Press Releases

Rev. Larry Snyder believes that this is a step in the right direction

ALEXANDRIA, Va., Feb. 10, 2012 /PRNewswire-USNewswire/ -- Rev. Larry Snyder, President and CEO of Catholic Charities USA (CCUSA) responds to the Administration's announcement on religious freedom and believes this is a step in the right direction:

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"We are deeply appreciative that the Administration has recognized the importance of a religious organization's fidelity to their deeply held beliefs. 

"This compromise enables Catholic Charities USA to not only continue to provide access to quality healthcare to its 70,000 employees and families across the country of many different faiths and backgrounds, but also guarantees the continued delivery of vital services to the more than 10 million people living in need across the country."

Catholic Charities USA's members provide help and create hope for more than 10 million people a year regardless of religious, social, or economic backgrounds. For almost 300 years, Catholic Charities agencies have worked to reduce poverty by providing a myriad of vital services in their communities, ranging from health care and job training to food and housing.  

SOURCE Catholic Charities USA

PARSIPPANY, N.J., Feb. 10, 2012 /PRNewswire/ -- Watson Pharmaceuticals, Inc. (NYSE: WPI) today confirmed that its subsidiary, Watson Laboratories, Inc., filed an Abbreviated New Drug Application (ANDA) with the U.S. Food and Drug Administration (FDA) seeking approval to market Drospirenone and Ethinyl Estradiol and Levomefolate Calcium Tablets, 3.0 mg/0.02 mg/0.451 mg and Levomefolate Calcium Tablets, 0.451 mg. Watson's ANDA product is a generic version of Bayer HealthCare Pharmaceuticals Inc.'s Beyaz®. Beyaz® is an oral contraceptive indicated for use by women to prevent pregnancy, treat symptoms of premenstrual dysphoric disorder (PMDD) for women who choose to use an oral contraceptive for contraception, treat moderate acne for women at least 14 years old only if the patient desires an oral contraceptive for birth control, and raise folate levels in women who choose to use an oral contraceptive for contraception.

Bayer HealthCare Pharmaceuticals Inc., Bayer Pharma AG, and Merck & Cie filed suit against Watson on February 10, 2012, in the United States District Court for the District of Delaware seeking to prevent Watson from commercializing its product prior to the expiration of U.S. Patent No. 6,441,168.  The lawsuit was filed under the provisions of the Hatch-Waxman Act, resulting in a stay of final FDA approval of Watson's ANDA for up to 30 months from the date the plaintiffs received notice of Watson's ANDA filing or until final resolution of the matter before the court, whichever occurs sooner, subject to any other exclusivities.

Based on available information, Watson believes it may be a "first applicant" to file an ANDA for the generic version of Beyaz® and, should its ANDA be approved, may be entitled to 180 days of generic market exclusivity.

For the twelve months ending December 31, 2011, Beyaz® had total U.S. sales of approximately $97 million according to IMS Health data.

About Watson Pharmaceuticals, Inc.

Watson Pharmaceuticals, Inc. is a leading integrated global pharmaceutical company. The Company is engaged in the development and distribution of generic pharmaceuticals and specialized branded pharmaceutical products focused on Urology and Women's Health. Watson has operations in many of the world's established and growing international markets.

For press release and other company information, visit Watson Pharmaceuticals' Web site at http://www.watson.com.

Forward-Looking Statement

Statements contained in this press release that refer to non-historical facts are forward-looking statements that reflect Watson's current perspective of existing information as of the date of this release. It is important to note that Watson's goals and expectations are not predictions of actual performance. Actual results may differ materially from Watson's current expectations depending upon a number of factors, risks and uncertainties affecting Watson's business. These factors include, among others, the difficulty of predicting the timing or outcome of product development efforts, including FDA and other regulatory agency approvals and actions, if any; the difficulty of predicting the timing and outcome of the pending patent litigation; the impact of competitive products and pricing; the timing and success of product launches; difficulties or delays in manufacturing; the availability and pricing of third party sourced products and materials; successful compliance with FDA and other governmental regulations applicable to Watson and its third party manufacturers' facilities, products and/or businesses; changes in the laws and regulations, including Medicare and Medicaid, affecting among other things, pricing and reimbursement of pharmaceutical products; and such other risks and uncertainties detailed in Watson's periodic public filings with the Securities and Exchange Commission, including but not limited to Watson's quarterly report on form 10-Q for the quarter ended September 30, 2011 and Watson's annual report on Form 10-K for the year ended December 31, 2010. Except as expressly required by law, Watson disclaims any intent or obligation to update these forward-looking statements.

Beyaz® is a registered trademark of Bayer Aktiengesellschaft.  

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CONTACTS: Investors:Patty Eisenhaur (862) 261-8141

Media:Charlie Mayr(862) 261-8030

SOURCE Watson Pharmaceuticals, Inc.

PURCHASE, N.Y., Feb. 10, 2012 /PRNewswire/ -- George Schultze, Founder and Managing Member of Schultze Asset Management, LLC ("SAM"), was a key speaker today in Harvard Business School's Creating Value Through Corporate Restructuring course taught by Professor Stuart Gilson.  During this morning's two sessions, he discussed important risks and opportunities for distressed securities investors in mature industries as demonstrated by the Harvard Business Review case ("Arch Wireless, Inc.") which he helped develop based on his experiences investing in that company.  "It's always a great honor to join Professor Gilson as a guest speaker in his class.  Both the professor and students are excellent and each year that I come in, I feel that I learn something new as well!"  Mr. Schultze added that today's capital markets show interesting similarities for post-reorganization securities to those evident when Arch Wireless restructured a number of years ago.  Similarly, he noted that companies in many of today's very mature industries - such as publishing, yellow pages, and retailing - could benefit from the extreme cost cutting and other shareholder-friendly actions that Arch management employed after it emerged from reorganization. 

Schultze Asset Management, LLC ("SAM") is a specialist alternative investments firm founded by George Schultze in 1998.  It manages pooled investment vehicles and managed accounts for hundreds of clients worldwide with a particular emphasis on distressed securities and special situation investing.  More information about SAM is available at www.samco.net.

CONTACTS:

George J. Schultze, Managing Member, (914) 701-5260 schultze@samco.net Robert Winkler, (914) 701-5260 rwinkler@samco.net

SOURCE Schultze Asset Management, LLC

WASHINGTON, Feb. 10, 2012 /PRNewswire-USNewswire/ -- The United States exported $178.8 billion in goods and services in December 2011, an increase of $1 billion over November 2011, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.

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Exports of goods and services over the last twelve months totaled $2.103 trillion, which is 33.53 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 15.6 percent when compared to 2009, a pace greater than the 15 percent required to double exports by the end of 2014.

"U.S. exports play an essential role in our economic recovery, and it's vital that we provide American business owners with the resources they need to compete in a 21st century global economy," said Fred P. Hochberg, chairman and president of the Export-Import Bank of the United States (Ex-Im Bank). "Ex-Im Bank remains committed to reaching new customers and to helping level the playing field for our nation's exporters."

Over the last twelve months, the major export markets with the largest annualized increase in U.S. goods purchases were Turkey (43.6 percent), Panama (38.6 percent), Honduras (35.0 percent), Argentina (33.2 percent), Hong Kong (31.7 percent), Chile (30.3 percent), Peru (30.0 percent), Brazil (28.3 percent), South Africa (28.0 percent), and Guatemala (26.6 percent).

About Ex-Im Bank:Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past six years, Ex-Im Bank has earned for U.S. taxpayers $3.7 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.

Ex-Im Bank approved $32.7 billion in total authorizations in FY 2011 -- an all-time Ex-Im record. This total includes more than $6 billion directly supporting small-business export sales -- also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $41 billion in U.S. export sales and approximately 290,000 American jobs in communities across the country. For more information, visit www.exim.gov.

SOURCE Export-Import Bank of the United States