New US Sigma suitor?
August 2, 2010
SIGMA could be looking at the
piecemeal sale of its holdings, after
courting interest in its generics
business from US-based Watson
Pharmaceuticals.
According to reports, Watson
signalled its interest in Sigma earlier
in the year, and has since spent
some time going over the business.
With headquarters in California,
Watson Pharmaceuticals itself is
engaged in the development,
manufacturing, marketing and
distribution of generic
pharmaceuticals as well as
specialized branded
pharmaceutical products (focused
on urology and women’s health).
Last year Watson clocked
revenue of US$2.8 billion, net
revenue of US$384 million and
US$1.7 billion revenue for its
generics business.
The acquisition of Sigma’s
generics division is in line with the
company’s plans for worldwide
expansion, having already made a
mark in Australia with a research,
development and marketing
offshoot located in Melbourne.
Currently undertaking due
diligence on Sigma, South African
manufacturer Aspen
Pharmaceuticals has yet to
comment on the new development
or make a formal offer, despite
earlier warnings from Sigma that it
was entertaining other offers.
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