Watson Sells Minority Shareholding Position in Moksha8; Expands Development and Commercialization Agreement

 Watson Sells Minority Shareholding Position in Moksha8; Expands Development
                       and Commercialization Agreement

PR Newswire

PARSIPPANY, N.J., Oct. 22, 2012

PARSIPPANY, N.J., Oct. 22, 2012 /PRNewswire/ -- Watson Pharmaceuticals, Inc.
(NYSE: WPI) today announced that it has sold its minority ownership position
in Moksha8, Inc. ("Moksha8"), a leading pharmaceutical company in Latin
America, for approximately $47 million. Watson acquired a minority ownership
stake in Moksha8 in 2010 after investing $30 million in the company as part of
Moksha8's Series 3 financing.

Watson also simultaneously announced that it is expanding its ongoing sales
and marketing collaboration with Moksha8 by granting a license to Moksha8 for
five branded generic CNS products to be developed for the Brazil and Mexico
markets in exchange for defined milestones and sales royalties. Watson will
continue to retain generic marketing rights in each market for all products
licensed to Moksha8.

"As a larger, more diversified global company, following the planned
acquisition of Actavis, we are realigning our corporate structure and
ownership of assets in jurisdictions around the world," said Fred Wilkinson,
President of Global Brands and Biosimilars at Watson.

"Moksha8 has been a powerful partner in establishing our presence in Latin
America and we look forward to continuing the relationship as we pursue
additional opportunities to expand Watson's overall presence in these
markets."

In addition to Watson's ongoing marketing agreement with Moksha8, Watson
conducts its business in Brazil through its subsidiary, Arrow Farmaceutica,
which possesses local manufacturing capabilities in Rio de Janeiro and
numerous marketing authorizations in process or on file in Brazil and Mexico.
Watson plans to seek approval for several of its core Urology and Women's
healthcare branded products in both Brazil and Mexico and intends to
commercialize the products in this region once approval is obtained.

About Watson Pharmaceuticals, Inc.

Watson Pharmaceuticals, Inc.is an integrated global specialty pharmaceutical
company. The Company is engaged in the development, manufacturing, marketing
and distribution of generic pharmaceuticals and specialized branded
pharmaceutical products focused on Urology and Women's Health. The Company is
also developing biosimilar products in Women's Health and Oncology.
Additionally, Watson distributes generic and branded pharmaceuticals through
itsAnda, Inc. distribution business. Watson has operations in many of the
world's established and growing international markets.

For press release and other company information, visitWatson Pharmaceuticals'
Web site athttp://www.watson.com.

Forward-Looking Statement

Any statements contained in this press release that refer to future events or
other non-historical facts are forward-looking statements that reflect
Watson's current perspective of existing trends and information as of the date
of this release. Except as expressly required by law, Watson disclaims any
intent or obligation to update these forward-looking statements. Actual
results may differ materially from Watson's current expectations depending
upon a number of factors affecting Watson's business. These factors include,
among others, the impact of competitive products and pricing; market
acceptance of and continued demand for Watson's products; difficulties or
delays in manufacturing; the difficulty of predicting the timing or outcome of
regulatory agency approvals or actions, if any; and other risks and
uncertainties detailed in Watson's periodic public filings with the Securities
and Exchange Commission, including but not limited to Watson's Quarterly
Report on Form 10-Q for the quarter ended June 30, 2012 and Watson's Annual
Report on Form 10-K for the year ended December 31, 2011. Except as expressly
required by law, Watson disclaims any intent or obligation to update these
forward-looking statements.

CONTACTS:
Investors:
Lisa DeFrancesco
(862) 261-7152

Media:
Charlie Mayr
(862) 261-8030

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SOURCE Watson Pharmaceuticals, Inc.

Website: http://www.watson.com
 
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