Watson Pharmaceuticals, Inc. (WPI: Quote), Wednesday said the acquisition of Belgium-based Uteron Pharma SA is complete with an upfront payment of $150 million and up to $155 million payable depending upon the achievement of certain future milestones. The acquisition is expected to be minimally dilutive to the adjusted earnings in 2013 and 2014 while accretive in 2015, Watson said in a statement.
Watson said the acquisition expands its Women’s health Brand franchise including two potential near term global commercial opportunities in contraception and infertility, and one novel oral contraceptive, projected to launch globally in 2018.
Uteron’s executive team comprising Co-CEO and co-founder Stijn Van Rompay, and CSO and co-founder Professor Jean-Michel Foidart will continue to manage Uteron, Watson said.
Commenting on the development, Fred Wilkinson, President of Watson Global Brands and Biosimilars said,”The acquisition capitalizes on the growing potential of the expanded global commercial footprint for our Women’s Health Brand franchise following the Actavis acquisition. As a result of the Uteron acquisition, Watson welcomes the opportunity to access resources within the Walloon Region of Belgium, and acquires a valuable source of research and innovation.”
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