Actavis, Inc. 8-K 2013
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant To Section 13 or 15(d) Of the
Securities and Exchange Act Of 1934
January 3, 2013
Date of Report (Date of earliest event reported)
WATSON PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
(Registrants telephone number, including area code)
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Item 2.05 Costs Associated with Exit or Disposal Activities.
As part of its ongoing efforts to improve the efficiency of its global supply chain, on January 3, 2013, Watson Pharmaceuticals, Inc. (the Company) announced plans to restructure operations at its Corona, California facility. In connection with the restructuring, manufacturing and related support functions at the site will be reduced and activities at the facility going forward will be focused only on the production of oral contraceptives. Manufacturing and packaging of other products will be transferred to other sites within the Companys global supply chain. While the timing of the completion of the restructuring will depend on a number of factors, we anticipate that the restructuring will be complete by the end of 2014.
The Company expects to incur pre-tax future cash expenditures associated with the planned closures, including the following:
The Company also expects to incur non-cash accelerated depreciation charges as part of the restructuring. At this time the Company is unable to estimate the accelerated depreciation charges to be incurred through the estimated completion date.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.