Watson Receives First FDA Approval for Manufacturing Product at Its Goa, India Facility
CORONA, Calif., Sept. 4 -- Watson Pharmaceuticals, Inc. , a leading specialty pharmaceutical company, announced today that it has received its first U.S. Food and Drug Administration (FDA) product approval at its Goa, India facility. During the next several months the company plans to seek FDA approval to manufacture additional solid dosage products at the facility. By early 2008, the Goa facility is expected to be producing over 1 billion tablets and capsules annually for the U.S. market.
"This approval represents a key milestone for Watson, demonstrating our rapid progress toward building an offshore infrastructure," said Allen Chao, Ph.D., Watson's Executive Chairman. "In the coming months we anticipate making additional FDA submissions to transfer certain products to this facility to achieve efficiencies in scale and cost. This will enhance our ability to provide quality, low cost generic pharmaceutical products to the U.S. marketplace."
About Watson Pharmaceuticals, Inc.
Watson Pharmaceuticals, Inc., headquartered in Corona, CA, is a leading specialty pharmaceutical company that develops, manufactures, markets, sells and distributes brand and generic 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 Pharmaceuticals' Web site at http://www.watsonpharm.com.
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, difficulties or delays in transferring product manufacturing to the Goa facility; difficulties or delays in obtaining U.S. Food and Drug Administration or other regulatory approvals to manufacture products at the Goa, India site for the U.S. market; the impact of competitive products and pricing; market acceptance of and continued demand for Watson's products; difficulties or delays in manufacturing; 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, 2006.