MORRISTOWN, N.J., Aug. 6 /PRNewswire-FirstCall/ -- Watson Pharmaceuticals,
Inc. (NYSE: WPI), a leading specialty pharmaceutical company, today announced
that it has received a request for additional information from the Federal
Trade Commission ("FTC") in connection with Watson's pending acquisition of
privately held Arrow Group. The information request was issued under
notification requirements of the Hart.Scott.Rodino Antitrust Improvements Act
of 1976, as amended ("HSR Act"). The effect of the second request is to
extend the waiting period imposed by the HSR Act until 30 days after Watson
and Arrow Group have substantially complied with the request, unless that
period is extended voluntarily by the parties or terminated sooner by the FTC.
Watson intends to cooperate fully with the FTC's review and continues to
expect the transaction to close in the second half of 2009.
About Watson Pharmaceuticals, Inc.
Watson Pharmaceuticals, Inc. is a global leader in the development and
distribution of pharmaceuticals with a broad portfolio of generic products and
a specialized portfolio of brand pharmaceuticals focused on Urology, Women's
Health and Nephrology/Medical.
For press release and other company information, visit Watson
Pharmaceuticals' Web site at http://www.watson.com.
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
FDA or other 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 period ended June 30, 2009.
SOURCE Watson Pharmaceuticals, Inc.
of Watson Pharmaceuticals, Inc.,
Web Site: http://www.watson.com