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- Publication：2012/11/1
Watson Pharmaceuticals has sold its Rugby over-the-counter (OTC) pharmaceutical products and trademarks to Major Pharmaceuticals, a division of the Harvard Drug Group.
The transaction was valued at approximately $117 million and received clearance from the US Federal Trade Commission on October 19th.
As a result of the deal, Harvard Drug - a leading distributor and provider of private label OTCs and generic prescription products - now has all rights to market, sell and distribute OTC and nicotine gum products under the Rugby trademark.
This includes more than 250 examples of cough and cold, allergy, pain relief, nausea relief, nicotine gum, vitamin and nutritional supplement products that are sold across the US.
Watson has retained the rights to manufacture, sell and distribute store-branded nicotine gum products and other non-Rugby OTC products in its portfolio.
In addition, its will manufacture and supply nicotine gum products in the Rugby and Major product lines
Paul Bisaro, president and chief executive officer of Watson, said that Major was "more strategically positioned to maximise the value of the long-known and respected Rugby name".
Terry Haas, chief executive officer of the Harvard Drug Group, commented that the company was "extremely excited" about the acquisition of the Rugby product line, adding that the combination of Major and Rugby would "create supply chain efficiencies and enhance service levels".