Watson sales, profits surge in Q3

PARSIPPANY, N.J. — Watson Pharmaceuticals had sales of $1.1 billion and profits of $68.1 million in third quarter 2011, the drug maker said in an earnings statement Tuesday.

The latest figures compared with sales of $882.4 million and profits of $25.7 million in third quarter 2010, the company said. For the first nine months of 2011, sales were $3.04 billion and profits were $166.1 million, compared with sales of $2.61 billion and profits of $166.1 million in the first nine months of 2010.

Global sales of generic drugs totaled $792.4 million, compared with $566.1 million in third quarter 2010. Generics sales for the first nine months of 2011 were $2.19 billion, compared with $1.69 billion during the first nine months of 2010. Global branded products sales were $92.5 million, compared with $82.4 million in third quarter 2010, while sales for the first nine months of 2011 were $264.8 million, compared with $231.7 million during the same period in 2010.

"Our exceptional performance in the third quarter, as measured by double-digit revenue and earnings growth, was driven once again by our focus on the execution of our business growth strategies in global generics and brands and our continued focus on operational excellence," Watson president and CEO Paul Bisaro said.


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