Watson Pharmaceuticals, Inc., a leading specialty pharmaceutical company, announced that, under a supply agreement with GlaxoSmithKline (GSK), the company has initiated shipments of bupropion hydrochloride sustained-release tablets, in the 100mg strength. The product is the generic version of GlaxoSmithKline's Wellbutrin SR which is indicated for the treatment of depression. For the 12-months ending November 2003, Wellbutrin SR 100mg had sales of approximately $300 million, according to IMS data.

Under a previously announced settlement with GSK, Watson received rights in the US market to distribute 100mg and 150mg bupropion hydrochloride sustained-release tablets, manufactured by a GSK subsidiary, on a per strength basis, once a third party launches a fully substitutable generic equivalent of the relevant strength of these products in the US market. Watson currently has rights to ship only the 100mg strength of bupropion hydrochloride sustained-release tablets. GSK will receive a share of the profits from Watson's sales of generic bupropion hydrochloride sustained release tablets in the US market. Terms of the agreement were not disclosed.