Watson Pharm Paying $5.92B For Swiss Drug Maker Actavis
Watson Pharmaceuticals Inc. (NYSE: WPI) will announce on Wednesday the purchase of major Swiss competitor Actavis Group, according to media reports citing persons familiar with the negotiations.
The deal, valued at €4.5 billion ($5.92 billion), will elevate Parsippany, N.J.-based Watson to one of the world's top generic-drugs makers and allow it to surpass its primary U.S. competitor, Mylan Inc. (Nasdaq: MYL), the Wall Street Journal reported Tuesday.
Watson's stock price was down $1.60, or 2.29 percent, to $67.86 in afternoon trading.