Watson Pharmaceuticals Inc. on Monday agreed to buy Andrx Corp. for $1.9 billion, bulking up its generic drug business to keep pace with larger rivals in a rapidly consolidating sector.
Watson, which said the deal will make it the third-largest U.S. generic pharmaceutical company, will pay $25 per share for Andrx, a 32 percent premium to Andrx’s average share price over the last 30 days.
