Actavis, formerly Watson, sees 2013 profit growth

Jan 25 (Reuters) - Actavis Inc, the generic drugmaker previously known as Watson Pharmaceuticals, said on Friday that it expected earnings to rise at least 30 percent in 2013 as it expands globally, but its outlook still came in short of analysts' expectations.

Actavis said it expected earnings to rise to a range of $7.70 to $8.10 per share in 2013. Analysts on average are expecting $8.20 per share, according to Thomson Reuters I/B/E/S.

The third-largest global generic drugmaker changed its name this week from Watson after buying Actavis as part of its strategy to expand in international markets and offer more specialty drugs.

The company, which is holding a meeting with investors on Friday, said it expected 2012 earnings per share to be at the high end of its forecast range of $5.85 to $5.95.

That is in line with analysts' expectations for earnings of $5.93 per share, according to Thomson Reuters I/B/E/S, and represents growth of 25 percent from 2011.

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Watson Pharma changes name to Actavis Inc.

PARSIPPANY, N.J. -- Watson Pharmaceuticals Inc. said Thursday it has changed its name to Actavis Inc. following its purchase of the Swiss drugmaker in October.

As part of the change, the company's New York Stock Exchange ticker symbol switched to "ACT" from "WPI."

Watson agreed to buy Actavis Group in April for about $5.6 billion. It completed the deal on Oct. 31 and announced the planned name change on that date. The new Actavis is the third-largest generic drug company in the world and has about $8 billion in annual revenue.

Actavis shares rose 86 cents to $86.59 in morning trading. The stock has risen 46.5 percent since rumors about Watson buying Actavis began to circulate in March. The shares have been trading at all-time highs for months, peaking at $91.47 in late December.

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Watson buys women's health company Uteron Pharma

PARSIPPANY, N.J. -- Drugmaker Watson Pharmaceuticals Inc. said Wednesday that it has completed a deal to expand its women's health business, buying Belgian drug developer Uteron Pharma SA for $150 million in up-front cash.

Watson, which makes generic, brand-name and biosimilar medicines, said Uteron could receive up to $155 million more in future milestone payments, depending on whether products it is testing are approved for sale.

Uteron, based in Liège, Belgium, is a spinoff of the University of Liège. It has several female healthcare products in development.

Those include a contraceptive device, a next-generation birth control pill containing the natural hormone estrogen and tests to increase the success rate of in-vitro fertilization. That's a technique to help infertile couples by combining an egg and sperm in a laboratory dish and then transferring the resulting embryo into the woman's uterus.

Uteron's first product could be an intrauterine device called Levosert, for long-term contraception and treating heavy menstrual bleeding. The device is awaiting approval in several European Union countries and could go on sale there this year. It's in late-stage testing for the U.S. market, where it could be launched in 2014 if approved.

Watson, based in Parsippany, N.J., has the rights to market Levosert in Western Europe and, in partnership with two other companies, in the U.S. and some Eastern European countries.

Another Uteron product, Diafert, a test kit for determining the quality of a woman's eggs for in-vitro fertilization, could increase the success rate for implanting embryos. That could help couples achieve a pregnancy with fewer cycles of costly in-vitro fertilization.

Watson, which is the world's third-largest maker of generic prescription drugs, said Diafert is expected to receive approval in the European Union in the second half of this year and launch after that. It could be approved in the U.S. in 2014. Watson has exclusive global marketing rights to Diafert.

Uteron has another product in mid-stage patient testing, Estelle birth control pills. They contain a new natural estrogen called estetrol believed to be safer than other oral contraceptives. Estelle could be launched worldwide in 2018.

In addition, Uteron has potential products in early development, including Colvir, a treatment for vaginal infections.

In afternoon trading Watson shares rose 43 cents as $85.69.

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Watson gets FDA application approval

PARSIPPANY, N.J. -- Watson Pharmaceuticals Inc. said Thursday that a subsidiary has received regulatory approval for a generic drug designed for the treatment of heavy menstrual bleeding.

The company said that it intends to begin shipping the product immediately.

Watson said the tranexamic acid tablets are the generic equivalent to Ferring Pharmaceuticals' drug Lysteda. Ferring has filed patent infringement lawsuits against Watson, but the litigation is still pending.

Watson cited IMS Health data showing that Lysteda had U.S. sales of roughly $25 million in the 12 months that ended Nov. 30.

Watson, based in Parsippany, N.J., is the world's third-largest generics prescription drug manufacturer with more than 750 products marketed globally.

Shares gained $1.71, or 2 percent, to $85.92. Its stock is near the high end of its 52-week trading range of $55 to $91.47.

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