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Business Briefing / Pharmaceuticals

Warner Chilcott to buy P&G unit

August 25, 2009|Times Staff and Wire Reports

Warner Chilcott, an Irish maker of birth-control pills and acne medicine, said it would buy Procter & Gamble Co.'s prescription-drug unit for $3.1 billion.

Warner Chilcott will get products with $2.3 billion in annual sales, including Actonel for osteoporosis, and co-promotion rights to Enablex for bladder control, the companies said. Warner Chilcott shares rose the most in almost three years after the company said the deal would add to earnings right away.

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