BUSINESS BRIEFS.(TO THE POINT)

MEDICAL

FDA shuns Watson Pharma patch

The drug maker's Oxytrol patch to treat overactive bladders was going to help Watson shift focus from generics to its own branded drugs. Watson cut its '02 sales outlook, but raised profit views slightly because it won't spend money to launch the product. It sees 33-34 cents in Q1 vs. forecasts of an 18% fall to 33 cents. Watson slid 3.65, or 12%, to 27.09.

Taro off on drug rumor, war fear

Israel's Taro Pharmaceutical fell 4.21, or 13%, to 28.35 amid rumors Schering-Plough will challenge one of Taro's top generic drugs. Taro got FDA approval last year to sell a generic form of Schering's lotrisone, which treats skin disorders. Now investors fear Schering will sell its own generic lotrisone. Middle East tension also hurt Taro.

Medamicus crashes on warning

The maker of implantation-related devices said its business with No. 1 customer Medtronic will decline. Medamicus expects Q1 sales of $4.2 mil-$4.3 mil. That's 32% above a year ago, but would be the first sequential sales decline in seven quarters. ...