Watson Pharmaceuticals
WPI, a leading specialty pharmaceutical company, today announced that
it has sold its Rugby over-the-counter ("OTC") pharmaceutical products and
trademarks to The Harvard Drug Group, LLC, a leading distributor and provider
of private label OTCs and generic prescription products, for approximately
$117 million. The transaction received clearance from the U.S. Federal Trade
Commission on October 19, 2012 under requirements of the Hart-Scott-Rodino
Antitrust Improvements Act of 1976, as amended ("HSR Act").
The Rugby OTC portfolio includes more than 250 SKUs of cough and cold,
allergy, pain relief, nausea relief, nicotine gum, vitamin and nutritional
supplement products which are sold through various healthcare outlets across
the United States.
"I am confident that Major, with its leadership position as a marketer of OTC
products, will be more strategically positioned to maximize the value of the
long-known and respected Rugby name," said Paul Bisaro, President and CEO of
Watson. Acquired by Watson in 1998, Rugby possesses more than 40 years of
history marketing OTC products.
"We are extremely excited about acquiring the Rugby product line. Rugby has a
strong legacy of providing quality and value for pharma-care providers and
consumers. The combination of Major and Rugby will create supply chain
efficiencies and enhance service levels," said Terry Haas, CEO of The Harvard
Drug Group, LLC ("Harvard Drug").
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: NewsAsset Sales
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in