NEW YORK Watson Pharmaceuticals’ share price jumped more than 7 percent on Tuesday’s report that the Food and Drug Administration had inspected a Davie, Fla., manufacturing plant that had been under Official Action Indicated status since 2005.
The completed inspection at the plant, which was acquired—along with its regulatory problems—from Andrx Corp. in 2006, has potentially cleared the way for approvals of the backlog of generic drugs produced there, according to Reuters. Watson spokeswoman Patty Eisenhaur said that among the medications produced at the plant, which has been in limited operation since its acquisition, are certain dosages of Prilosec, Toprol XL, Cardizem LA, Adderall XR and Concerta.
Watson reported that it is now working with the FDA to secure approvals for those drugs. The share price of Watson’s stock was up nearly $2 from its Tuesday morning price, at $31.03 at close Wednesday.