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Watson Wins EU Approval to Buy Generic-Drug Maker Actavis

Oct. 5 (Bloomberg) -- Watson Pharmaceuticals Inc., 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.

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