Warner Chilcott Reports Operating Results for the Quarter Ended June 30, 2009 and Updates 2009 Full Yea...(to the prior year quarter due to a decre...),Health

Date:8/7/2009

to the prior year quarter due to a decrease in filled prescriptions of 12.0% and a contraction of pipeline inventories relative to the prior year quarter, which were offset, in part, by higher average selling prices compared to the prior year quarter.

Cost of Sales (excluding amortization of intangible assets)

Cost of sales decreased $4.1 million, or 7.9%, in the quarter ended June 30, 2009, compared with the prior year quarter. Our gross profit margin as a percentage of total revenue increased to 81.3% in the quarter ended June 30, 2009 as compared to 78.2% in the prior year quarter, primarily due to a favorable mix of products sold as compared to the prior year quarter, offset in part, by increases in manufacturing costs.

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

SG&A expenses for the quarter ended June 30, 2009 were $53.0 million, an increase of $5.9 million, or 12.6%, from $47.1 million in the prior year quarter. Advertising and Promotion ("A&P") expenses for the quarter ended June 30, 2009 increased $0.2 million, or 1.7%, compared with the prior year quarter, due primarily to increased sampling activities. Selling and distribution expenses for the quarter ended June 30, 2009 decreased $2.7 million, or 11.7%, compared to the prior year quarter primarily due to a reduction in the size of our field sales forces, offset, in part by, promotion expenses related to FEMRING. General, Administrative and Other ("G&A") expenses increased $8.4 million, or 61.1%, in the quarter ended June 30, 2009, as compared with the prior year quarter. The increase is due in large part to increases in professional and legal fees primarily in connection with our proposed redomicile to Ireland and, to a lesser extent, to increases in compensation expenses, including non-cash stock-based compensation, and other costs.

Research and Development ("R&D")

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SOURCE Warner Chilcott Limited Copyright©2009 PR Newswire. All rights reserved

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