Watson Talks Up Prochieve And Global Expansion At Analyst Meeting
Watson Pharmaceutical Inc.'s recent analyst meeting provided a substantial window on a company that is in the midst of a multi-year transformation, with insights into its growth strategy through 2013, but also with some potentially important qualifiers.
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Despite a disappointing advisory committee review for its progesterone gel for preterm birth, Watson said it will continue to push for approval. The company also bolsters its Australian generics business with the acquisition of Ascent.
Most of the top 20 generic drug makers are subsidiaries of diversified pharmas or smaller generics-only plays based in the Far East. But diversification, although long a goal, is now urgent for the three major independent generic firms – Teva, Mylan and Watson.
Watson is progressing on a multi-year effort to diversify beyond its core U.S. generics business into branded drugs and international markets.