PARSIPPANY, N.J., Oct. 5, 2012 /PRNewswire/ -- Watson Pharmaceuticals, Inc. (NYSE: WPI) today announced that the European Commission (EC) has approved the company's pending acquisition of the privately held Actavis Group.
"Approval from the EC represents a significant milestone as we work toward the completion of the combination of Watson and Actavis later this year," said Paul Bisaro, Watson's President and CEO.
The transaction remains subject to regulatory approval in the United States from the Federal Trade Commission (FTC). Watson continues to expect the transaction to close in the fourth quarter of 2012.
About Watson Pharmaceuticals, Inc.
Watson Pharmaceuticals, Inc. is an integrated global specialty pharmaceutical company. The Company is engaged in the development, manufacturing, marketing and distribution of generic pharmaceuticals and specialized branded pharmaceutical products focused on Urology and Women's Health. The Company is also developing biosimilar products in Women's Health and Oncology. Additionally, Watson distributes generic and branded pharmaceuticals through its Anda, Inc. distribution business. Watson has operations in many of the world's established and growing international markets.
For press release and other company information, visit Watson Pharmaceuticals' Web site at http://www.watson.com.
Any statements contained in this press release that refer to future events or other non-historical facts are forward-looking statements that reflect Watson's current perspective of existing trends and information as of the date of this release. Except as expressly required by law, Watson disclaims any intent or obligation to update these forward-looking statements. Actual results may differ materially from Watson's current expectations depending upon a number of factors affecting Watson's business. These factors include, among others, the uncertainty associated with the successful consummation and subsequent integration of the Actavis acquisition and the ability to recognize the anticipated synergies and benefits of the Actavis acquisition; the receipt of required regulatory approvals for the Actavis acquisition transaction, including the approval of the FTC, necessary to complete the acquisition; risks of fluctuations in foreign currency exchange rates; and other risks and uncertainties detailed in Watson's periodic public filings with the Securities and Exchange Commission, including but not limited to Watson's Quarterly Report on Form 10-Q for the period ended June 30, 2012 and Watson's Annual Report on Form 10-K for the period ended December 31, 2011.
SOURCE Watson Pharmaceuticals, Inc.