- Complete info on biotech webcasts and catalysts and links to my notes can be found on Upcoming Events page
- Watson Pharma $WPI has licensed Anturol gel for Overactive Bladder from Antares Pharma - with a PDUFA date of 12/8/2011
- WPI is partnered for a generic version of Lovenox with Amphastar that has been approved but is not yet on the market due to patent infringement case against Momenta Pharma $MNTA and Novartis $NVS - note that this program was not discussed at all - WPI has shown little desire to ever talk about this product
- Keep reading for my notes-
- 2011 expect ~ $445m branded sales, have 450x sales force focused on urology, womens health
- have FSH biosimilar in development thru eden biodesign unit - will start a phase 1 trial in 2012
- WPI has its own CRO, and ANDA subsidiary is a wholesaler/distributer (reported financials for this unit don't count sales of Watson products)
- generics are seeing better pricing in US, not so in other parts of world
- we are prepping to launch (authorized) generic lipitor 11/30/2011
- 3q2011 reported $110m in branded sales, +11% y/y
- Anturol described as "next genreation Gelnique" product for OAB
- androderm is next generation new/improved patch, has been a bit of a sleeper in our pipeline
- We added 40 new reps in the quarter for rapaflo (BPH drug)
- ANDA unit - building new facility in Memphis near fedex, can launch a drug at midnight and have it in stores the next morning
- We are forecasting about ~50 cents per share impact of Lipitor 4q - based on launching w/ one competitor and the brand maintaining 40% market share
- brand - plan to license in late stage products for womens health, urology, and now oncology. Goal is to grow to $1b annual sales (more than double) in 5 years
- no giuidance yet, expect strong profit growth from 2011 to 2012 and 2012 to 2013
- lipitor guidance -what changes if teva launches lipitor as suggested? unlikely that teva enters as 3rd competitor, we think more likely to transfer ANDA from ranbaxy. we'll be ready to launch and cover the whole market if that's what it takes. no particular magic to 11/30 date for ranbaxy, they can wait for sufficient quanitites.
- Pfizer has taken steps to keep brand position in formulary- are you surprised and did the cause change in financial forecast? No it didn't surprise. The surprise was the extent they were willing to go to institute NDC blocks. We expect 5% of market will remain brand (segment of people who only want branded and will pay whatever it takes, inelastic demand). Then there is the chronic care medicine segment - usually via mail order - PFE went to them and provided them with unmatchable arrangements and convinced them not to dispense genric (20-28% of market). They also went to drug plans - and paid to block generic substitution - you can't get generic even if you wanted it
- Will the company's proportion of revenues between brand/generic stay the same or do you seek to change that? We no particular percentages in mind, but we want all 3 segments to grow. prochieve and ishmia can push branded segment over $1b mark [so I guess new product acquisitions aren't absolutely required to reach that in their mind].
- balance sheet gives flexibility to do a lot of different things. in-licensing for branded division to feed pipeline. would certainly spend some captial for right m&a opportunity. [As I have said in the past, I consider WPI a potentially attractive fit for an acquisition of the rights to LibiGel from BPAX and AIS]
- generic- we've looked at a lot of transactions, haven't pulled trigger yet (for geographic diversity and growth)
9/2011 webcast
RSS Feed
