Navigation Links
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: http://www.videonewswire.com/event.asp?id=75026.  A replay of the webcast will also be available on Watson's web site.About Watson Pharmaceuticals, Inc.Watson Pharmaceuticals, Inc. is a leading global specialty pharmaceutical company. The Company is engaged in the development and distribution of generic pharmaceuticals and specialized branded pharmaceutical products focused on urology and women's health. Watson has operations in many of the world's established and growing international markets.

In the U.S., the Watson brand portfolio includes RAPAFLO®, GELNIQUE®, Oxytrol®, TRELSTAR®, Crinone®  and INFeD®, and ella®.  In addition, Watson markets the following brands under co-promotion agreements: AndroGel®, with Abbott Laboratories, and Femring®, with Warner Chilcott plc. The Watson brand pipeline portfolio includes a number of products, including Prochieve®, under development with Columbia Laboratories for prevention of pre-term birth in women with a short cervix, recombinant follicle stimulating hormone (rFSH) in development with Itero Biopharmaceuticals for female infertility, EsmyaTM under development with Gedeon Richter for the treatment of uterine fibroids, and two novel new contraceptives.

For press release and other company information, visit Watson Pharmaceuticals' Web site at http://www.watson.com.

Cautionary Statement Regarding Preliminary Results and Forward-Looking InformationStatements in this press release that refer to financial results for 2010, including earnings per share, are preliminary estimates and reflect Watson's expected financial results as of the date of this release, and are subject to change.  Statements contained in this press release that refer to non-historical facts are forward-looking statements that reflect Watson's current perspective of existing information as of the date of this release. It is important to note that Watson's goals and expectations are not predictions of actual performance. Actual results may differ materially from Watson's current expectations depending upon a number of factors affecting Watson's business. These factors include, among others, the inherent uncertainty associated with financial estimates; the possibility that the financial estimates will change after further review by Watson's management or outside independent accountants or due to discovery of additional or revised information or subsequent events; variability of revenue mix between the Company's Brand, Generic and Distribution business units; periodic dependence on a small number of products for a material source of net revenue or income; variability of trade buying patterns; changes in generally accepted accounting principles; risks that the carrying values of assets may be negatively impacted by future events and circumstances;  the impact of competitive products and pricing; the timing and success of product launches; difficulties or delays in manufacturing; the availability and pricing of third party sourced products and materials; successful compliance with FDA and other governmental regulations applicable to Watson, its subsidiaries, and its third party manufacturers' facilities, products and/or businesses; changes in the laws and regulations, including Medicare and Medicaid  affecting, among other things, pricing and reimbursement of pharmaceutical products; and such other risks and uncertainties detailed in Watson's periodic public filings with the Securities and Exchange Commission, including but not limited to Watson's annual report on Form 10-K for the year ended December 31,2009 and Watson's quarterly report on Form 10-Q for the period ended September 30, 2010. Except as expressly required by law, Watson disclaims any intent or obligation to update these forward-looking statements.

(Logo: http://photos.prnewswire.com/prnh/20100121/LA41294LOGO)   CONTACTS:Investors:Patty EisenhaurWatson Pharmaceuticals, Inc. (973) 355-8141Media:Charlie MayrWatson Pharmaceuticals, Inc. (973) 355-8483
'/>"/>

SOURCE Watson Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Watson to Host Investor Day on January 21 in New York City
2. Watsons Generic Fentora® Receives FDA Approval
3. Watson to Present at the 29th Annual JP Morgan Healthcare Conference
4. Watson Announces Novel Oral Contraceptive Approval
5. Watson and Richter Announce Exclusive License Agreement for Esmya™
6. Watson Confirms Exalgo™ Patent Challenge
7. Watson Announces Pricing of Secondary Offering By Selling Stockholder
8. Watson Announces Commencement of Secondary Offering by Selling Stockholder
9. Watson To Present At The 2010 Credit Suisse Healthcare Conference
10. Watson Confirms Crestor® Patent Challenge
11. Watsons Generic Version of Lotrel ® Receives FDA Approval
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... , June 23, 2016 The vast majority ... outpatient dialysis facility.  Treatments are usually 3 times a ... per visit, including travel time, equipment preparation and wait ... but especially grueling for patients who are elderly and ... skilled nursing and rehabilitation centers for some duration of ...
(Date:6/23/2016)... FRANKLIN, Tenn. , June 23, 2016 ... for automating, integrating and transforming the patient ... launch of several innovative new products and ... depth of its revenue cycle offerings. These ... establish more efficient workflows, remain compliant in ...
(Date:6/23/2016)... 2016  The National Pharmaceutical Council (NPC) today ... policy research organization as its newest member.  ... vice president and chief scientific officer, Mallinckrodt Pharmaceuticals, ... NPC Board of Directors. ... joined us in support of our efforts to ...
Breaking Medicine Technology:
(Date:6/26/2016)... ... ... Brent Kasmer, a legally blind and certified personal trainer is helping to develop a weight ... app plans to fix the two major problems leading the fitness industry today:, ... program , They don’t eliminate all the reasons people quit their exercise program ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... "With 30 ... their specific project," said Christina Austin - CEO of Pixel Film Studios. , ... and all within Final Cut Pro X . Simply select a ProHand generator ...
(Date:6/25/2016)... ... June 25, 2016 , ... Conventional wisdom preaches the benefits of moderation, whether ... latter, setting the bar too high can result in disappointment, perhaps even self-loathing. However, ... their goal. , Research from PsychTests.com reveals that behind the tendency ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... Scientific Sessions in Dallas that it will receive two significant new grants to ... came as PHA marked its 25th anniversary by recognizing patients, medical professionals and ...
(Date:6/24/2016)... TX (PRWEB) , ... June 24, 2016 , ... People ... part in Genome magazine’s Code Talker Award, an essay contest in which patients and ... an award to be presented at the 2016 National Society of Genetic Counselors (NSGC) ...
Breaking Medicine News(10 mins):