Watson Sells Rugby Drug Business For $117M
PARSIPPANY, N.J. (AP) -- Watson Pharmaceuticals Inc. said Monday that it has sold its over-the-counter Rugby drug business to The Harvard Drug Group LLC. for about $117 million.
Harvard Drug Group, headquartered in Livonia, Mich., is a major distributor and provider of private label over-the-counter products and generic prescription products sold under the Major Pharmaceuticals brand.
The Rugby deal includes more than 250 allergy, pain, nausea, cough and cold treatments as well as nicotine gum, vitamin and nutritional supplement products.
Watson, based in Parsippany, N.Y., bought the Rugby business in 1998. The company said that Watson will continue to manufacture and supply nicotine gum products sold under the Rugby and Major labels.
The Federal Trade Commission has approved the deal.