For Immediate Release
Chicago, IL – January 15, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Watson Pharmaceuticals, Inc. (WPI), Teva (TEVA), Mylan (MYL), Dr. Reddy’s (RDY) and Par Pharma (PRX).
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Here are highlights from Thursday’s Analyst Blog:
Watson Set to Top Expectations
Watson Pharmaceuticals, Inc. (WPI) recently announced that it expects 2009 earnings to meet or exceed guidance provided by the company in Nov. 2009. The company had earlier guided towards earnings in the range of $2.50 – $2.58 per share.
Watson also announced that it expects revenues to increase 9% year over year to $2.7 billion in 2009. The company’s shares reacted positively to the news, with the stock gaining roughly 3.5% since the announcement.
Watson attributed the robust performance to strong contributions from its new generic and brand products, and significant growth in distribution revenues in the fourth quarter. We note that the preliminary results do not include any impact from Watson’s recently completed acquisition of the Arrow Group.
Watson intends to provide its outlook for 2010 on Jan. 21, 2010. Final results for the fourth quarter and full-year 2009 will be presented on February 23, 2010.
We believe Watson’s strong position in the generic market will help drive revenues going forward. Moreover, the company’s recent acquisition of Arrow will help Watson expand its footprint in ex-U.S. territories, and will also boost its product offerings and pipeline. Although Watson operates in the highly competitive pharmaceutical industry, where it faces competition from generic players like Teva (TEVA), Mylan (MYL), Dr. Reddy’s (RDY), Sandoz and Par Pharma (PRX), among others, we believe that the company’s cost-savings initiative and new product launches, both brand and generic, will help drive growth. We currently have a Neutral recommendation on the stock.
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