Watson buys Arrow for $1.75B

It's not just Big Pharma that's eyeing international expansion. Generics maker Watson Pharmaceuticals has agreed to buy Arrow Group, another maker of copycat meds with tentacles in more than 20 countries. The price: $1.75 billion. The result: A combined company with annual revenues of more than $3 billion. The payoff: Watson predicts the deal will increase earnings next year. Watson report