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Watson Pharma reports positive Q4 results

Watson Pharmaceuticals has reported a 21 per cent increase in net revenue to $952.7m for Q4 2010
Watson Pharmaceuticals has reported a 21 per cent increase in net revenue to $952.7m for Q4 2010. The company's net income, on a non-GAAP basis, stood at $116.5m for the quarter, a rise of 23 per cent. 

For the full year, net revenue increased by 28 per cent to $3.6bn and net income rose by 22 per cent to $425.4m. 

Watson reported a 17 per cent rise in EBITDA (earnings before interest, taxes, depreciation and amortisation) to $220.8m for the fourth quarter of 2010. Adjusted EBITDA for the full year was $838.2m, an increase of 22 per cent on 2009. 

Paul Bisaro, Watson president and CEO, said: "2010 was an extremely successful year for Watson … strong cash flow from operations of over $570m enabled us to reduce our debt … which provides us the flexibility to capitalise on future opportunities to grow the company.

"We also reported continued progress in our global brands and generics businesses. During the year we launched seven new generic products in the US and disclosed the initiation of 17 new patent challenges."

The company also invested in Brazil and Mexico in 2010.

15th February 2011

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