watson Pharmaceuticals Inc. announced an agreement to buy rights to 17 generic drugs that will be divested as a result of the pending sale of Barr Pharmaceuticals Inc. to Teva Pharmaceutical Industries Ltd.

Watson said that it will make an upfront payment of $36 million to buy the products and will make additional payments to Teva when milestones are met on the development-stage products.

The medications in the deal include cyclosporine, which is used to treat rheumatoid arthritis, psoriasis and other ailments. Barr has major operations in Rockland County.

This entry was posted on Tuesday, November 25th, 2008 at 4:57 pm by Jay Loomis. You can follow any responses to this entry through the RSS 2.0 feed.
Category: Biopharmaceutical

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