Executive Summary
Watson pharmaceutical is a leading pharmaceutical company globally which is mainly engaged in developing, manufacturing, marketing and distribution of generic products. The company is located and headquartered in Corona, California, United States.
The company’s generic business is focused on the maintaining of the leading position in the US market where the company is currently ranked the third in annual prescriptions dispensation.
The company’s product portfolio is quite wide and ranges from hypertension, antibiotics, pain management, smoking and many other more.
The company’s global supply chain is ensuring that everyone is getting this great service from Watson pharmaceuticals because it is the duty of the company to offer value to the customers and patients for betterment of their lives.
The company has employed more than 7500 employees and they work together day and night to see the company core goals.
History of Watson Pharmaceuticals
Watson pharmaceutical was launched in the early 1980s when there was a great blooming market for the generic drugs. Generic drugs are mainly drugs that are usually off brand drugs but which are chemically the same as their main brand cousins.
Watson pharmaceutical was formed in 1985 and grew very significantly and in the 1990s, the company made key acquisitions and this expanded its base widely in the US market.
This company now operates as the fifth pharmaceutical company in the United States and it grows day in and out. It is much focused in ensuring that the market which is the consumers is reached with their unmet needs and a solution is offered to their medical and health needs.
Subsidiaries of Watson Pharmaceuticals
- Andrx Corporation
In April 2006, Watson pharmaceuticals acquired Andrx Corporation at a cost of $1.9 billion cash. The company was established in 1992 and is based in Davie, Florida United States.
This company mainly develops, manufacture and engages in the distribution and commercialization of the generic versions of controlled release pharmaceuticals and oral contraceptives and also in the release of immediate generic products.
After this acquisition, the company was full acquired by Watson pharmaceuticals and became part of this family.
- Eden Biopharma Group
Watson pharmaceuticals acquired Eden biopharma group in January 2010 at a cost of $15 million in cash. This company was established in the year 2000 and it is located in Liverpool United Kingdom.
Eden biopharma group is a biopharmaceutical development consultancy which is focused in the provision of biopharmaceutical drug development and manufacturing services.
The company’s sole engagement is the product and process development, technical and regulatory support, strategic planning development, management outsourcing, technology transfers and in the coordination of clinical trial supplies
It always serves main pharmaceutical and biotechnology companies which are located in the United Kingdom, Australia, and Asia and in the entire Europe.
- Uteron Pharma
This is company which is committed to enabling research that is driven by the women’s needs. It develops women’s health products.
The company offers Loveset which is a hormonal intra uterine device which in a consistent form releases very small quantities of levonorgestrel in the uterine cavity.
It also provides Diafert which is a non invasive adjunctive in vitro fertilization in the improvement of embryo selection during the assisted reproductive procedures.
The company was established in 2002 and is based in Grace-Hologne, Belgium.
Watson pharmaceuticals acquired Uteron pharma in January 2013 at a cost of $355 million which was $150 million in upfront cash and $155 million in future milestones.
- Schein Pharmaceuticals
Schein pharmaceutical is a pharmaceutical company that was established in 1993. The company develops, manufactures and does the marketing of generic products in the healthcare industry.
The company is located in Melville, New York, United States.
In May 2000, Watson pharmaceuticals acquired the Schein pharmaceutical at a cost of $674 million in cash basis to take it over which became a whole subsidiary of Watson pharmaceuticals.
Popular Products of Watson Pharmaceuticals
- Lipitor
Its generic name is called Atorvastatin.
It is used alongside with the diet to lower bad cholesterol and fats and raise good cholesterol in the blood. It belongs to the group of drugs which are called Statins. It works by reducing the amount of much cholesterol which is produced by the liver.
This lowering of bad cholesterol and increasing good cholesterol reduces much the risk of getting heart diseases and in the prevention of heart attacks and stroke.
Together with eating good diet, there are other lifestyle changes that may help too this drug in working better and achieving the required results such like; losing weight if overweight, stopping to smoke and doing a lot of exercises.
In using this drug Atorvastatin, follow the doctors’ prescriptions seriously and take this medicine directly by mouth with or without food.
Its side effects may include mild memory problems and sort of confusion with people taking this medicine
- Fentanyl
Its generic name is also called Fentinil.
This is the drug which is used as pain medication and under the opioid drugs. Opioid medications are the drugs that treat very severe pains where other medications have totally failed to work.
It is a potent synthetic opioid excellent for controlling serious pain but which has also very huge abuse potential. This drug is also sometimes used as a recreational drug often mixed with heroin or cocaine.
This medication has short term effects which includes euphoria, relaxation and reduced feeling of pain. The side effects include vomiting, nausea, constipation, confusion, some weakness and sweating.
- Propafenone HCL
Its generic name is called Propafenone.
It is normally used to treat very serious and irregular human heartbeats. It is used to restore normal heart rhythm and also to maintain regular and steady heartbeat.
It normally works by blocking some activities of certain electrical signals in the heart which are likely to cause irregular heartbeats. It is highly recommended that you treat irregular heartbeats as if left unattended can cause blood clotting hence leading to the heart attacks or stroke.
This medication is usually taken by mouth and with or without food is okay. Always follow the doctor’s instructions as the dosage usually depends on the medical condition at hand hence it is only the doctor who can know how to prescribe.
The side effects of this drug mostly are dizziness, nausea, constipation, vomiting and anxiety.
Product Recalls and Lawsuits
- 2008 Fentanyl Drug Recall
In August 2008, Watson pharmaceuticals made a recall of Fentanyl patches. This recall was for one lot of Fentanyl transdermal system patches because there was a detection of Fentanyl patches gel leaking.
The exposure to the leaked Fentanyl gel could lead to possible overdose and respiratory depression. The Fentanyl transdermal system patches are mainly used in the management of persistent and moderate to severe chronic pain which require all time round the clock opioid administration.
- 2009 Propafenone Recall
Watson pharmaceuticals made a voluntary recall of propafenone HCL tablets in March 2009. One lot of Propafenone HCL 225mgtablets which is in bottles and is mostly sold in the US is being recalled up to the level of the consumer.
The recalled tablets were manufactured by Watson pharmaceuticals and were being recalled because of oversized tablets. This is because some of them contained some higher ingredients than it is specified and this led to the oversize.
The affected lots were distributed to the consumers between the dates of October 15, 2008 and November 26, 2008. No other lots were affected apart from these ones.
Propafenone is a product which is mainly used in the treatment of irregular heartbeats. It has a narrow therapeutic index and this affects patients who are very sensitive to very small variations and due to this, these tablets could have caused dose variations which in return will result in serious side effects. This is the reason why Watson recalled this up to the consumer level in order to minimize any risk that may be brought about.
Litigation Settlements
- $18 Million Elan’s Naproxen Sodium Litigation
In March 2006, Watson pharmaceuticals reached an agreement with Elan Corporation over patent litigation which was related to Watson’s Naproxen sodium commonly called Naprelan tablets.
Under the terms of this agreement, Watson paid Elan $18 million in full settlement of all disputes that emerged from Watson’s development, manufacture, and distribution of the drug Naprelan.
The case was fully settled from that time and the two companies continued with their business as usual.
- $33 million Mississippi Litigation Settlement.
On January 2018, Watson pharmaceuticals agreed to pay $33 million to Mississippi over the alleged lawsuit that the company inflated prices of its drugs which were paid by the Mississippi federal state for the state Medicaid health insurance program.
It was alleged that the company defrauded the taxpayers of Mississippi by an estimated amount of over $7 million. This inflated prices varied from drug to drug and to some drugs the inflation went up to 1000%. Due to this the court awarded the federal state this amount of settlement. Under this settlement of $33 million, $8 million were compensatory damages to the Medicaid of Mississippi unit, $5 million as civil penalties and $20 million as punitive damages.
Sources:
https://www.crunchbase.com/organization/watson-pharmaceuticals#section-overview
https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=10965584
https://www.webmd.com/drugs/2/drug-841/atorvastatin-oral/details
Tracy Everhart
Tracy Everhart is the Editor for Drug Law Journal. A highly-trained and certified medical professional, Tracy is also an accomplished medical writer. After spending years on the front lines of the medical profession, Tracy now devotes her expertise and skills to researching and reporting on new drugs and devices that enter the market, as well as their side-effects and the real-life stories involved. Prior to joining Drug Law Journal, Tracy wrote for benchmark online healthcare resources focused on families and, in particular, women’s health issues. Tracy holds post-graduate degrees from both the American College of Healthcare Sciences and the Yale School of Nursing. She is also a graduate of both Hampshire College, where she studied microbiology and the University of South Carolina school of nursing.