Watson reports earnings totals for Q3
CORONA, Calif. Watson Pharmaceuticals’ net revenue increased by $46 million in the third quarter of this year, the Corona, Calif.-based drug maker said Wednesday, saying it was an 8 percent increase over the third quarter last year.
Net income for the quarter was $71.1 million, or 62 cents per diluted share.
“This has been a positive quarter for Watson, and one that continues to demonstrate the strength and financial health of the company,” Watson president and chief executive officer Paul Bisaro said in a statement. “Importantly, our performance strength was spread across all of our divisions.”
Walgreens announces promotions of several execs
DEERFIELD, Ill. Seven Walgreens executives received promotions Wednesday.
Carlo Baldan, a category manager for the sleep, pain and incontinence categories, was promoted to divisional merchandising manager for personal care in the retail pharmacy chain’s beauty and fashion division.
Robert Tompkins, the divisional merchandising manager for OTC drugs, was promoted to general merchandising manager of the health and wellness purchasing group, succeeding Chong Bang, who is now vice president of customer-centric retailing. Bob Cinq-Mars will replace Tompkins as divisional merchandise manager for OTC categories including medications for pain, sleep, incontinence, nutrition, diet and smoking cessation.
Robert Bobber, the divisional merchandise manager for consumables, will be in charge of OTC categories that Cinq-Mars previously managed. Robin Randolph, divisional merchandise manager for electronics, will take over for Bobber while maintaining her current position.
Scott Minger, associate category manager for vitamins, has been promoted to category manager for vitamins.
Lannett Co. announces patent approval for generic pain drugs
PHILADELPHIA Generic drug maker Lannett Company announced earlier this month that the United States Patent and Trademark Office granted a patent to subsidiary Cody Laboratories for a method for preparing hydromorphone and hydrocodone.
“Our patented method for preparing hydromorphone and hydrocodone will greatly enhance our ability to manufacture these products quickly and efficiently,” Lannett president and chief executive Arthur Bedrosian said. “Importantly, with minimal incremental investment, the faster manufacturing time appreciably expands our manufacturing capacity, allowing us to maximize our production assets.”
Hydromorphone and hydrocodone are opiate-derived drugs used for treating pain.