Watson forecasts successful year
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.
Chance Cole promoted to VP at The Little Clinic
BRENTWOOD, Tenn. — The Little Clinic has promoted Chance Cole to VP business development and processes, handling business-to-business and overall business development, process improvement and nonclinical training activities.
Cole joined the company in July 2010 as The Little Clinic manager of integration. Prior to accepting a position with The Little Clinic, he spent 20 years with Kroger as a store manager, Kroger coordinator, Kroger merchandising, retail operations manager and marketplace merchandising manager.
"Chance has been an integral part of our success since he arrived, and I’m looking forward to the leadership he will provide in his new role," stated Mike Stoll, CEO for The Little Clinic. "His understanding of the inner workings of retail grocery stores makes him a perfect fit for this position."
The Little Clinic healthcare centers currently are located inside select Kroger stores in Kentucky, Tennessee and Ohio; King Soopers stores in Colorado; and Fry’s Food Stores. The Little Clinic also provides management to branded clinics in Florida and Georgia.
Forest Labs announces phase-3 trial results for depression drug
NEW YORK — A drug for major depressive disorder worked better than placebo, according to results of a late-stage clinical trial announced Thursday.
U.S. drug maker Forest Labs and French drug maker Pierre Fabre Medicament said that while the overall difference between patients treated with levomilnacipran and those treated with the placebo was not statistically significant, the drug consistently demonstrated improvement relative to the placebo over the course of the phase-3 trial.
The companies said the results differed from the findings of a previous 563-patient phase-2 study of the drug, which showed statistically significant improvement over placebo.