By Ben Fox Rubin
Watson Pharmaceuticals Inc. (WPI) said it received approval from
the U.S. Food and Drug Administration for the generic version of
Sanofi's (SNY) Avapro.
Avapro, the brand name for Irbesartan, is used for high blood
pressure and for kidney disease caused by diabetes. For the 12
months ended Aug. 31, Avapro and its generic equivalents had total
U.S. sales of about $390 million, Watson said.
Watson said it intends to start shipping the product
immediately.
The pharmaceutical company also said it received FDA approval
for the generic equivalent of Allergan Inc.'s (AGN) Sanctura XR.
The drug--which had total sales of $67 million for the 12 months
ended July 31, Watson said--is used to treat an overactive
bladder.
Watson has seen its sales surge over the past year with the
launch of new generic drugs and increased demand as health-care
companies and consumers try to reduce spending on health-related
products and services. The company also is trying to expand its
brand-name drug business.
In July, Watson swung to a second-quarter loss as
acquisition-related charges masked the drug maker's
stronger-than-expected revenue growth.
Watson's shares closed Friday at $86.67 and were down three
cents after hours. The stock is up 44% so far this year.
Write to Ben Fox Rubin at ben.rubin@dowjones.com
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