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Warner Chilcott Acquires P&G's Global Pharmaceuticals Business
Date:8/24/2009

CINCINNATI and ARDEE, Ireland, Aug. 24, 2009 /PRNewswire-FirstCall/ -- The Procter & Gamble Company (NYSE: PG) and Warner Chilcott plc (Nasdaq: WCRX) today 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.

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Under the terms of the agreement, Warner Chilcott, a leading specialty pharmaceuticals company, will acquire P&G's portfolio of branded pharmaceutical products, including Asacol(R) HD (mesalamine) Delayed-Release Tablets for ulcerative colitis, Actonel(R) (risedronate sodium) for osteoporosis, and the co-promotion rights to Enablex(R) (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.

"The acquisition of the P&G pharmaceutical brands and employee talent is a transformational, strategic move for us," said Roger Boissonneault,
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SOURCE Procter & Gamble; Warner Chillcott
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