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Warner Chilcott Completes Acquisition of U.S. Rights to Enablex® Overactive Bladder Treatment for $400 Million in Cash
Date:10/18/2010

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ARDEE, Ireland, Oct. 18 /PRNewswire-FirstCall/ -- Warner Chilcott plc (Nasdaq: WCRX) today announced that it has completed its acquisition of the U.S. rights to Enablex® from Novartis for $400 million in cash.  Enablex (darifenacin) is a product indicated to treat adults with symptoms of overactive bladder, which had U.S. sales of approximately $190 million for the year ended December 31, 2009.  

Concurrently with the closing of the transaction, Warner Chilcott and Novartis terminated their existing co-promotion agreement, and Warner Chilcott assumed full control of sales and marketing of Enablex for the U.S. market.  Warner Chilcott expects to assume manufacturing control for the U.S. within three years. Novartis retains the rights to Enablex for all countries outside the U.S.  

Warner Chilcott funded its upfront $400 million cash payment to Novartis with a portion of the proceeds from its recent offering of $500 million aggregate principal amount of senior notes.  The Company may be required to make future milestone payments aggregating up to $20 million.  

About Warner Chilcott Warner Chilcott is a leading specialty pharmaceutical company currently focused on the gastroenterology, women's healthcare, dermatology and urology segments of the North American and Western European pharmaceuticals markets.  The Company is fully integrated with internal resources dedicated to the development, manufacturing and promotion of its products.  WCRX-F.

Forward Looking Statements This press release contains forward-looking statements concerning our operations, our anticipated financial performance and financial condition, and our business plans and growth strategy and product development efforts.  These statements constitute forward-looking statements within the meaning of Section
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SOURCE Warner Chilcott plc
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6. Warner Chilcott Agrees to Terminate Existing Co-Promotion Agreement and Acquire U.S. Rights to Enablex® Overactive Bladder Treatment for $400 Million in Cash
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