Watson Pharmaceuticals (WPI) and Andrx (ADRX) Receive Letter From FTC Requesting Additional Information

May 3, 2006 7:25 AM EDT

Watson Pharmaceuticals, Inc. (NYSE: WPI) and Andrx Corporation (Nasdaq: ADRX) issued a joint press release announcing that they have each received from the Federal Trade Commission a request for additional information (commonly referred to as a “second request”) pursuant to the notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with Watson’s pending acquisition of Andrx.

The companies intend to respond promptly to the information request, which was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

The effect of the second request is to extend the waiting period imposed by the HSR Act until 30 days after Watson and Andrx have substantially complied with the request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC.

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