Watson Pharmaceuticals' Q1 revenues up 28%

MORRISTOWN, N.J. Watson Pharmaceuticals had revenues of $856.5 million in the first quarter of this year, a 28% increase over first quarter 2009, the generic drug maker said Monday.

Meanwhile, profits were $100.3 million, compared with $80.2 million the previous year.

“Watson completed its first quarter with strong earnings and significant momentum for the remainder of the year,” president and CEO Paul Bisaro said in a statement. “Our generics business benefited from the first full quarter of sales from our newly acquired international business, the launch of diltiazem LA, as well as growth of our metoprolol business.”

Generics had global sales of $543.8 million. Global branded product sales were $72.4 million, a $25.8 million decrease from first quarter 2009, due to the December 2009 loss of the drug Ferrlecit (sodium ferric gluconate complex), though increased sales of drugs such as Rapaflo (silodosin) and Gelnique (oxybutynin chloride) offset the decrease.