Say Good-bye to the Family Farm
Watson Pharmaceuticals Inc.'s purchase of Schein Pharmaceutical seems to confirm what generics industry experts have known for some time: the industry is consolidating at both the wholesaler and manufacturer levels. The purchase, for $674 million and the assumption of $240 million in debt, is the third time in the past year that a large generics maker has bought a rival. The deal puts Watson, now ranked number four in generics, in a race for first place with Teva Pharmaceutical Industries Inc., which has also been on a buying spree.
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