Watson to buy Actavis for at least $ 5.6 billion

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(Reuters) - Watson Pharmaceuticals Inc said on Wednesday it agreed to buy Actavis Group for at least 4.25 billion euros ($5.60 billion), in a deal that cements its status as one of the world's biggest suppliers of generic drugs.

Reuters first reported on March 21 that U.S.-based Watson was close to buying the Swiss drugmaker to help it compete more effectively against rivals Teva Pharmaceutical Industries and the Novartis unit Sandoz.

($1 = 0.7585 euros)

(Reporting By Lewis Krauskopf in New York and Ben Hirschler in London)

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