Watson in partnership with Moksha8 for Brazil and Mexico, inc $30M investment; files for generic Azilect

US specialty and generics drugmaker Watson Pharmaceuticals (NYSE: WPI) has entered an accord with Moksha8, based in Sao Paulo, Brazil, that will expand Watson's commercial presence in Latin America's two largest markets, Brazil and Mexico.

Watson will invest $30 million in Moksha8 as part of the latter’s approximately $61 million financing that includes investments from existing investors TPG Biotechnology and Montreux Equity Partners, so immediately gaining a significant minority stake in Moksha8.

As a result of this, Watson will manufacture and supply select products to Moksha8, which will have exclusive rights to market, sell and distribute these in Brazil and Mexico. Moksha8 and Watson have initially identified around a dozen product candidates, though not specifying what they will be, with the opportunity to include additional products in the future. Watson will continue to own all marketing authorizations, and Moksha8 will be responsible for sales, marketing and commercialization expenses.