Watson, Actavis receive second FTC request
PARSIPPANY, N.J. — Watson Pharmaceuticals confirmed it received a request for additional information from the Federal Trade Commission in connection with the drug maker's pending acquisition of Actavis Group.
The information request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The effect of the second request is to extend the waiting period imposed by the HSR Act until 30 days after Watson and Actavis have substantially complied with the request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC.
Watson said it intends to cooperate fully with the FTC's review and continues to expect the transaction to close in fourth quarter 2012.