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news.Watson Pharmaceuticals (Watson) has completed the acquisition of Eden Biopharm Group (Eden) for approximately $15m. As a result of the acquisition of the Arrow Group in December 2009, Watson had previously acquired approximately 36% of Eden.
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Reportedly, Eden, which will be a part of global brands division of Watson, will maintain its established contract services model, while providing the company with biopharmaceutical development and manufacturing capabilities.
Paul Bisaro, president and CEO of Watson, said: “Completing the acquisition of Eden is the next strategic step in our commitment to establishing in biologic products on a global basis. In addition to development and manufacturing facilities, the Eden acquisition adds substantial intellectual capital to Watson’s biologics activities, as Crawford Brown and the Eden management team will remain with Watson.
“Dr. Brown, co-founder of Eden, brings more than 20 years of international experience in biopharmaceutical development, including the successful pan-European submission for a complex recombinant vaccine which included an EMEA sponsored pre-approval inspection.”