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* Watson Pharmaceuticals Inc., the generic-drug maker that just bought Andrx Corp. for $1.9 billion, said third-quarter profit dropped 12%, hurt by lower pricing for copies of brand-name drugs. Net income fell to $34.4 million, or 31 cents a share, from $39.1 million, or 35 cents, a year earlier, Corona- based Watson said. Revenue rose 7.4% to $440.5 million.

* Managed-care company Molina Healthcare Inc. said its third-quarter profit soared to $12.3 million, or 44 cents a share, from $6.8 million, or 24 cents, a year earlier. Analysts polled by Thomson Financial had expected 43 cents a share. Revenue rose 21% to $517.5 million at the Long Beach company.

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