CORONA, Calif., April 13 /PRNewswire-FirstCall/ -- Watson Pharmaceuticals, Inc. , a leading specialty pharmaceutical company, announced it has completed its acquisition of Sekhsaria Chemicals Ltd. of Mumbai, India.
Sekhsaria provides process research and development and contract manufacturing services to the global pharmaceutical industry, including the development and manufacture of active pharmaceutical ingredients (API) and related intermediates. The company currently has over 15 United States Drug Master Files (DMF's) on file or approved.
"Sekhsaria's unique API capabilities will support our generic pharmaceutical program needs," said Allen Chao, Ph.D., Watson's Chairman and Chief Executive Officer. "Together with our recently acquired manufacturing facility in Goa, India, our India-based technical operations are firmly established, providing Watson with a broad range of pharmaceutical capabilities. Building our off-shore expertise complements our ongoing efforts to improve efficiencies and manage costs and will enhance our competitive position in the pharmaceutical marketplace."
Any statements contained in this press release that refer to future events or other non-historical facts are forward-looking statements that reflect Watson's current perspective of existing trends and information as of the date of this release. Except as expressly required by law, Watson disclaims any intent or obligation to update these forward-looking statements. Actual results may differ materially from Watson's current expectations depending upon a number of factors affecting Watson's business. These factors include, among others, successful compliance with FDA and other governmental regulations applicable to Watson's facilities, products and/or business; the impact of competitive products and pricing; market acceptance of and continued demand for Watson's products; the ability to timely and cost-effectively integrate Watson's and Sekhsaria's operations; the ability to realize the anticipated synergies of the transaction, and other risks and uncertainties detailed in Watson's periodic public filings with the Securities and Exchange Commission, including but not limited to Watson's Annual Report on Form 10-K for the year ended December 31, 2005.
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