UK's Warner Chilcott has agreed to buy P&G's prescription drug business, expanding the company's presence in the U.S.
From The Economic Times:
NEW YORK: American consumer products major Procter & Gamble Company will be selling its global pharmaceuticals business to Ireland-based pharma entity Warner Chilcott Plc for about USD 3.1 billion.The transaction is expected to be completed by the end of this year, subject to regulatory approvals.
Both companies in a statement today said they have entered into an agreement for the proposed acquisition, for an up-front cash payment of USD 3.1 billion.
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