Watson Pharma launches generic of J&J's Concerta
Watson Pharmaceuticals Inc. said Monday it has started selling an authorized generic version of Johnson & Johnson's attention deficit hyperactivity disorder drug Concerta.
Watson said sales of Concerta, or methylphenidate, totaled $1.5 billion in the year that ended Feb. 28.
Concerta is to treat ADHD in children ages 6 to 17, and adults 18 to 65. It's an extended-release drug with the same active ingredient as Ritalin.
Under an agreement the companies announced in November, Johnson & Johnson's Ortho-McNeil-Janssen Pharmaceutical unit is making and supplying the drug, and it will receive a share of the revenue from sales. Watson will market and distribute the generic.
The agreement lasts until the end of 2014. Watson can launch its own generic version when the deal ends.
Watson is based in Parsippany, N.J., and Johnson & Johnson in New Brunswick, N.J. Shares of Watson rose $1.07 to $63.09 in afternoon trading. Johnson & Johnson's stock rose 42 cents to $66.14.
May 04, 2011