Drug Maker Watson To Buy Actavis For About EUR4.5 Billion - Source

Date : 03/21/2012 @ 12:59PM
Source : Dow Jones News
Stock : NY^TEVA (TEVA)
Quote : 38.92  0.0 (0.00%) @ 7:59PM

Drug Maker Watson To Buy Actavis For About EUR4.5 Billion - Source

Watson (NYSE:WPI)
Historical Stock Chart

5 Years : From Jan 2013 to Jan 2018

Click Here for more Watson Charts.

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

Latest TEVA Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.