Watson Pharma Says 2009 Profit Could Beat Views
From Associated Press (January 13, 2010)
MORRISTOWN, N.J.--Watson Pharmaceuticals Inc. indicated Wednesday that its 2009 profit and revenue could top its previous predictions thanks to sales of both branded and generic drugs.
The company said its profit will reach or exceed its estimate of $2.50 to $2.58 per share, while it expects revenue to be surpass $2.7 billion. It previously expected about $2.7 billion. Those forecasts exclude any sales made by Arrow Group, which Watson bought for $1.75 billion in early December.
Thomson Reuters says analysts expect a profit of $2.57 per share and $2.74 billion in revenue, on average.
Watson said sales of new generic and brand name drugs were strong, and its distribution revenue increased. Watson’s branded drugs focus on urology and women’s health.
The company will report quarterly results and issue its 2010 outlook on Jan. 21. Analysts expect a profit of $3.12 per share and $3.43 billion for this year.
In morning trading, shares of Watson Pharmaceuticals rose 97
cents, or 2.4 percent, to $40.69. Earlier the stock traded at a
52-week high of $40.74.
Posted: January 2010