Watson Expands Generics Biz With $562M Specifar Buy

Law360, New York (May 25, 2011, 2:23 PM EDT) -- Watson Pharmaceuticals Inc. said Wednesday that it had paid $562 million in cash for Specifar Pharmaceuticals SA, a privately held Greek generics business, marking the latest deal in a wave of intercontinental over-the-counter and generic drug industry consolidation.

Parsippany, N.J.-based Watson said the deal gives it a foothold in Greece's $8.4 billion market and folds the profit potential of a generics maker with a strong product development pipeline into its financial picture.

"Watson will now have a powerful product development capability recognized throughout the industry for...
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