Andrx News

Watson Pharmaceuticals has agreed to fork over $1.9 billion to buy Andrx, furthering the rapid consolidation of the generic drug business. The deal--a 32 percent premium at $25 a share--makes Watson the third largest generic drug maker in the country. The pact follows a long string of generic drug deals involving the merger of such companies as Teva and Ivax and Novartis and Eon Labs. Analysts say that the generic drug business requires large scale manufacturing to provide the kind of …