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Watson Foods Co., Inc. history
Watson Foods Co., Inc. company history timeline
JC Watson Company received its name from its founder back in 1912, when he established a produce company in southwestern Idaho.
James J. Watson began Watson Inc. under the name Watson Flour Company in July 1939, in space rented at 30-30 Northern Blvd., Long Island City, New York.
Founded in 1939, Watson is one of the highest quality suppliers of products and services geared towards enhancing human health and nutrition around the world.
The rationed amount of these two ingredients was established as a percentage of the purchased amount in the year 1939.
John J. Watson joined his father and brother in the business in 1951.
The Charles Pfizer Company saw the latter concept in 1958 and asked Watson Flour to make these products for them.
Chao had left Taiwan in 1968 to study pharmacy sciences in the United States.
She got her wish in 1983, when Chao left G.D. Searle and launched the venture that would become Watson Pharmaceuticals.
Chao began developing a generic substitute for the original patented product in 1986, and it eventually won the FDA's blessing.
In 1986, the Watson Foods Company closed down its Woodside plant and relocated to a seven-acre site in West Haven, Connecticut.
Sales rose to about $13.25 million in 1988 as net income inched up to $259,000.
Despite heavy investments in ongoing research and development, Watson managed to boost profits to $1.26 million in 1989, from sales of nearly $21 million.
In 1989, in fact, the FDA announced that several of its employees had accepted bribes from various generic drug makers.
Pursuing its nutritional plan further in 1992, Watson purchased Dufar’s nutritional premix division for the food industry and for US AID emergency relief programs.
By late 1993, in fact, Watson had the exclusive right to produce 17 generic products, and was also making about 40 drugs for other companies.
Watson's revenues rose to $87 million in 1994 as it introduced new drugs to market.
By 1995 Circa, after changing its name from Bolar, was staging a recovery.
After the merger was complete, Watson's product line had grown to include more than 80 different drugs (variations of 30 major pharmaceutical products). Sales for 1995 increased to $153 million, reflecting the merger as well as revenue growth related to new and established products.
By 1996, Watson was still the only pharmaceutical company selling a generic version of the original drug.
In 1998, it acquired the rights to three additional products.
2000: The firm purchases Schein Pharmaceutical Inc.
In 2002, the company set plans in motion to launch Oxytrol, the first Watson product developed internally from start to finish.
Sales reached $1.2 billion in 2002 and were expected to continue their upward climb.
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