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Watson to buy products from Teva's Barr acquisition

Speciality pharmaceutical company Watson has signed an agreement to purchase 17 generic pharmaceutical products from Teva

Speciality pharmaceutical company Watson has signed an agreement to purchase 17 generic pharmaceutical products, 15 of which have FDA-approval, which are being divested as part of Teva's acquisition of Barr Pharmaceuticals.

The product acquisition is subject to Teva's merger with Barr and will see Watson make an upfront payment to Teva of $36m with additional milestone payments throughout the product development stages.

"These products represent a sound complement to our extensive generics portfolio," said Paul Bisaro, president and CEO of Watson. He added: "We anticipate these new generics will have immediate value that we will begin to realise in early 2009."

Teva will supply the products to Watson under a manufacturing and supply agreement until manufacturing is transferred to Watson or a third party.

25th November 2008

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