Watson pays $178M for Novartis headache drugs

Watson Pharmaceuticals has said it will pay $178 million for the USrights to two product lines sold by Novartis for the treatment of tension headaches. Watson will acquire Novartis' Fiorinal (butalbital, aspirin and caffeine), Fiorinal With Codeine, Fioricet (butalbital, acetaminophen and caffeine) and Fioricet With Codeine. The deal is expected to close in the first quarter of 2003, with Novartis manufacturing the products for Watson over a transitional period.

Meantime, Watson has introduced in the USA a generic version of the oral contraceptive Ortho-Cyclen (norgestimate and ethinylestradiol tablets) marketed by Ortho-McNeil Pharmaceutical. Watson's version, called MonoNessa, has been introduced as part of a supply arrangement with OMJ Pharmaceuticals, an affiliate of Ortho-McNeil. Sales of Ortho-Cyclen were approximately $140 million in 2002.