Warner Chilcott completes acquisition of P&G's pharmaceutical arm

ARDEE, Ireland Warner Chilcott has completed its acquisition of a global brand's pharmaceutical business.

Procter & Gamble's branded prescription pharmaceutical business complements Warner Chilcott's existing presence in women's health care and adds new therapeutic and geographic markets. At closing, approximately 1,900 employees of P&G's pharmaceuticals business joined Warner Chilcott and the company added manufacturing facilities in Germany and Puerto Rico.

"This is a transformational acquisition that extends our presence to include many of the major pharmaceutical markets around the World and significantly enhances the scale and diversity of our business," said Roger Boissonneault, president and CEO Warner Chilcott. "Importantly, the increased scale afforded by this deal provides us with the ability to pursue a broader range of R&D projects to fuel our long-term growth."

To finance the acquisition, the company used a combination of cash on hand and borrowings under new senior secured credit facilities.