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Watson/Circa merger consummated; pro forma sales to Rugby were $11.1 mil. in 1994.

Executive Summary

WATSON/CIRCA PRO FORMA SALES TO RUGBY WERE $11.1 MIL. IN 1994, Circa indicated in a recent proxy statement for its merger with Watson. Marion Merrell Dow's Rugby generics subsidiary accounted for 14% of Watson's total revenues for the year, or $9.6 mil., the proxy states. Rugby was also Circa's second largest customer, accounting for 19% of sales in 1994, or $1.5 mil. On a pro forma basis, Rugby represented 11.7% of Watson/Circa's sales for the year.
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PS026579

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