WATSON TO ACQUIRE ANDRX AFTER FIRMS SELL RIGHTS TO PRODUCTS

The FTC has given Watson Pharmaceuticals permission to buy Andrx as long as the two sell off certain assets, including Andrx's portfolio of oral contraceptives.

The firms announced Oct. 31 that the FTC accepted a proposed consent order on Watson's pending acquisition of Andrx and granted early termination of the Hart-Scott-Rodino waiting period, allowing the firms to close the deal.

Under the terms of the consent order, Teva Pharmaceuticals will acquire all of the ownership interests in Andrx's oral contraceptives products, for which Teva currently has exclusive marketing rights. Also, Andrx will sell Actavis its pending abbreviated new drug applications for glipizide extended-release 2.5-, 5- and 10-mg tablets and will transfer to Actavis its rights from an existing agreement with Pfizer, under which Andrx distributes Pfizer's glipizide extended-release tablets.

In addition, Watson must terminate an agreement with Interpharm involving distribution of Interpharm's hydrocodone ibuprofen 7.5-mg/200-mg product. Interpharm will now be responsible for direct sales of the product.