Watson Pharmaceuticals, Inc., a arch specialty biologic company, has awash its Rugby over-the-counter (OTC) biologic articles and trademarks to The Harvard Drug Group, LLC, a arch benefactor and provider of clandestine characterization OTCs and all-encompassing decree products, for about $117 million.
The transaction accustomed approval from the US Federal Trade Commission on October 19, 2012 beneath requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as adapted (HSR Act).
The Rugby OTC portfolio includes added than 250 SKUs of ahem and cold, allergy, affliction relief, abhorrence relief, nicotine gum, vitamin and comestible supplement articles which are awash through assorted healthcare outlets beyond the United States.
“I am assured that Major, with its administration position as a banker of OTC products, will be added strategically positioned to aerate the amount of the long-known and admired Rugby name,” said Paul Bisaro, admiral and CEO of Watson. Acquired by Watson in 1998, Rugby possesses added than 40 years of history business OTC products.
“We are acutely aflame about accepting the Rugby artefact line. Rugby has a able bequest of accouterment affection and amount for pharma-care providers and consumers. The aggregate of Major and Rugby will actualize accumulation alternation efficiencies and enhance account levels,” said Terry Haas, CEO of The Harvard Drug Group, LLC (Harvard Drug).
Under acceding of the agreement, Harvard Drug has acquired the Rugby cast and all rights to market, advertise and administer OTC articles and nicotine gum articles awash beneath the trademark. Watson retains all rights to manufacture, advertise and administer all store-branded nicotine gum products, as able-bodied as added non-Rugby OTC articles in its portfolio. Watson retains buying of its nicotine gum Abbreviated New Drug Applications (ANDAs) as able-bodied as its nicotine gum accomplishment facilities. Also as allotment of the transaction, Watson and Harvard accept entered into a accumulation acceding beneath which Watson will accomplish and accumulation nicotine gum articles awash in the Rugby and Major labels. Harvard Drug will administer and advance the Rugby business aural their Major Pharmaceuticals division.
Watson Pharmaceuticals, Inc. is an chip all-around specialty biologic company. The aggregation is affianced in the development, manufacturing, business and administration of all-encompassing pharmaceuticals and specialized branded biologic articles focused on urology and women’s health.
Harvard Drug Group, L.L.C. is a arch broad benefactor and provider of clandestine characterization OTC’s and all-encompassing decree articles beneath the Major Pharmaceuticals brand.
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