Watson Provides Update on Ferrlecit Supply and Distribution Agreement
Watson to Market and Sell Ferrlecit(R) through December 31, 2009
CORONA, Calif., May 18 /PRNewswire-FirstCall/ -- Watson Pharmaceuticals, Inc. (NYSE:WPI) , a leading specialty pharmaceutical company, today announced that the Swiss Chambers of Commerce Court of Arbitration has ruled that the Ferrlecit(R) (sodium ferric gluconate complex in sucrose) supply and distribution agreements between Watson and Sanofi-aventis will expire on December 31, 2009. As a result of today's decision, Watson will continue to market and sell Ferrlecit(R) through December 31, 2009.
"We are very pleased with the panel's decision which affirms our right to market Ferrlecit(R) and allows us to continue our commitment to the nephrology community," said Paul Bisaro, Watson's President and Chief Executive Officer. "We have plans to continue our direct marketing efforts in nephrology, as well as extending the nephrology team's selling and marketing efforts to new products and areas where this seasoned sales force can provide additional value."
Watson recently launched RAPAFLO(TM) (silodosin), the company's new alpha blocker for the treatment of the signs and symptoms of benign prostatic hyperplasia (BPH) and GELNIQUE(TM) (oxybutynin chloride) gel 10%, the first and only topical gel for the treatment of overactive bladder with symptoms of urge urinary incontinence, urgency, and frequency. The Company also has a New Drug Application pending for its six month formulation of Trelstar(R) (triptorelin pamoate), a luteinizing hormone releasing hormone (LHRH) agonist for the palliative treatment of advanced prostate cancer. Watson anticipates that FDA will take action on this application in the third quarter 2009.
About Watson Pharmaceuticals, Inc.
Watson Pharmaceuticals, Inc. is a global leader in the development and distribution of pharmaceuticals with a broad portfolio of generic products and a specialized portfolio of brand pharmaceuticals focused on Urology, Women's Health and Nephrology/Medical.
For press release and other company information, visit Watson Pharmaceuticals' Web site at http://www.watson.com/.
Watson's Forward-Looking Statement
Any statements contained in this press release that refer to future events or other non-historical facts are forward-looking statements that reflect Watson's current perspective of existing trends and information as of the date of this release. Except as expressly required by law, Watson disclaims any intent or obligation to update these forward-looking statements. 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 impact of competitive products and pricing; market acceptance of and continued demand for Watson's products, including Ferrlecit; the difficulty of predicting the timing or outcome of FDA approvals and actions, if any; and 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, 2008.
Source: Watson Pharmaceuticals, Inc.
CONTACT: Patty Eisenhaur of Watson Pharmaceuticals, Inc.,
Web Site: http://www.watson.com/
Posted: May 2009