"We concluded the quarter with $245.0 million in borrowing capacity available on our revolving credit facility and our debt to adjusted EBITDA ratio remains favorable at 1.4x, affording us the ability to continue to pursue opportunities to expand Watson's businesses," concluded Bisaro.
Business Segment ResultsGlobal Generics Segment InformationThree Months EndedJune 30,Six Months EndedJune 30,(Unaudited; $ in millions)
792.4571.01,392.51,114.8Operating expenses:Cost of sales
439.1305.9728.2593.4Research and development
58.344.6112.786.8Selling and marketing
32.5%33.8%34.7%34.1%Adjusted gross profit (1)
550.4Adjusted gross margin
45.2%48.6%48.0%49.4%(1) Adjusted gross profit represents adjusted net revenue less adjusted cost of sales and excludes amortization of acquired intangibles. Pro forma adjustments for the respective periods include the following: Settlement of contingent asset acquired as part of a business combination
-Operational Excellence Initiative
1.912.25.317.2Purchase accounting adjustments
|SOURCE Watson Pharmaceuticals, Inc.|
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