Drug Co. Watson Grows Asian Presence With Ascent Buy

Law360, New York (January 24, 2012, 1:50 PM EST) -- Generic drug company Watson Pharmaceuticals Inc. has acquired Ascent Pharmahealth Ltd., the Australian and Southeast Asian generic drug business of Strides Arcolab Ltd., for AU$375 million (US$393 million), making Watson a major player in the region, the companies announced Tuesday.

The cash purchase makes New Jersey-based Watson the fifth-largest generic drug manufacturer in Australia and the largest in Singapore, and will establish its presence in Malaysia, Hong Kong, Vietnam and Thailand, Watson said.

“This acquisition immediately establishes Watson among the leaders in the AU$12 billion Australian...
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