Watson 1st-qtr EPS rise of 84% beats analysts' forecasts
US generic drugs major Watson Pharmaceuticals (NYSE: WPI) yesterday posted a very strong set of first-quarter 2012 results, with sales boosted by its launch of generic versions of Pfizer’s blockbuster cholesterol lowerer Lipitor (atorvastatin) and Sanofi’s blood thinner Lovenox (enoxaparin), beating analysts’ consensus forecasts.
Net income for the first quarter 2012 leapt 87% to $208.8 million, or $1.64 per diluted share on a non-GAAP basis, or $0.89 in the first quarter 2011. On a GAAP basis, net revenue increased 74% to $1.5 billion. GAAP earnings per diluted share for the first quarter 2012 were $0.43, compared to $0.36 in the prior year period. Adjusted EBITDA increased 70% to $367.2 million. Cash and marketable securities were $182.2 million as of March 31, 2012.
2012 financial outlook
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
More Features in Generics
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze