Warner Chilcott To Buy P&G Drug Biz For $3.1B

Law360, New York (August 24, 2009, 7:02 PM EDT) -- Procter & Gamble Co. has reached a deal to sell its prescription drug operations to Irish pharmaceutical firm Warner Chilcott PLC for $3.1 billion in a largely debt-financed cash sale that is expected to triple Warner’s revenue and give the company a global presence.

Cincinnati-based P&G and Ardee, Ireland-based Warner announced the sale Monday in an 8-K filed with the U.S. Securities and Exchange Commission.

The deal will give Warner access to lucrative P&G products including the osteoporosis drug Actonel, inflammatory bowel treatment Asacol HD and...
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