MORRISTOWN, N.J., May 19 /PRNewswire-FirstCall/ -- Watson Pharmaceuticals, Inc. (NYSE: WPI) today announced that its subsidiary Cobalt Pharmaceuticals has received a Notice of Compliance from Health Canada to market Atorvastatin Calcium Tablets in the 10, 20, 40 and 80 mg strengths. Watson has initiated shipments of this product.
Atorvastatin Calcium is the generic equivalent to Pfizer's LIPITOR® tablets and is indicated to reduce the risk of heart attack, stroke, certain kinds of heart surgeries, and chest pain in patients with heart disease or several common risk factors for heart disease. LIPITOR® had total Canadian sales of approximately $1 billion for the twelve months ending March 2010, according to IMS Health.
"We are very pleased that our Cobalt organization will be adding this important therapy to its expanding portfolio of products," said Paul Bisaro, President and CEO of Watson Pharmaceuticals, Inc. "Cobalt is well positioned to maximize the launch of the largest product to be offered as a generic in the history of the Canadian generic pharmaceutical industry."
About Watson Pharmaceuticals, Inc.
Watson Pharmaceuticals, Inc. is a leading global specialty pharmaceutical company. The Company is engaged in the development and distribution of generic pharmaceuticals and specialized branded pharmaceutical products focused on Urology and Women's Health. Watson has operations in many of the world's established and growing international markets.
For press release and other company information, visit Watson Pharmaceuticals' Web site at http://www.watson.com.
Statements contained in this press release that refer to non-historical facts are forward-looking statements that reflect Watson's current perspective of existing information as of the date of this release. It is important to note that Watson's goals and expectations are not predictions of actual performance. 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, the impact of competitive products and pricing; the timing and success of product launches; difficulties or delays in manufacturing; the availability and pricing of third party sourced products and materials; successful compliance with FDA and other governmental regulations applicable to Watson and its third party manufacturers' facilities, products and/or businesses; changes in the laws and regulations affecting among other things, pricing and reimbursement of pharmaceutical products; and such 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 31,2009 and Watson's quarterly report on Form 10-Q for the period ended March 31, 2010. Except as expressly required by law, Watson disclaims any intent or obligation to update these forward-looking statements.
LIPITOR ® is a registered trademark of Pfizer, Inc.
SOURCE Watson Pharmaceuticals, Inc.