Watson Pharmaceuticals Inc (WPI.N) expects its 2012 profit to rise between roughly 10 percent to 17 percent, which falls short of Wall Street's average target.
The world's fifth-largest generic drugmaker projected 2012 earnings, excluding items, in a range of $5.25 to $5.55 per share. Analysts on average were looking for $5.76 per share, according to Thomson Reuters I/B/E/S.
The company also reported preliminary 2011 earnings per share of $4.75 to $4.77 per share, a 39 percent rise over 2010.
Watson gave its projections as it held a meeting for analysts in New York. It also said it was buying the Australian and Southeast Asian generic drugs business from India's Strides Arcolab (STAR.NS) for $396 million.
(Reporting By Lewis Krauskopf; Editing by Derek Caney)
too a small long position @ 56 today,wish they paid a divi,lol
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