Watson Pharma Climbing After Hours on Generic Hypertension Drug Approval (WPI)
3/15/2010-Shares of Watson Pharmaceuticals (NYSE: WPI) are trading 1.3% higher to $40.82 after hours Monday after the company announced that its subsidiary, Watson Laboratories, Inc. - Florida, has received approval from the U.S. Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) for Diltiazem Hydrochloride Extended-Release tablets, the generic equivalent to Biovail Laboratories International SRL's Cardizem(R) LA product.
Watson intends to launch its generic version of Cardizem(R) LA immediately.
Diltiazem Hydrochloride Extended-Release tablets are indicated for the treatment of hypertension.
In 2009, Cardizem(R) LA had total U.S. sales of approximately $94.1 million, according to IMS Health.
Write to Chip Brian at cbrian@tradethetrend.com
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