The Drug Manufacturers - Other Industry's Warner Chilcott (WCRX) was InvestorGuide.com's Stock of the Day on 8/24/2009.
Warner Chilcott Buys P&G Drug Unit for $3.1 Billion
Warner Chilcott announced today that it will buy Proctor & Gamble Company's (PG: Charts, News, Offers) prescription drug business for $3.1 billion. The deal will give Warner Chilcott the rights to such P&G medication offerings as Asacol for ulcerative colitits; Actonel, for osteoporosis; and Enablex, for overactive bladder. In addition, the women's health care product manufacturer will acquire P&G's production plants in Puerto Rico and Germany. Assuming all necessary regulatory clearances, both companies expect the deal to be completed by the end of 2009. What does Warner Chilcott see in Proctor & Gamble's branded pharmaceuticals unit that it is willing to pay such a hefty price tag for it?Read more

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