Watson Aussie acquisition
January 25, 2012
THIS week US-listed Watson
Pharmaceuticals became the fifth
largest generic pharmaceutical
company in Australia (based on
revenue), after it acquired Ascent
Pharmahealth for AU$375 million.
The deal also means that Watson
is the second largest
pharmaceutical company in
Australia based on molecules.
Prior to its purchase, Ascent
Pharmahealth Ltd, was the
Australian and Southeast Asian
generic pharmaceutical business of
Strides Arcolab Ltd.
At present Ascent’s portfolio of
generics, brands, branded-generic
and OTC and dermatology and skin
care products commands around a
14% market share in Australia,
whilst the company employs
approximately 300 people in
Australia and Southeast Asia.
Last year, Ascent’s businesses in
Australia and Southeast Asia had
total sales of approximately
AU$150 million.
“We are committed to expanding
our international commercial
operations into geographies where
we can capitalise on our existing
assets and participate in growing
and emerging markets,” said Paul
Bisaro, Watson’s president and
chief executive officer.
“This acquisition immediately
establishes Watson among the
leaders in the AU$12 billion
Australian pharmaceutical market,
where the generic market is
growing at approximately 8%”.
He said the deal also
“complements our existing generic
development and marketing
capabilities in the important
Australia market, and catapults us
to a top five position that would
have taken considerable time and
investment to build organically.”
Meanwhile in looking towards
Asia, the acquisition now means
that Watson has also become the
largest generics company in
Singapore and has gained an
established commercial base in
Malaysia, Hong Kong, Vietnam and
Thailand.
According to Bisaro, the deal
“provides us with a leadership
position in Southeast Asia, a region
with more than 600 million
consumers and overall
annual generic sales of
approximately AU$4 billion a year,
which is projected to grow at more
than 8 percent annually.”
Watson has also allayed job fears
saying that it will retain the
Ascent’s sales and marketing
teams in Australia and Asia.
The above article was sent to subscribers in Pharmacy Daily's issue from 25 Jan 12To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 25 Jan 12
