Watson to acquire portfolio of divested generic pharmaceutical products

Watson Pharmaceuticals, Inc. (NYSE: WPI) today announced a definitive agreement to acquire a portfolio of generic pharmaceutical products that are being divested as a result of the merger between Perrigo Company and Paddock Laboratories.  The portfolio consists of six products, including four FDA-approved products and two undisclosed development-stage products.  Commercialized products in the portfolio include:

Ciclopirox shampoo 1%
Ammonium Lactate Cream 12%
Ammonium Lactate Lotion 12%
Promethazine HCl Suppositories 12.5 and 25 mg

Perrigo will supply the products to Watson under a Manufacturing and Supply Agreement until manufacturing is transferred to Watson or a third party. Additional details, including financial terms, have not been disclosed.