Watson, Andrx extend deadline for close of merger to allow for FTC review

By E. Janene Geiss

Philadelphia, July 10 - Watson Pharmaceuticals, Inc. and Andrx Corp. said Monday that they have amended their March 12 definitive merger agreement that extends the deadline to close the transaction to Nov. 13 from Sept. 12.

The amendment will allow the parties more time to confer with the Federal Trade Commission, which has the right to review the merger under the provisions of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, according to a company news release.

On May 3, the companies said that they had each received a request for additional information from the FTC in connection with Watson's pending acquisition of Andrx.

The companies said they continue to work closely with the FTC in response to the request.

Andrx is a Fort Lauderdale, Fla., pharmaceutical company.

Watson is a Corona, Calif., specialty pharmaceutical company.

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