Shares of Watson Pharmaceuticals
The drug maker enjoyed strong growth in sales across the board. Branded drugs sales grew 14% to $184.6 million, with contributions from a pair of acquired products and Oxytrol, a bladder treatment approved in May 2003. Meanwhile, generic-drug sales gained 13% to $154.2 million.
And things only look better going forward.
In early September, Watson received FDA approval for generic versions of Pfizer's
As a result of the strong Q3, Watson raised the low end of its full-year guidance. The company now expects to earn between $1.82 and $1.85 per share. But that also includes a $0.06 per share inventory reserve on generic versions of a pair of GlaxoSmithKline
Jeff Hwang can be reached at JHwang@fool.com.