Watson Pharmaceuticals

Watson Pharmaceuticals, Incorporated (NYSE: WPI) is the 5th largest pharmaceutical company in the United States based on number of prescriptions dispensed. Based in Corona, California, Watson's Generics division markets over 150 pharmaceutical product families, including one of the largest lines of oral contraceptives in the Industry. Watson's Brand division markets over 20 pharmaceutical product families, including Ferrlecit for the treatment of iron deficiency anemia,Oxytrol, a transdermal matrix patch for the control of overactive bladder, Androderm, a transdermal reservoir patch for the treatment of low testosterone, as well as many other brand name medications. In addition, Watson's Distribution division, Anda, markets more than 6,000 pharmaceutical products, making it the 4th largest pharmaceutical distribution company in the Unites States.

Additional recommended knowledge

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History

Allen Chao, Ph.D. and David Hsia, Ph.D. founded Watson Pharmaceuticals in 1984. As a tribute to his mother whose maiden name was Hwa, Dr. Chao named the new company Watson for the close homophone “Hwa’s son.”

Merger and acquisition activity

Acquisition of Andrx Corporation

On November 3, 2006, Watson acquired all the outstanding shares of common stock of Andrx Corporation in an all-cash transaction for $25 per share, or total consideration of approximately $1.9 billion. Andrx distributes pharmaceutical products primarily to independent and chain pharmacies and physicians’ offices and is considered a leader in formulating and commercializing difficult-to-replicate controlled-release pharmaceutical products and selective immediate-release products. ¹

Products

• Quasense, a generic equivalent of Seasonale, an extended cycle combination oral contraceptive pill.