ANDRX AND WATSON EXTEND MERGER DEADLINE TO NOVEMBER

Watson Pharmaceuticals and Andrx have extended their merger deadline an additional two months to address the FTC's review of the transaction, the companies said.

Watson announced in March it intended to buy Andrx for $1.9 million. The deal was then delayed in May when the companies received a request for additional information from the FTC, which has the authority to review the transaction under provisions of the Hart-Scott-Rodino Antirust Improvements Act of 1976.

The companies announced July 10 they have amended their agreement to change the deadline for the merger from Sept. 12 to Nov. 12 in order to give them additional time to confer with the FTC.

Andrx's pending drug applications have been on hold since September 2005 after FDA inspectors found several manufacturing problems during an inspection of the drugmaker's Davie, Fla., plant. The FDA also noted nine violations during its recent reinspection of the plant. During a conference call March 13, Watson executives said they had looked into the manufacturing issues and felt that "it was appropriate to proceed" with the acquisition.