|Watson Announces Commencement of Secondary Offering by Selling Stockholder|
MORRISTOWN, N.J., Nov. 10, 2010 /PRNewswire via COMTEX/ --
Watson Pharmaceuticals, Inc. (NYSE: WPI) today announced the underwritten public offering of 10,537,755 shares of its common stock held by Quiver, Inc. pursuant to the Company's shelf registration statement filed with the Securities and Exchange Commission (the "Offering") on August 17, 2009. The selling stockholder acquired its shares of Watson common stock in connection with Watson's acquisition of the Arrow Group. Watson will not receive any proceeds related to the Offering, and its total number of shares of common stock outstanding will not change as a result of the Offering.
J.P. Morgan Securities LLC is acting as sole book-running manager and underwriter for the Offering.
A prospectus supplement relating to the Offering has been filed with the Securities and Exchange Commission. Copies of the prospectus supplement and the accompanying base prospectus relating to the Offering may be obtained, when available, by mail from: J.P. Morgan Securities LLC, Attn: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York, 11717, or by phone at (866) 803-9204. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Watson Pharmaceuticals, Inc.
Watson Pharmaceuticals, Inc. is a leading global specialty pharmaceutical company. The Company is engaged in the development, manufacturing, marketing and distribution of generic pharmaceuticals and specialized branded pharmaceutical products focused on Urology and Women's Health. Watson has operations in many of the world's established and growing international markets.
Statements contained in this press release that refer to non-historical facts are forward-looking statements that reflect Watson's current perspective of existing information as of the date of this release. It is important to note that Watson's goals and expectations are not predictions of actual performance. Actual results may differ materially from Watson's current expectations depending upon a number of factors, risks and uncertainties affecting Watson's business. These factors include, among others, the impact of competitive products and pricing; the timing and success of product launches; difficulties or delays in manufacturing; the availability and pricing of third party sourced products and materials; successful compliance with FDA and other governmental regulations applicable to Watson and its third party manufacturers' facilities, products and/or businesses; changes in the laws and regulations, including Medicare and Medicaid, affecting among other things, pricing and reimbursement of pharmaceutical products; and such other risks and uncertainties detailed in Watson's periodic public filings with the Securities and Exchange Commission, including but not limited to Watson's annual report on Form 10-K for the year ended December 31,2009 and Watson's quarterly report on Form 10-Q for the period ended September 30, 2010. Except as expressly required by law, Watson disclaims any intent or obligation to update these forward-looking statements.
SOURCE Watson Pharmaceuticals, Inc.