Irish pharmaceuticals group Warner Chilcott has agreed to buy the prescription-drug unit of Procter & Gamble for $3.1 billion, the two said on August 24.
Warner Chilcott will acquire P&G's portfolio of pharmaceutical products plus 2,300 employees working for the division.
"The acquisition of the P&G pharmaceutical brands and employee talent is a transformational, strategic move for us," said Roger Boissonneault, CEO 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."
Warner Chilcott focuses on women's healthcare and dermatology products for the U.S. pharmaceutical market.
Copyright Agence France-Presse, 2009