DOW JONES NEWSWIRES
Watson Pharmaceuticals Inc. (WPI) has filed an abbreviated
new-drug application with the U.S. food and Drug Administration for
its generic version of Forest Laboratories Inc.'s (FRX) Bystolic
hypertension drug.
Forest Labs and Johnson & Johnson's (JNJ) Janssen
Pharmaceutica NV disclosed earlier Wednesday that they have sued
several drug makers, including Watson, over plans to market generic
versions of Bystolic, citing an existing patent.
Watson said it believes it may be a "first applicant" to file an
abbreviated new-drug application for a generic version of Bystolic
and may be entitled to 180 days of market exclusivity, if the
application is approved.
Watson has seen strong sales of its generics as health-care
companies and consumers try to reduce spending on health-related
products and services. Watson is trying to expand its brand-name
drug business, though it recently hit a regulatory setback with a
proposed new drug to prevent premature births.
The company benefited from its introduction of authorized
generic versions of Johnson & Johnson's Concerta treatment for
attention-deficit/hyperactivity disorder in May, as well as Pfizer
Inc.'s (PFE) Lipitor cholesterol-lowering drug in November.
Last month, Watson said its fourth-quarter profit surged as the
introduction of a generic version of Lipitor and other products
boosted sales by more than 60%.
Shares closed off 1.6% at $59.21 and were unchanged after hours.
The stock is down 1.9% so far this year through Wednesday's
close.
-By Nathalie Tadena, Dow Jones Newswires; 212-416-3287;
nathalie.tadena@dowjones.com