Watson Continues Improvement Plan at its Corona, California Facility
CORONA, Calif., April 15 /PRNewswire/ -- Watson Pharmaceuticals, Inc. (NYSE: WPI) reported today that it is continuing the implementation of its improvement plan at its Corona, California facility. The improvement plan addresses observations made by the Food and Drug Administration (FDA) in a January 1999 Warning Letter and a subsequent inspection. The improvement plan specifically responds to items noted by FDA concerning cGMP compliance in areas such as documentation, training and laboratory controls.
Watson prepared the plan based on discussions with FDA, and in consultation with the Company's outside consultants and counsel, and believes the plan fully addresses any FDA concerns. The Company has already adopted improvements to its procedures and anticipates that additional plan improvements will be substantially completed within the next few months.
Product production at Watson's Corona facility has not been interrupted and, Watson expects that production will continue in the normal course, while it implements these improvements. The Company does not expect that expenditures for these improvements will be material.
This press release may contain certain statements of a forward-looking nature relating to future events or future business performance. Any such statements that refer to Watson's estimated or anticipated future results, product performance or other non-historical facts are forward-looking and reflect Watson's current perspective of existing trends and information. These statements involve risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, successful compliance with extensive, costly, complex and evolving governmental regulations and restrictions, the unpredictability related to the timeliness or response of governmental agencies, and other risks and uncertainties detailed in Watson's Annual Report on Form 10-K for the year ended December 31, 1998 (including the Report's discussions of these FDA matters) and Watson's other Securities and Exchange Commission filings.
Watson Pharmaceuticals, Inc., headquartered in Corona, CA, is engaged in the development, manufacture and sale of proprietary and off-patent pharmaceutical products. Watson pursues a strategy of generating revenue through established proprietary and off-patent businesses, capitalizing on its proven ability to support the development of these drugs in the therapeutic areas of primary care, women's health, dermatology and neurology/psychiatry.
This and past press releases of Watson Pharmaceuticals, Inc. are available at Watson's web site at watsonpharm.com. In addition, press releases are available through PR Newswire's Company On-Call fax service at 800-758-5804, extension 112856, and at www.prnewswire.com.
SOURCE Watson Pharmaceuticals
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