Watson Pharmaceuticals Inc. (WPI) said that it predicted continued growth in its Generics, Brand and Distribution businesses, with 2010 revenues expected to be about $3.5 billion and double-digit annual cash earnings per share growth projected for 2010-2012.
Watson said that it currently has more than 100 ANDAs on file in the U.S., with 38 potential first-to-file or shared exclusivity products. The Company said that it expects to submit more than 100 product applications worldwide in 2010.
The company forecast 2010 Generics segment revenues to be about $2.3 billion, a record level which includes the addition of $600 million in international revenue. The company forecast Brand segment revenues to be about $460 million in 2010. Total Distribution segment revenue is expected to be about $700 million in 2010.
Cash earnings for 2010 is expected to be between $3.05 and $3.30 per share and adjusted EBITDA is expected to be between $760 million and $810 million.
Analysts polled by Thomson Reuters expect the company to report earnings of $3.14 per share on revenues of $3.44 billion for fiscal 2010. Analysts' estimates typically exclude special items.
For comments and feedback: editorial@rttnews.com