ARDEE, Ireland, Dec 15, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- Warner Chilcott plc (Nasdaq: WCRX) announced today that Sanofi-Aventis U.S. LLC ("Sanofi") has elected not to exercise its right to put its interest in the global marketing and collaboration agreement (the "Marketing Agreement"). As previously disclosed, Warner Chilcott's acquisition of the global branded prescription pharmaceuticals business of The Procter & Gamble Company ("P&G") on October 30, 2009 (the "PGP Acquisition"), constituted a change of control under the Marketing Agreement between a P&G subsidiary acquired by Warner Chilcott and Sanofi relating to the development and sale of risedronate products (including Actonel(R)). Pursuant to the Marketing Agreement, the change of control gave Sanofi the right to exercise an option to put its interest in the Marketing Agreement to Warner Chilcott at a fair market value to be determined by independent third party firms (the "Sanofi Put"). The terms of the Marketing Agreement remain unchanged.
Warner Chilcott is a leading specialty pharmaceutical company currently focused on the gastroenterology, women's healthcare, dermatology and urology segments of the U.S. and Western European pharmaceuticals markets. The Company is a fully integrated company with internal resources dedicated to the development, manufacturing and promotion of its products. WCRX-G.
SOURCE Warner Chilcott plc
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