Watson signs deal with Novartis unit |
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Mon, 21 May 2007 15:31
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CORONA, Calif. (AP) - Watson Pharmaceuticals Inc. said Monday it gave up its 180-day period of market exclusivity for generic Toprol as part of an agreement with a Novartis AG unit.Watson said it was awarded market exclusivity for the generic version of Toprol, a heart drug from Astrazeneca plc, because it was the first to file for it.The agreement with Novartis' Sandoz unit means the companies will share profits on the sale of the 50-milligram generic drug.Shares of Watson declined 16 cents to $31.50 in Monday morning trading. In the past 52 weeks, the stock has traded between $21.35 to $32.52.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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