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Watson Gains After Generic Pain Patch Gets U.S. Approval

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Aug. 24 (Bloomberg) -- Watson Pharmaceuticals Inc. rose after the drugmaker’s generic lidocaine patch to treat pain associated with shingles received U.S. regulatory approval.

Watson increased 6 percent to $83.32 at 4 p.m. New York time, its biggest gain in four months.

The patch is a copy of Endo Health Solutions Inc.’s numbing medication Lidoderm, Watson said in a statement yesterday. Watson plans to begin selling the product in September 2013. The Parsippany, New Jersey-based company said it’s eligible to sell the drug for six months without competition.

Watson and Chadds Ford, Pennsylvania-based Endo settled patent litigation related to lidocaine on May 29. Lidoderm is Endo’s best-selling drug, with the company reporting $825 million in sales last year.

Shingles is a painful, blistering skin rash caused by the virus that causes chicken pox, according to the National Institutes of Health.

To contact the reporter on this story: Anna Edney in Washington at aedney@bloomberg.net

To contact the editor responsible for this story: Reg Gale at rgale5@bloomberg.net

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