Watson to buy Actavis, creating generics giant

By The Burrill Report: By Vinay Singh Three U.S. senators have sent letters to Pfizer (PFE), pharmacy benefit managers, and insurance companies requesting information about agreements aimed at blocking sales of generic versions of its blockbuster cholesterol drug Lipitor in some cases.

Doctors and pharmacists are increasingly writing and filling prescriptions for generic drugs — while scripts for patent-protected pharmaceuticals are declining — according to a

By Robert Broens: Watson Pharmaceuticals (WPI) ended the week 10% higher after the integrated global pharmaceutical company acquired privately held Actavis Group for Euro 4.25 billion. The Deal

US pharmaceuticals giant Pfizer on Tuesday reported profit and sales fell in the fourth quarter, hit hard by the loss of exclusivity on its blockbuster anti-cholesterol drug Lipitor.Pfizer Inc., the world's leading drug maker, posted fourth-quarter net income of $1.4 billion, down 50 percent from the year-ago period.Excluding exceptional items, adjusted earnings were 50 cents per share, topping the average analyst forecast of 47 cents.Fourth-quarter revenue fell to $16.7 billion, down 4.0 percent from the year-ago period.

By StreetAuthority: By David Sterman

NEW DELHI (AP) — India's Supreme Court on Monday rejected drug maker Novartis AG's attempt to patent an updated version of a cancer drug in a landmark decision that health activists say ensures poor patients around the world will get continued access to cheap versions of lifesaving medicines.

By Trefis: Pfizer (NYSE:PFE) has seen its stock underperform some of its peers like Abbott Labs (NYSE:ABT) and Merck (NYSE:MRK), as the company continues to struggle with various lawsuits and complaints.

(Reuters) - Watson Pharmaceuticals Inc said on Wednesday it agreed to buy Actavis Group for at least 4.25 billion euros ($5.60 billion), in a deal that cements its status as one of the world's biggest suppliers of generic drugs. Reuters first reported on March 21 that U.S.-based Watson was close to buying the Swiss drugmaker to help it compete more effectively against rivals Teva Pharmaceutical Industries and the Novartis unit Sandoz. ($1 = 0.7585 euros) (Reporting By Lewis Krauskopf in New York and Ben Hirschler in London)