Watson Pharma Buys Uteron Pharma for $150 Million
On Wednesday, Watson Pharmaceuticalsannounced that it has completed its acquisition of Belgium-based Uteron Pharma SA for a purchase price of $150 million upfront, and a potential $155 million in additional milestone payments that may become payable in future years as drugs in Uteron's pipeline move closer to market.
Watson said this acquisition "expands Watson's Global Brands pipeline of Women's Health products including two potential near term global commercial opportunities in contraception and infertility, and one novel oral contraceptive, projected to launch globally in 2018. Several additional products in earlier stages of development are also included in the acquisition."
The company also said that Uteron co-CEO and co-founder Stijn Van Rompay, as well as Chief Science Officer and co-founder Jean-Michel Foidart, will continue to manage Uteron post-acquisition.
Watson predicted the purchase will be "minimally dilutive to non-GAAP earnings in 2013 and 2014, and accretive in 2015."
The article Watson Pharma Buys Uteron Pharma for $150 Million originally appeared on Fool.com.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.
