MORRISTOWN, N.J., Jan. 28 Watson Pharmaceuticals, Inc. (NYSE: WPI) today announced that it has completed the acquisition of Eden Biopharm Group Limited for approximately $15 million. Eden is a biopharmaceutical development and contract manufacturing company located in Liverpool, UK. As a result of the acquisition of the Arrow Group in December 2009, Watson had previously acquired approximately 36 percent of Eden. Eden, which will be part of Watson's Global Brands Division, will maintain its established contract services model, while providing the Company with proven biopharmaceutical development and manufacturing capabilities.
"Completing the acquisition of Eden is the next strategic step in our commitment to establishing a major position in biologic products on a global basis," said Paul Bisaro, Watson's president and Chief Executive Officer. "In addition to development and manufacturing facilities, the Eden acquisition adds substantial intellectual capital to Watson's biologics activities, as Dr. Crawford Brown and the Eden management team will remain with Watson. Dr. Brown, co-founder of Eden, brings more than 20 years of international experience in biopharmaceutical development, including the successful pan-European submission for a complex recombinant vaccine which included an EMEA sponsored pre-approval inspection," Bisaro added.
Founded in 2000, Eden Biodesign is an integrated biopharmaceutical development and manufacturing organization that has provided strategic consultancy, world-class process development, cGMP manufacturing and analytical development services for every significant biopharmaceutical product technology. Eden's state-of-the-art facility, located in Liverpool, UK, is custom designed for multi-product operation and supports the development of biopharmaceuticals from proof-of-concept through to cGMP manufacture for clinical trials, market launch and commercial supply.
About Watson Pharmaceuticals, Inc.
Watson Pharmaceuticals, Inc. is a leading global specialty pharmaceutical company. The Company is engaged in the development and distribution of generic pharmaceuticals and specialized branded pharmaceutical products focused on Urology and Women's Health. Watson has operations in many of the world's established and growing international markets.
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SOURCE Watson Pharmaceuticals, Inc.