Reports: Watson plans to buy Actavis
NEW YORK — Generic drug maker Watson Pharmaceuticals is looking to acquire Actavis, according to published reports.
News media reported Wednesday that U.S.-based Watson was close to taking over Switzerland-based Actavis for $6.6 to $7.3 billion. Actavis, also a major manufacturer of generic drugs, was formerly based in Iceland and moved its headquarters to Switzerland last year.
The deal would likely go through this month or next month, according to the reports. According to news media, people familiar with the matter suggested the combination of the two companies would give Watson a bigger presence in Europe.