Wednesday, March 21, 2012

Watson in Talks to Buy Swiss Drugmaker Actavis - Businessweek

Watson Pharmaceuticals Inc. (WPI) is in talks to buy Actavis Group hf, a Swiss maker of generic drugs, a person with knowledge of the matter said.

Watson made an unsolicited approach to Actavis, said the person, who declined to be identified because the discussions are confidential. There are no other suitors at the moment and a deal may be weeks away, the person said. Reuters, which reported the discussions earlier today, said Watson may pay 5 billion euros ($6.6 billion) to 5.5 billion euros.

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