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EXHIBIT 99.2
[LETTERHEAD OF CIBC WORLD MARKETS CORP.]
The Board of Directors
Schein Pharmaceutical, Inc.
100 Campus Drive
Florham Park, New Jersey 07932
Members of the Board:
CIBC World Markets Corp. ("CIBC World Markets") hereby consents to the inclusion
of the opinion letter of CIBC World Markets to the Board of Directors of Schein
Pharmaceutical, Inc. ("Schein") as Annex B to, and to the reference thereto
under the captions "SUMMARY - Opinion of Schein's Financial Advisor" and "THE
MERGER - Opinion of Schein's Financial Advisor" in, the Proxy
Statement/Prospectus of Schein and Watson Pharmaceuticals, Inc. ("Watson")
relating to the proposed merger transaction involving Schein and Watson. In
giving such consent, we do not admit that we come within the category of persons
whose consent is required under, and we do not admit that we are "experts" for
purposes of, the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder.
By: /s/ CIBC WORLD MARKETS CORP.
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CIBC WORLD MARKETS CORP.
New York, New York
July 14, 2000
