Drug maker Warner Chilcott announced today that it has purchased Procter & Gamble’s prescription drug branch for $3.1 billion, according to the Wall Street Journal. The deal, which will require the participation of six banks, including JPMorgan Chase and Bank of America, consists of $4 billion in financing, with the post-buyout amount going towards Warner Chilcott debt. “The acquisition of the P&G pharmaceutical brands and employee talent is a transformational, strategic move for us,” said Chilcott President and CEO Roger Boissonneault. “The acquisition transforms Warner Chilcott into a global pharmaceutical company, expands our presence in women’s health care, establishes us in the urology market in advance of the anticipated launch of our erectile dysfunction treatments, and adds gastroenterology therapies to our product portfolio.”
Warner Chilcott Acquires P&G Arm
Procter & Gamble has sold its prescription drug branch to drug maker Warner Chilcott in a $4B deal.
August 24, 2009