CORONA, Calif., March 6 /PRNewswire-FirstCall/ -- Watson Pharmaceuticals,
Inc. (NYSE: WPI), a leading specialty pharmaceutical company, announced today
that it has reached a settlement with Elan Corporation, Plc on outstanding
patent litigation related to Watson's generic version of Naprelan(R) (naproxen
Under the terms of the agreement, Watson will pay Elan $18 million in full
settlement of all disputes related to Watson's development, manufacturing,
marketing and sale of its naproxen sodium product. Watson also has agreed not
to market or sell its naproxen sodium product until the expiration or final
finding of invalidity or unenforceability of U.S. Patent No. 5,637,320. Other
details concerning the settlement have not been disclosed.
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
Pharmaceutical's Web site at http://www.watson.com.
Watson's Forward-Looking Statement
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, risks that resolution of patent infringement litigation through
settlement could result in investigations or actions by private parties or
government authorities, including the U.S. Department of Justice and /or the
Federal Trade Commission; the difficulty of predicting the timing or outcome
of litigation related to patent infringement; the impact of competitive
products and pricing; market acceptance of and continued demand for Watson's
products; 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,
Naprelan(R) is a registered trademark of Elan Corporation, Plc
SOURCE Watson Pharmaceuticals, Inc.
of Watson Pharmaceuticals, Inc.,
Web Site: http://www.watson.com