Watson Pharma Buys Uteron Pharma SA

Watson Pharmaceuticals, Inc.

today announced that it has completed the acquisition of Belgium-based Uteron Pharma SA for $150 million in cash up front, and up to $155 million in potential future milestone payments.  The acquisition of Uteron expands Watson's Global Brands pipeline of Women's Health products including two potential near term global commercial opportunities in contraception and infertility, and one novel oral contraceptive, projected to launch globally in 2018.  Several additional products in earlier stages of development are also included in the acquisition.  The Company said the transaction is expected to be minimally dilutive to non-GAAP earnings in 2013 and 2014, and accretive in 2015.