Warner Chilcott has offered $3.1 billion in cash to acquire Procter & Gamble’s global pharmaceuticals business. WC will acquire P&G's portfolio of branded pharmaceutical products, including Asacol HD for ulcerative colitis, Actonel for osteoporosis, and the co-promotion rights to Enablex for overactive bladder, as well as the company's product pipeline and manufacturing facilities in PR and Germany. Also, most of the 2,300 P&G employees are expected to transfer to Warner Chilcott. The transaction is expected to close by the end of the year.
"The acquisition of the P&G pharmaceutical brands and employee talent is a transformational, strategic move for us," said Roger Boissonneault, president and chief executive officer of Warner Chilcott. "The acquisition transforms Warner Chilcott into a global pharmaceutical company, expands our presence in women's healthcare, establishes us in the urology market in advance of the anticipated launch of our erectile dysfunction treatments, and adds gastroenterology therapies to our product portfolio."
The acquisition expands Warner Chilcott’s presence in existing specialty pharmaceutical markets and provides access to new physician offices in 14 countries. Also, P&G's pharmaceutical development capabilities and clinical pipeline, is expected to broaden Warner Chilcott's product portfolio.
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