Rochester,NY 9/1/2009 10:05:37 PM
Procter & Gamble Co. PG, Hosts U.S. to Sell Pharmaceuticals Business to Warner Chilcott
Procter & Gamble Co.
The Procter & Gamble Company and Warner Chilcott announced an agreement for the sale of P&G's global pharmaceuticals
business to Warner Chilcott for an up-front cash payment of $3.1 billion.
Under the terms of the agreement, Warner Chilcott, a specialty pharmaceuticals company, will acquire P&G's portfolio of branded pharmaceutical products, including Asacol HD (mesalamine) Delayed-Release Tablets for ulcerative colitis, Actonel (risedronate sodium) for osteoporosis, and the co-promotion rights to Enablex (darifenacin) for the treatment of overactive bladder, as well as P&G's prescription drug product pipeline and manufacturing facilities in Puerto Rico and Germany.
In addition, the majority of the 2,300 employees working on P&G's pharmaceuticals business are expected to transfer to Warner Chilcott. Both companies expect the transaction to close by the end of the 2009 calendar year, pending necessary regulatory approvals.
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