Biotech Values

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WPI announces approval of Amphastar's Lovenox generic

Watson Pharmaceuticals (WPI) announced that Amphastar Pharmaceuticals has received FDA approval of its Abbreviated New Drug Application for Enoxaparin Sodium Injection in the 100mg/mL and 150mg/mL strengths. Enoxaparin Sodium Injection is the generic equivalent to Sanofi-aventis' (SNY) Lovenox. Pursuant to the terms of the parties' exclusive distribution Agreement, Amphastar will supply Enoxaparin Sodium Injection to Watson, which will market, sell and distribute the product to the U.S. retail pharmacy channel. Amphastar will receive between 50%-55% of Watson's gross profits on product sales, depending on the number of competitors in the market