Gross margin for the Global Brands segment increased 0.6 percentage points to 77.8 percent.
Global Brands R&D investment increased 29 percent to $22.2 million in the second quarter 2011 as a result of increased biosimilar R&D investment, clinical study and other costs. Global Brands announced the submission of a New Drug Application (NDA) for PROCHIEVE® with expected FDA action in February of 2012, launched a new oral contraceptive Generess™ Fe and announced new research for RAPAFLO®, highlighting its ability to reduce symptoms of moderate to severe chronic prostatitis/chronic pelvic pain syndrome (CP/CPPS), potentially expanding the reach for this important product. Following the close of the quarter, the group also announced an exclusive licensing agreement with Antares Pharma, Inc. to commercialize its topical oxybutynin gel product in the U.S. and Canada.
Distribution Segment InformationThree Months EndedJune 30,Six Months EndedJune 30,(Unaudited; $ in millions)
422.2Operating expenses:Cost of sales
149.2168.5297.9361.0Selling and marketing
15.4%16.1%16.3%14.5%Distribution segment net revenue for the second quarter 2011 decreased 12 percent to $176.4 million, due to fewer third-party product launches in the quarter. Distribution revenue consists only of sales of third-party products.
Distribution segment gross margin was 15.4 percent in the second quarter 2011.
Other Operating ExpensesConsolidated general a
|SOURCE Watson Pharmaceuticals, Inc.|
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