Watson Pharmaceuticals is looking to expand its presence in Latin America by linking up with Brazil's Moksha8.

The US generics major is investing $30 million as part of Moksha8's $61 million financing, giving it "a significant minority ownership position". The Sao Paulo-based group currently markets 21 branded products for third parties in Latin America, through its 180-strong sales force and focuses on the therapeutic areas of CNS, infectious disease and pain.

Moksha8 and Watson say they have identified a dozen product candidates, with the opportunity to expand their commercialisation and marketing agreement in the future. The US firm has also committed to invest an additional $20 million, "contingent upon successful execution by Moksha8 of additional third-party product acquisitions over the next year".

Moksha8 currently has partnership deals with Roche, Pfizer, BioCryst and has worked with Watson in Brazil and Mexico in the past