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Warner Chilcott Reports Operating Results for the Quarter and Year ended December 31, 2007
Date:2/29/2008

the prior year quarter.

Cost of Sales (excluding amortization of intangible assets)

Cost of sales increased $0.1 million, or 0.1%, in the quarter ended December 31, 2007, compared with the prior year quarter. Our gross profit margin, as a percentage of total revenue, increased to 80.8% in the current year quarter from 78.9% in the prior year quarter. Our gross profit margins, as a percentage of total revenue, fluctuate due to a number of factors, primarily the mix of products sold.

Selling, General and Administrative ("SG&A") Expenses

SG&A expenses for the quarter ended December 31, 2007 were $57.0 million, an increase of $2.1 million, or 3.7%, from $54.9 million in the prior year quarter. Advertising and promotion expenses for the quarter ended December 31, 2007 decreased $1.5 million, or 8.8%, compared with the prior year quarter. The decrease was primarily due to product launch expenses incurred in the quarter ended December 31, 2006 related to LOESTRIN 24 FE and TACLONEX, offset partially by an increase in direct-to-consumer spending for LOESTRIN 24 FE in the quarter ended December 31, 2007. Selling and distribution expenses for the quarter ended December 31, 2007 increased $2.7 million, or 13.2%, over the prior year quarter primarily due to the expansion of our field sales forces in the first half of 2007 to support the initiation of promotional activities for FEMCON FE. General, administrative and other ("G&A") expenses in the quarter ended December 31, 2007 increased $0.9 million, or 5.0%, over the prior year quarter. The increase in G&A expenses was primarily due to increases in compensation expense related to annual salary increases.

Research and Development ("R&D")

Our investment in R&D for the quarter ended December 31, 2007 was $11.7 million, an increase of $4.3 million, or 59.5%, compared with the prior year quarter. In November 2007, we entered into an agreement with NexMed, Inc. ("NexMed"). Under the terms of
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SOURCE Warner Chilcott Limited
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