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NEW YORK — Generic drug maker Watson Pharmaceuticals expects sales of $4.2 billion for 2011, the company said Friday.
The company expected the forecasted sales for the year to include between $2.8 billion and $3 billion in global generics sales, compared with around $2.35 billion in 2010. Total sales for 2010 were around $3.5 billion, according to preliminary financial results released last week.
“2010 was an extremely successful year within our global integrated pharmaceutical company,” Watson president and CEO Paul Bisaro said. “Total net revenues increased more than 25%, adjusted cash earnings per share increased approximately 12% and cash flow from operations was in excess of $570 million.”
Other highlights for the year included the company’s first biologic development project, as well as expansions in Watson’s branded and generic drug pipelines, Bisaro said. The company is planning to launch generic versions of Johnson & Johnson’s attention deficit hyperactivity disorder drug Concerta (methylphenidate) and Pfizer’s cholesterol medication Lipitor (atorvastatin) in May and November, respectively. Watson filed 34 generic approval applications in 2010 and has more than 120 on file with the Food and Drug Administration, including 29 potential first-to-file or shared exclusivity products.