Warner Chilcott (WCRX) Strikes Deal for Acquisition of P&G’s (PG) Global Pharmaceutical Business

Proctor & Gamble Company (NYSE: PG) and Warner Chilcott (NASDAQ : WCRX) announced an agreement for the sale of P&G's global pharmaceuticals business to Warner Chilcott for an up-front cash payment of $3.1B. Per the agreement, Warner Chilcott will acquire P&G's portfolio of branded pharmaceutical products. This includes 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. Also, P&G's prescription drug product pipeline and manufacturing facilities in Puerto Rico and Germany would be acquired. In addition, the majority of the 2,300 employees working on P&G's pharmaceuticals business are expected to transfer to Warner Chilcott.