MORRISTOWN, N.J., May 7 Watson Pharmaceuticals, Inc. (NYSE: WPI) today announced that its subsidiary, Watson Laboratories, Inc. has reached a settlement with Teva Women's Health, Inc. on outstanding patent litigation related to Teva's Seasonale® (levonorgestrel and ethinyl estradiol tablets USP, 0.15 mg/0.03 mg) product.
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On December 13, 2007, Teva filed a patent infringement lawsuit against Watson in the United States District Court for the District of New Jersey involving Watson's Quasense® product, which is a generic equivalent of Teva's Seasonale®. Under terms of the settlement agreement, Teva has granted Watson a fully paid-up license to the U.S. patents covering Seasonale® and Watson will continue marketing its generic equivalent product Quasense® (levonorgestrel and ethinyl estradiol tablets USP, 0.15 mg/0.03 mg). Watson further admits that the licensed patents are valid and enforceable.
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About Watson Pharmaceuticals, Inc.
Watson Pharmaceuticals, Inc. is a leading global specialty 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 affecting Watson's business. These factors include, among others, 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 annual report for the year ended December 31,2009. Except as expressly required by law, Watson disclaims any intent or obligation to update these forward-looking statements.
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SOURCE Watson Pharmaceuticals, Inc.
