Watson gets boost in Q3 from new product introductions

MORRISTOWN, N.J. Profits for generic drug maker Watson Pharmaceuticals got a big boost during third quarter 2009, jumping to $76.1 million from third quarter 2008’s $54 million, the company announced in an earnings report.

Sales of generic drugs were $392.3 million, an 11% increase over $352.2 million last year, thanks to the introduction of such new products as the hypertension and chest pain treatment metoprolol extended-release tablets. At the same time, lower sales of omeprazole – a generic version of AstraZeneca’s Prilosec – offset the increase. Profits from generic drugs were $200.6 million, a $44.9 million increase over third quarter 2008.

The company’s portfolio of branded drugs – such as the benign prostatic hyperplasia treatment Rapaflo (silodosin) and the overactive bladder treatment Gelnique (oxybutynin chloride) – contributed also, with revenues of more than $112 million.