Watson Pharmaceuticals extends global reach with Specifar deal

WATSON Pharmaceuticals yesterday acquired privately held generic drug developer Specifar Pharmaceuticals for $562m (£345.2m) in cash, expanding its global footprint.

Watson said yesterday it expects the deal to immediately add to 2011 non-GAAP earnings.

Specifar is a third-party product developer, with some 400 marketing authorisations licensed to third parties for sale in 36 countries, predominantly in Europe. It has eight products currently filed in the EU and additional products in development.

Specifar’s pipeline includes a generic tablet version of Nexium (esomeprazole), which could be available in certain European markets as early as the fourth-quarter of 2011.