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Warner Chilcott Reports Operating Results for the Quarter Ended September 30, 2007
Date:11/9/2007

in the quarter ended September 30, 2007 compared with the prior year quarter was due, in part, to our efforts to grow TACLONEX.

Sales of our hormone therapy products increased $5.8 million, or 15.9%, in the quarter ended September 30, 2007 compared with the prior year quarter. The launch of the low-dose version of FEMHRT in 2006 slowed the decline of filled prescriptions in our hormone therapy portfolio. FEMHRT filled prescriptions were down 9.1% in the quarter ended September 30, 2007, compared with the prior year quarter, the impact of which was more than offset by higher selling prices. Filled prescriptions for ESTRACE CREAM were down 2.1% in the quarter ended September 30, 2007 compared with the prior year quarter, which was more than offset by higher selling prices.

Cost of Sales (excluding amortization of intangible assets)

Cost of sales increased $6.3 million, or 16.1%, in the quarter ended September 30, 2007 compared with the prior year quarter primarily due to the 14.9% increase in product net sales. Our gross profit margin on product net sales decreased to 79.7% in the current year quarter from 79.9% in the prior year quarter mainly due to a change in the mix of products sold. Our cost of sales for DOVONEX and TACLONEX (which include royalties based on our net sales, as defined in the relevant supply agreements), expressed as a percentage of product net sales, are significantly higher than the costs for our other products. In the quarter ended September 30, 2007, DOVONEX and TACLONEX together accounted for 29.1% of our products sold compared with 28.5% in the prior year quarter.

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

SG&A expenses for the quarter ended September 30, 2007 were $60.8 million, a decrease of $38.9 million, or 39.0%, from $99.7 million in the prior year quarter. Advertising and promotion expenses for the quarter ended September 30, 2007 decreased $5.6 million, or 32.2%, compared with the prior year q
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SOURCE Warner Chilcott Limited
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