Warner Chilcott announced that Sanofi-Aventis U.S. LLC has elected not to exercise its right to put its interest in the global marketing and collaboration agreement (the "Marketing Agreement"). As previously disclosed, Warner Chilcott's acquisition of the global branded prescription pharmaceuticals business of The Procter & Gamble Company ("P&G") on October 30, 2009 (the "PGP Acquisition"), constituted a change of control under the Marketing Agreement between a P&G subsidiary acquired by Warner Chilcott and Sanofi relating to the development and sale of risedronate products (including Actonel(R)). Read the full story
Procter & Gamble and Warner Chilcott announced an agreement for the sale of P&G's global pharmaceuticals business to Warner Chilcott for an up-front cash payment of $3.1 billion.
Procter & Gamble Co. is getting closer to a possible sale of its prescription-drug business, and several parties, including specialty drug maker Warner Chilcott Ltd., and private-equity firm Cerberus Capital Management LP, are engaged in later-stage discussions, according to people familiar with the matter.