Watson Launches Generic Lipitor
PARSIPPANY, N.J., Nov. 30, 2011 /PRNewswire via COMTEX/ --Watson Pharmaceuticals, Inc. (NYSE: WPI) today confirmed that Watson Pharmaceuticals, Inc., has launched an authorized generic version of LIPITOR®(atorvastatin calcium tablets) as part of an exclusive agreement with Pfizer Inc. Watson began shipping the product today. LIPITOR®is indicated as an adjunct to diet to reduce elevated total cholesterol, LDL, triglycerides and to increase HDL cholesterol.
Under the terms of the exclusive supply and distribution agreement, Pfizer manufactures and supplies Watson with all dosage strengths of the authorized generic product. Watson markets and distributes the product in the United States. Pfizer will receive a share of the net sales from Watson's sales of the product. The agreement runs until November 30, 2016. Other terms of the agreement have not been disclosed.
For the most recent twelve months ending September 30, 2011, LIPITOR®had sales of approximately $7.8 billion, according to IMS Health data.
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About Watson Pharmaceuticals, Inc.
Watson Pharmaceuticals, Inc. is an integrated global specialty pharmaceutical company. The Company is engaged in the development, manufacturing, marketing and distribution of generic pharmaceuticals and specialized branded pharmaceutical products focused on Urology and Women's Health. Watson has operations in many of the world's established and growing international markets.
For press release and other company information, visit Watson Pharmaceuticals' Web site at http://www.watson.com.
Statements contained in this press release that refer to non-historical facts are forward-looking statements that reflect Watson's current perspective of existing information as of the date of this release. It is important to note that Watson's goals and expectations are not predictions of actual performance. Actual results may differ materially from Watson's current expectations depending upon a number of factors, risks and uncertainties affecting Watson's business. These factors include, among others, the difficulty of predicting the timing and outcome of the pending patent litigation and risks that an adverse outcome in such litigation could render Watson liable for substantial damages; the impact of competitive products and pricing; the timing and success of product launches; difficulties or delays in manufacturing; the availability and pricing of third party sourced products and materials; successful compliance with FDA and other governmental regulations applicable to Watson and its third party manufacturers' facilities, products and/or businesses; changes in the laws and regulations, including Medicare and Medicaid, affecting among other things, pricing and reimbursement of pharmaceutical products; and such other risks and uncertainties detailed in Watson's periodic public filings with the Securities and Exchange Commission, including but not limited to Watson's quarterly report on form 10-Q for the quarter ended September 30, 2011 and Watson's annual report on Form 10-K for the year ended December 31, 2010. Except as expressly required by law, Watson disclaims any intent or obligation to update these forward-looking statements.
LIPITOR®is a registered trademark of Pfizer Inc.
SOURCE Watson Pharmaceuticals, Inc.
Posted: November 2011