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SMALL BUSINESS
Warner Chilcott closes $3.1B buyout of P&G unit
AP ONLINE
posted: 29 DAYS 15 HOURS AGO
NEW YORK (AP) — Warner Chilcott, which makes women's health and dermatology products, said Friday it completed the $3.1 billion buyout of Procter&Gamble's global branded prescription drug unit.
The transaction was announced in August. With the deal, Warner Chilcott gains a portfolio of products worth about $2.3 billion in annual revenue including blockbuster osteoporosis drug Actonel.
Warner Chilcott, based in Ireland, said it used cash on hand and new senior secured credit facilities to finance the buyout.
Shares of Warner Chilcott added 51 cents, or 2.3 percent, to $22.73 in morning trading.
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