Watson Receives FTC Clearance for Actavis Acquisition

Watson Pharmaceuticals

today announced that the Federal Trade Commission (FTC) has voted to approve Watson's acquisition of the Actavis group of companies. The unanimous vote in support of the transaction follows Watson's agreement to a proposed consent order, pursuant to which Watson has agreed to divest certain products as a condition to obtaining FTC approval. The parties have now obtained all regulatory approvals required to close the transaction. Accordingly, the parties expect to consummate the acquisition in late October or early November. Under the terms of the consent order with the FTC, Watson and Actavis have agreed to divest a number of marketed and pipeline products to Par Pharmaceutical Companies, Inc. and Sandoz.