CORONA, Calif., Nov. 28 /PRNewswire-FirstCall/ -- Watson Pharmaceuticals, Inc. , a leading specialty pharmaceutical company, announced today the expansion of its generic product development alliance with Cipla Ltd., the second largest pharmaceutical company in India. The companies’ original agreement was announced in December 2002.
(Photo: http://www.newscom.com/cgi-bin/prnh/20020214/WATSONLOGO )
Under the terms of the expanded agreement, the companies will work together to develop the additional products. Watson will be responsible for pursuing regulatory approvals for all developed products. Cipla will manufacture the products and Watson will have exclusive United States marketing rights. The specific products added to the agreement have not been disclosed.
“We continue to foster our strong relationship with Cipla, based on its vertical integration and proven ability to rapidly formulate products, evident by two Abbreviated New Drug Applications (ANDAs) submitted to date,” began Allen Chao, Ph.D., Watson’s Chairman and CEO. “Expanding our agreement with Cipla is consistent with our strategy of supplementing our internal product development efforts with alliances and product acquisitions that will expand our product portfolio.”
About Watson Pharmaceuticals, Inc.
Watson Pharmaceuticals, Inc., headquartered in Corona, CA, is a leading specialty pharmaceutical company that develops, manufactures, markets, sells and distributes branded and generic pharmaceutical products. Watson pursues a growth strategy combining internal product development, strategic alliances and collaborations and synergistic acquisitions of products and businesses. For press releases and other company information, visit Watson Pharmaceuticals’ Web site at http://www.watsonpharm.com/.
About Cipla Ltd.
Cipla Ltd., the second largest pharmaceutical company in India, develops, manufactures and markets active pharmaceutical ingredients and finished dosage products. As a leading exporter, the company offers a wide range of products in India and abroad, marketing its products in 150 countries worldwide.
Forward-Looking Statement
Statements contained in this press release that refer to future events or other non-historical facts about Watson 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, market acceptance of and continued demand for Watson’s products, including the impact of competitive products and pricing; patents and other intellectual property rights held by competitors and other third parties; the difficulty of predicting the timing or outcome of product development efforts and United States Food and Drug Administration approvals and actions; successful compliance with governmental regulations; and other risks and uncertainties detailed in Watson’s Annual Report on Form 10-K for the year ended December 31, 2002 and its Quarterly Report on Form 10-Q for the quarters ended March 31, June 30, and September 30, 2003.
Photo: http://www.newscom.com/cgi-bin/prnh/20020214/WATSONLOGOWatson Pharmaceuticals, Inc.
CONTACT: Patty Eisenhaur, (Investors), +1-909-493-5611, or Chris Eso,(Media), or +1-909-493-4013, both of Watson Pharmaceuticals, Inc.
Web site: http://www.watsonpharm.com/
