Ireland-based specialty pharmaceuticals company Warner Chilcott is acquiring Procter & Gamble's (P&G) prescription drug business for about $3.1 billion.
Warner Chilcott focuses on three core therapeutic areas: women's healthcare, dermatology and urology in the US pharmaceutical market. Iis products include well-known oral contraceptives Loestrin 24 FE, Femcon FE and Ovcon. It also makes multiple treatments for menopause symptoms such as hot flashes and vaginal dryness, including Femhrt, Femring and Estrace.
It also sells Doryx- a skin product used to treat acne and Pyridium-for pain from urinary tract infections, Taclonex ointment for psoriasis and Moisturel skin cleansers and therapeutic creams.
The deal, expected to close by the end of the year, will expand Warner Chilcott's presence in 14 countries mainly in the European Union region while allowing P&G to focus more on its consumer health-care business. Until now, Warner Chilcott has focused primarily on the US market.
"The acquisition of the P&G pharmaceutical brands and employee talent is a transformational, strategic move for us," said Roger Boissonneault, president and chief executive officer of Warner Chilcott.
"The acquisition transforms Warner Chilcott into a global pharmaceutical company, expands our presence in women's healthcare, 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," he added.