Financings/Collaborations In Brief: Andrx/Watson Pharmaceuticals
Executive Summary
Andrx/Watson Pharmaceuticals: Enter definitive agreement whereby Watson will purchase an additional $15.5 mil. of Fort Lauderdale-based Andrx common stock, representing approximately 13% of the common shares outstanding. With the new investment, Watson now controls 19.5% of the controlled-release drug firm Andrx. Circa, which recently merged into Watson, had bought shares of Andrx in July 1994. Andrx and Watson will become 50/50 partners in the ANCIRC joint venture formed in July 1994 and have committed to adding two new generic products to the ANCIRC pipeline, Andrx says...
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