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May 2 (Reuters) – Generic drugmaker Actavis Inc,
formerly known as Watson Pharmaceuticals, reported an adjusted
quarterly profit that beat market estimates, helped by new
products, and the company raised its earnings forecast for the
full year.
Actavis posted a net loss of $102.8 million, or 79 cents per
share, for the first quarter, hit by charges related to the
acquisition of Actavis Group and Uteron Pharma. It had net
income of $54.8 million, or 43 cents per share, a year earlier.
Excluding one-time items, the world’s third-largest generic
drugmaker earned $1.99 per share, above the average analyst
estimate of $1.86, according to Thomson Reuters I/B/E/S.
