In Brief: Warner Chilcott
Warner Chilcott: Initial public offering will consist of 3 mil. American Depositary Shares at a price between $16 and $18 per ADS. One ADS represents one ordinary share of the complex generics and specialty branded products company, formerly the generics division of Warner-Lambert; Warner Chilcott was sold to Elan in 1996 and joined with Elan's generics subsidiary Nale. Cowen & Co., Dillon Read and Oppenheimer & Co. will manage the IPO and hold an overallotment option of 450,000 ADS. The IPO is expected to be priced in the first week of August. In conjunction with the IPO, Barr will make an initial equity investment in Warner Chilcott worth $5 mil.; Barr may double the investment within four years. Warner Chilcott will use Barr to manufacture and distribute "certain generic versions of its branded products," Barr says. Barr will "capitalize on Warner Chilcott's trusted medical heritage and brand equity...for certain branded products as well as future NDA products"...
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