MORRISTOWN, N.J., July 28, 2009 /PRNewswire-FirstCall via COMTEX/ -- Watson Pharmaceuticals, Inc. (NYSE: WPI), a leader in generic and specialty branded pharmaceuticals, today announced a license agreement with GeneraMedix, Inc., for the exclusive US marketing rights to a generic version of Ferrlecit (sodium ferric gluconate complex in sucrose injection), a drug indicated for the treatment of iron deficiency anemia in hemodialysis patients receiving supplemental epoetin therapy.
GeneraMedix has an Abbreviated New Drug Application (ANDA) on file with the FDA for a sodium ferric gluconate complex in sucrose product that is packaged in a vial. The application is under expedited review with the FDA. Under the terms of the agreement, GeneraMedix will supply the product to Watson, which will market, sell and distribute the product in the US. Terms of the license agreement have not been disclosed.
Watson currently markets the brand product, Ferrlecit, under a supply and distribution agreement with Sanofi-Aventis. The Ferrlecit product rights return to Sanofi-Aventis on December 31, 2009.
About Watson Pharmaceuticals, Inc.
Watson Pharmaceuticals, Inc. is a global leader in the development and distribution of pharmaceuticals with a broad portfolio of generic products and a specialized portfolio of branded pharmaceuticals focused on Urology, Gynecology and Nephrology (Medical).
For press releases and other company information, visit Watson Pharmaceuticals' Web site at http://www.watson.com.
About GeneraMedix, Inc.
GeneraMedix, Inc. is a privately held pharmaceutical company specializing in difficult to develop and/or manufacture injectable products for the U.S. hospital and specialty markets. In addition to its marketed products, GeneraMedix has a significant number of injectable products under development, as well as a number of products currently under FDA review. Headquartered in Liberty Corner, New Jersey, the company was founded in July of 2004, with equity partners GTCR Golder Rauner, LLC, and Ferrer Freeman and Company, LLC. Additional information is available on the company's website at www.generamedix.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 impact of competitive products and pricing; market acceptance of and continued demand for Watson's products; the difficulty of predicting the timing or outcome of FDA approvals and actions, if any; 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, 2008.
SOURCE Watson Pharmaceuticals, Inc.