CORONA, Calif. The merger between Teva Pharmaceutical Industries and Barr Pharmaceuticals will result in the companies divesting several drugs, and Watson Pharmaceuticals has agreed to acquire them, the Corona, Calif.-based drug maker announced Tuesday.
The portfolio comprises 17 drugs, including 15 that have Food and Drug Administration approval and two in development.
“These products represent a sound complement to our extensive generics portfolio,” Watson president and chief executive Paul Bisaro said in a statement. “We anticipate these new generics will have immediate value that we will begin to realize in early 2009.”
Key drugs include desmopressin acetate, a diabetes insipidus treatment, glipizide and metformin hydrochloride tablets, for treating Type 2 diabetes, and metoclopramide hydrochloride tablets, a treatment for gastroesophageal reflux disorder.
Watson said that it will pay $36 million upfront for the portfolio of 17 drugs from Teva.