CORONA, Calif., Dec. 22 /PRNewswire-FirstCall/ -- Watson Pharmaceuticals, Inc. , a leading specialty pharmaceutical company, announced today that, under a supply agreement with GlaxoSmithKline (GSK), Watson has initiated shipments of bupropion hydrochloride sustained-release 200mg tablets; the generic version of GSK’s Wellbutrin SR(R) 200mg, which is indicated for the treatment of depression. For the 12-months ending October 2004, Wellbutrin SR(R) 200mg had sales of approximately $220 million, according to IMS Health data.
Under a previously announced agreement with GSK, Watson received rights in the United States (U.S.) to distribute 100mg, 150mg and 200mg bupropion hydrochloride sustained-release tablets, manufactured by a GSK subsidiary, on a per strength basis, once a third party launches a fully substitutable generic equivalent of the relevant strength of these products in the U.S. market. Watson launched bupropion hydrochloride sustained-release tablets in the 100mg and 150mg strength earlier this year. Under the terms of the supply agreement, GSK will manufacture and supply the bupropion hydrochloride sustained-release 200mg tablets to Watson, who will market, sell and distribute the generic product in the U.S. GSK will receive a share of the profits from Watson’s sales of the generic product in the U.S. market. Further details on the agreement have not been disclosed.
About Watson Pharmaceuticals, Inc.
Watson Pharmaceuticals, Inc., headquartered in Corona, California, is a leading specialty pharmaceutical company that develops, manufactures, markets, sells and distributes brand 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 Pharmaceutical’s Web site at http://www.watsonpharm.com/.
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. 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 regulatory agency approvals and actions; successful compliance with governmental regulations; 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, 2003 and its Quarterly Report on Form 10-Q for the quarters ended March 31, June 30 and September 30, 2004. Except as expressly required by law, Watson disclaims any intent or obligation to update these forward-looking statements.
Wellbutrin SR(R) is a registered trademark of the GlaxoSmithKline group of companies.
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CONTACT: Investors, Patty Eisenhaur, +1-951-493-5611, or Media, ChrisEso, +1-951-493-4013, both of Watson Pharmaceuticals, Inc.
Web site: http://www.watsonpharm.com/
