Middletons acts on $375 million sale of Ascent to Watson Pharmaceuticals

Middletons acted on behalf of the sellers of the Australian and South-East Asian generic pharmaceutical business Ascent Pharmahealth, which has been purchased by Watson Pharmaceuticals. Ascent’s businesses operate as Ascent Pharmaceuticals in Australia and across Asia under the banners of DHA (Drug Houses of Australia) and Ascent Pharmahealth Asia.

Middletons lead partner on the transaction, John Mann, revealed the complexity of the deal, saying, “This was a global transaction involving teams in the UK, US, India, Singapore and Australia completed in a little under a month.”

Mann said that “under the terms of the sale and purchase agreement, Watson acquired Ascent Pharmahealth for AU$375 million”.

The deal includes a network of approximately 300 employees across eight countries in Australia and South-East Asia and a manufacturing facility in Singapore.

Mann said, “We expect this busy start to the year to continue with a strong pipeline of deals likely to result in much more M&A activity as opportunities arise.”