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Warner Chilcott Takes Itself Off The Market; Special Dividend Disappoints

This article was originally published in The Pink Sheet Daily

Executive Summary

Warner Chilcott has ended all discussions with parties potentially interested in buying the company and tried to satisfy investors with a special dividend as a consolation prize.

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Actavis’ purchase of Warner Chilcott will lower the former’s overall tax rate significantly, expand its specialty pharma business to 25% of total revenues, and provide global critical mass – all necessary responses to a future that includes fewer opportunities for small molecule generics and greater pricing pressures.

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