Watson Pharmaceuticals, Inc., a leading specialty pharmaceutical company, announced that, under a supply agreement with GlaxoSmithKline (GSK), Watson has initiated shipments of bupropion hydrochloride sustained-release tablets, in the 150mg 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 January 2004, Wellbutrin SR 150mg had sales of approximately $1.2 billion, according to IMS Health data.

Under a previously announced settlement with GSK, Watson received rights in the United States (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 launched bupropion hydrochloride sustained-release tablets in the 100mg strength in January 2004. 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.