Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 15,318.20 +138.38 0.91%
S&P 500 1,651.81 +12.77 0.78%
Nasdaq 3,482.18 +30.05 0.87%
Ticker Volume Price Price Delta
STOXX 50 2,700.93 -1.76 -0.07%
FTSE 100 6,374.21 +43.72 0.69%
DAX 8,229.51 +13.78 0.17%
Ticker Volume Price Price Delta
Nikkei 13,133.80 +126.55 0.97%
Hang Seng 20,966.90 -258.99 -1.22%
S&P/ASX 200 4,847.60 +33.25 0.69%

Watson Wins EU Approval to Buy Generic-Drug Maker Actavis

Watson Pharmaceuticals Inc. (WPI), maker of the generic version of Lipitor cholesterol pills, won European Union approval to buy closely held drugmaker Actavis Group hf to create the third-largest global generic-drug maker.

The European Commission said the combined company would continue to face competition from a sufficient number of credible and strong rivals, according to an e-mailed statement today.

Parsippany, New Jersey-based Watson agreed in April to buy Actavis for 4.25 billion euros ($5.6 billion), expanding its reach in Europe and Asia.

To contact the reporter on this story: Aoife White in Brussels at awhite62@bloomberg.net.

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net.

Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.

Sponsored Link