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PARSIPPANY, N.J. – The Federal Trade Commission has voted to approve Watson Pharmaceutical's acquisition of Switzerland-based generic drug maker Actavis.
The unanimous vote in support of the merger follows Watson's agreement to divest a number of marketed and pipeline products to Par Pharmaceutical and Sandoz as a condition to obtaining FTC approval.
The parties have now obtained all regulatory approvals required to close the transaction, and expect to complete the acquisition in late October or early November. The acquisition is expected to create the world's third-largest generic drug maker; Actavis operates in more than 40 countries and markets more than 1,000 products.