Watson Pharma (WPI) Preliminary FY11 Numbers Top Views; Guides FY12 EPS, Revs
Tweet
Share
E-mailGet Alerts WPI Hot Sheet
Price: $85.73 --0%
Financial Fact:
Total operating expenses: 1.86B
Today's EPS Names:
EDXC, BICX, FBPI, More
Financial Fact:
Total operating expenses: 1.86B
Today's EPS Names:
EDXC, BICX, FBPI, More
Join SI Premium – FREE
Watson Pharmaceuticals, Inc. (NYSE: WPI) today announced preliminary 2011 non-GAAP earnings per share of $4.75-$4.77, a 39 percent increase over 2010 full year earnings during its third annual Investor Meeting in New York City. The Street sees EPS of $4.61. Excluding the November 2011 launch of generic Lipitor® which is expected to represent a $0.64 earnings contribution, earnings grew at approximately 20 percent for the full year. The Company also reported preliminary full year 2011 revenues of approximately $4.57 billion, an increase of 28 percent over 2010. The Street is modeling revs of $4.53 billion.
The Company noted that its Global Generics revenues of approximately $3.36 billion were driven by the launch of generic Concerta®, by higher generic Lipitor® sales resulting from its ability to maximize the launch opportunity, as well the continued strong performance of its modified-release and oral contraceptive franchises. In addition, Watson's international generics business performed well, supported by the May 2011 strategic acquisition of Specifar. The Company said that Global Brands revenues of approximately $440 million, and Anda Distribution revenues of approximately $776 million were in line with its full year forecasts.
Update on Progesterone Vaginal Gel 8% Application
Regarding the vote by the FDA Advisory Committee for Reproductive Health Drugs, Bisaro noted that the Company was disappointed in the outcome and reiterated that the clinical studies supporting the application were conducted in accordance with a clinical plan agreed to by FDA prior to initiation and that the statistical analysis of the clinical data was based on a plan agreed to in advance by FDA. He said Watson and Columbia Laboratories will continue to work with FDA over the next few weeks to pursue all options related to the approval of this critical therapy.
Sees FY12 revs of about $5.3 billion and non-GAAP EPS of $5.25 - $5.55. The Street sees revs of $5.30 billion and EPS of $5.78.
The Company noted that its Global Generics revenues of approximately $3.36 billion were driven by the launch of generic Concerta®, by higher generic Lipitor® sales resulting from its ability to maximize the launch opportunity, as well the continued strong performance of its modified-release and oral contraceptive franchises. In addition, Watson's international generics business performed well, supported by the May 2011 strategic acquisition of Specifar. The Company said that Global Brands revenues of approximately $440 million, and Anda Distribution revenues of approximately $776 million were in line with its full year forecasts.
Update on Progesterone Vaginal Gel 8% Application
Regarding the vote by the FDA Advisory Committee for Reproductive Health Drugs, Bisaro noted that the Company was disappointed in the outcome and reiterated that the clinical studies supporting the application were conducted in accordance with a clinical plan agreed to by FDA prior to initiation and that the statistical analysis of the clinical data was based on a plan agreed to in advance by FDA. He said Watson and Columbia Laboratories will continue to work with FDA over the next few weeks to pursue all options related to the approval of this critical therapy.
Sees FY12 revs of about $5.3 billion and non-GAAP EPS of $5.25 - $5.55. The Street sees revs of $5.30 billion and EPS of $5.78.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Etsy upgraded to buy at BofA on durable growth, buyback potential
- Wolfe remains "broadly bullish on AI semis stocks", names Top Pick
- Marti Technologies (MRT) PT Raised to $6 at Benchmark on Stronger Growth, Improved Earnings Visibility
Create E-mail Alert Related Categories
Guidance, Hot GuidanceRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
