Watson Posts Quarterly Loss of $15.6 Million
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From Bloomberg News
Watson Pharmaceuticals Inc., which is awaiting antitrust approval of its $1.9-billion purchase of Andrx Corp., reported a second-quarter loss of $15.6 million as the company wrote down the value of two drugs.
The loss equals 15 cents a share, contrasted with net income of $40.4 million, or 35 cents, a year earlier, Corona-based Watson said. Revenue rose 23% to $510.4 million.
The company wrote down the value of rights to Actigall, a gall bladder medication, and for the Alora estrogen drug.
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