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Watson Announces Preliminary Financial Performance for FY 2010
Date:1/12/2011

SAN FRANCISCO, Jan. 12, 2011 /PRNewswire/ -- At the 29th Annual J.P. Morgan Healthcare Conference, Watson Pharmaceuticals, Inc. (NYSE: WPI) today announced that based on a preliminary review of 2010 results, it expects net revenues to increase more than 25 percent to more than $3.5 billion compared to 2009. Adjusted cash earnings per share is expected to be at or slightly above the midpoint of the company's latest forecast of $3.37 to $3.45 per share, a greater than 12 percent increase over 2009.  This is based on a preliminary review of the Company's operating results for the fourth quarter and year-ended December 31, 2010.

"2010 was another year of exceptional performance," said Paul Bisaro, CEO of Watson Pharmaceuticals.  "We experienced continued solid growth across the business with particularly strong contributions from our generic extended-release and oral contraceptive franchises in the U.S., as well as from our Anda distribution business. Strong cash flows allowed us to repay over $450 million of short term debt during 2010, eliminating our 2011 debt obligations.  We are looking forward to the planned 2011 U.S. launches of generic versions of Concerta® and Lipitor® which will support our continued revenue and earnings performance."

Watson's preliminary results remain subject to finalization by its management and review by its outside independent accountants.  The company plans to report final results for the fourth quarter and full year 2010 on February 15, 2011.

Watson will provide an update of its business and will provide an outlook for 2011 at an Investor Day to be held in New York City on Friday, January 21, 2010 at 8:30 a.m. eastern time.  The January 21st analyst meeting will be webcast live, and can be accessed by logging onto http://www.watson.com or the following link: '/>"/>

SOURCE Watson Pharmaceuticals, Inc.
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