For the full year 2011, Global Brands segment net revenue increased to $441.0 million.
Global Brands segment adjusted gross margin for the full year 2011 was 78.7 percent, compared to 77.8 percent in 2010.Distribution Segment InformationThree Months EndedTwelve Months EndedDecember 31,December 31,(Unaudited; $ in millions)
830.7Operating expenses:Cost of sales
214.6175.6652.7711.2Selling and marketing
14.6%13.7%15.9%14.4%Distribution segment net revenue for the fourth quarter 2011 increased 24 percent to $251.4 million compared to $203.4 million in the fourth quarter 2010. The increase was related to new third-party products launched during the fourth quarter. Distribution revenue consists only of sales of third-party products and excludes sales of Watson's brand and generic products.
Distribution segment adjusted gross margin was 14.6 percent in the fourth quarter 2011.
For the full year 2011, Distribution segment net revenues decreased 7 percent or $776.2 million, compared to $830.7 million in 2010. This decrease resulted from fewer new third party product launches.
Other Operating ExpensesConsolidated general and administrative expenses were $103.2 million in the fourth quarter 2011, a decrease of $19.2 million from the fourth quarter 2010. The prior year period includes a $40 million reserve associated with drug pricing litigation. Amortization expense for the fourth quarter 2011 was $151.3 million, compared to $52.0 million in fourth quarter 2010. The increase was primarily the result of
|SOURCE Watson Pharmaceuticals, Inc.|
Copyright©2010 PR Newswire.
All rights reserved