Watson Pharma Buys Uteron Pharma for $150 Million

On Wednesday, Watson Pharmaceuticals (NYSE: AGN  ) announced that it has completed its acquisition of Belgium-based Uteron Pharma SA for a purchase price of $150 million upfront, and a potential $155 million in additional milestone payments that may become payable in future years as drugs in Uteron's pipeline move closer to market.

Watson said this acquisition "expands Watson's Global Brands pipeline of Women's Health products including two potential near term global commercial opportunities in contraception and infertility, and one novel oral contraceptive, projected to launch globally in 2018. Several additional products in earlier stages of development are also included in the acquisition."

The company also said that Uteron co-CEO and co-founder Stijn Van Rompay, as well as Chief Science Officer and co-founder Jean-Michel Foidart, will continue to manage Uteron post-acquisition.

Watson predicted the purchase will be "minimally dilutive to non-GAAP earnings in 2013 and 2014, and accretive in 2015."


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