Watson Pharma sells Rugby's OTC products to Harvard Drug co
Watson Pharmaceuticals Inc said it has sold its Rugby over-the-counter pharmaceutical products and trademarks to the Harvard Drug Group LLC’s division Major Pharmaceuticals for about $117 million.
The Rugby OTC portfolio includes more than 250 stock-keeping units of cough, allergy, pain relief, nausea relief, nicotine gum, vitamin and nutritional supplement products that are sold through various healthcare outlets across the U.S.
The transaction received clearance from the U.S. Federal Trade Commission on October 19 under the requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
As per the terms of the agreement, Harvard Drug has acquired the Rugby trademark and all the rights to market, sell and distribute OTC products and nicotine gum products sold under the trademark.
The integrated global pharmaceutical company retains all the rights to manufacture, sell and distribute all the store-branded nicotine gum products as well as other non-Rugby OTC products in its portfolio.
The company retains ownership of its nicotine gum abbreviated new drug applications as well as its nicotine gum manufacturing facilities.
As a part of the transaction, Watson and Harvard have entered into supply agreement under which Watson will manufacture and supply nicotine gum products sold in the Rugby and major labels.
Harvard Drug will manage and maintain the Rugby business within their Major Pharmaceuticals unit.
Watson Pharmaceuticals, Inc is an integrated global pharmaceutical company. It is engaged in development, manufacturing, marketing, sale and distribution of generic, brand and biologic pharmaceutical products.