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Watson acquires Uteron Pharma
January 23rd, 2013
PARSIPPANY, N.J. – Watson Pharmaceuticals Inc. has acquired Uteron Pharma SA, a Belgium-based developer of women's health products.
Watson said Wednesday that it has completed the deal, which includes an up-front cash payment of $150 million and up to $155 million in potential future milestone payments.
The company noted that the addition of Uteron expands its 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 other products in earlier stages of development are also included in the acquisition, Watson said.
"This is a strategic acquisition of a solid pipeline, sound development expertise and sufficient manufacturing capacity to generate value for shareholders within the next two years and provide the potential of multiple global product introductions through the latter half of the decade," stated Fred Wilkinson, president of Watson Global Brands and Biosimilars.
"The acquisition capitalizes on the growing potential of the expanded global commercial footprint for our women's health brand franchise following the Actavis acquisition," he added.
Uteron's executive team, including co-CEO and co-founder Stijn Van Rompay and CSO and co-founder Professor Jean-Michel Foidart, will continue to manage Uteron, according to Watson.
The near-term product opportunities gained via the Uteron acquisition include Levosert, an intrauterine device (IUD) designed to deliver levonorgestrel for the indications of long-term contraception and treatment of heavy bleeding, and Diafert, a noninvasive immunoassay kit for the assessment of egg quality during in-vitro fertilization.
Watson also picks up a midstage product development candidate — Estelle, a natural estrogen contraceptive — and a pair of early-stage candidates: Vaginate, a treatment for vaginal infections, and Colvir, a treatment for HPV legions of the uterine cervix.