Chao, PhD, chairman and chief executive officer of Watson Pharmaceuticals, said, " Rhone-Poulenc Rorer's intent, through its successor, Aventis, to sell Cardizem CD, a product which competes with our Dilacor XR
product and its generic equivalent, violates Rhone-Poulenc Rorer's agreements with Watson.
Furthermore, the Company announced that it was writing off almost all of its investment in Dilacor XR
and that the Company was writing off over $20 million in additional impaired inventory.
The company intends to introduce its cost-effective versions into the marketplace when it is practicable, as it did in June 1999 and October 1997, when Andrx began selling bioequivalent versions of Cardizem CD and Dilacor XR
Finally, those purporting to look for "conspiracies" ignore the fact that Andrx was the first company to receive FDA approval for a bioequivalent version of Dilacor XR
, which we immediately made available to the consumer.
Currently we have filed 11 ANDAs with the FDA, of which two are already on the market; Dilacor XR
and Cardizem CD generics, which we've trademarked and sell under the names Diltia XT and Cartia XT.
And last fall Andrx launched Diltia XT, a generic version of Dilacor XR
, a blood pressure drug from Rhone-Poulenc Rorer Pharmaceuticals Inc.
These include the FDA's investigation into the company's Corona, CA manufacturing plant, the recall and launch delay of the company's Nicotine Gum product due to legal issues regarding product packaging as well as potential supply issues related to Dilacor XR