Watson Pharmaceuticals has confirmed the acquisition of Eden Biopharm Group for approximately $15m, a move that will open new biopharmaceutical development and manufacturing avenues for the company.
Watson previously acquired 36% of Eden in December 2009, and will now fully incorporate the company into its global brands division.
Watson president and CEO Paul Bisaro said that in addition to development and manufacturing facilities, the Eden acquisition adds substantial intellectual capital to Watson's biologics activities.
"The move 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," Bisaro said.
Watson will also acquire Eden's state-of-the-art UK facility, which is custom designed for multi-product operation and supports the development of biopharmaceuticals from proof-of-concept through to cGMP manufacture for clinical trials, market launch and commercial supply.