CORONA, Calif., Feb. 2 /PRNewswire-FirstCall/ -- Watson Pharmaceuticals,
Inc. (NYSE: WPI), a leading specialty pharmaceutical company, announced today
that the U.S. Federal Trade Commission (FTC) and the State of California have
filed a lawsuit in the United States District Court for the Central District
of California alleging that the Company's 2006 patent lawsuit settlement with
Solvay Pharmaceuticals Inc. related to AndroGel(R) 1% (testosterone gel) CIII
"We are disappointed that the FTC has decided to challenge our patent
settlement, as we believe the agreement fully complies with both the spirit
and letter of the antitrust and consumer protection laws, as interpreted by
numerous appellate courts throughout the U.S.," said Paul Bisaro, Watson's
President and Chief Executive Officer. "Importantly, our settlement promotes
competition and confers a meaningful benefit to U.S. consumers by providing
for, among other things, the entry of a generic version of AndroGel(R) five
years prior to the expiration of the AndroGel(R) patents. We intend to
vigorously defend ourselves in this matter."
In 2003, Watson submitted an Abbreviated New Drug Application (ANDA)
seeking approval to market a generic version of AndroGel. Solvay initiated
litigation against Watson alleging that its product infringed Solvay's patent.
Under terms of a 2006 settlement agreement, Solvay granted Watson a
non-exclusive license to the U.S. patents covering AndroGel. Watson agreed
not to commence marketing its generic equivalent product until August 31, 2015
or the date on which another generic product enters the U.S. market, whichever
occurs first. Additionally, Watson agreed to forfeit its 180-day marketing
exclusivity on the product awarded under the Hatch-Waxman Act.
About Watson Pharmaceuticals, Inc.
Watson Pharmaceuticals, Inc. is a leading specialty pharmaceutical company
that develops, manufactures, markets, sells and distributes generic and
specialty brand pharmaceutical products. Watson pursues a growth strategy
combining internal product development, strategic alliances and collaborations
and synergistic acquisitions of products and businesses.
For press releases and other company information, visit Watson
Pharmaceuticals' Web site at http://www.watson.com.
Any statements contained in this press release that refer to future events
or other non-historical facts are forward-looking statements that reflect
Watson's current perspective of existing trends and information as of the date
of this release. Except as expressly required by law, Watson disclaims any
intent or obligation to update these forward-looking statements. 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 difficulty of predicting the timing and outcome of
litigation, including the ultimate outcome of the FTC and State of California
litigation related to AndroGel(R) or the amount of time it will take for the
FTC litigation to be resolved; the impact of competitive products and pricing;
and 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, 2007.
SOURCE Watson Pharmaceuticals, Inc.
CONTACT: Patty Eisenhaur
of Watson Pharmaceuticals, Inc.,
Web Site: http://www.watsonpharm.com