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作者：NC 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
P&G selling drug unit
By David Holthaus • [email protected] • August 23, 2009
Procter & Gamble has agreed to sell its Mason-based pharmaceutical business to specialty pharmaceutical maker Warner Chilcott for $3.1 billion in cash, the company said today.
The move will affect about 450 employees at P&G's Mason Business Center and about 2,300 worldwide.
Warner Chilcott will acquire P&G's portfolio of brand-name prescription drugs, including Asacol, a treatment for ulcerative colitis; Actonel, an osteoporosis drug; and the co-promotion rights to Enablex for the treatment of overactive bladder.
The deal also includes P&G's prescription drug product pipeline, which includes Intrinsa, a female testosterone patch for postmenopausal women. It also includes and manufacturing facilities in Puerto Rico and Germany.
P&G said the majority of the 2,300 employees working on P&G's pharmaceuticals business are expected to transfer to Warner Chilcott. The transaction is expected to close by the end of the year, pending necessary regulatory approvals.
P&G spokesman Tom Millikin said 85 percent of the pharmaceutical employees will transfer to Warner Chilcott and the other 15 percent will stay with P&G to work on its consumer health care businesses.
The "vast majority" will likely continue working in their current communities, Millikin said.
P&G CEO Robert McDonald said the sale will allow the company to focus more on over-the-counter consumer health care products such as its Vicks, Crest, Prilosec and Always brands.
P&G announced in December that it was looking for a buyer for some or all of its prescription drug brands. It also announced then that it was ending new research and development into pharmaceuticals.
Pressure to lower drug prices and a difficult, time-consuming regulatory environment led to the decisions to de-emphasize the brands, P&G officials said at the time.
One of P&G’s top-selling drug brands is Actonel, a prescription drug for osteoporosis that is one of P&G’s 23 brands with sales of $1 billion or more a year.
Its prescription drug portfolio also includes Intrinsa, a female testosterone patch that is awaiting Food and Drug Administration approval, and Asacol, a drug that treats ulcerative colitis.
Warner Chilcott, whose parent company is based in Ireland and has its U.S. headquarters in Rockaway, N.J., is focused on the U.S. market in oral contraceptives and dermatology products. It reported 2008 revenue of $900 million.
Although sales in P&G’s health and well-being business unit, which includes pharmaceuticals, have nearly doubled since 2003, much of the growth has come in its over-the-counter, consumer health-care brands such as Vicks, Crest and Always.
P&G has struggled to define its pharmaceuticals business over the years. It entered the business in 1982. In 1999, its stock plummeted after Wall Street became aware that officials were exploring a $140 billion merger with two pharmaceutical giants, Warner-Lambert Co. and American Home Products Corp.
The 1.6 million-square-foot facility off Mason-Montgomery Road, now called the Mason Business Center, opened in 1995 on 250 acres a few miles north of Interstate 71.
The center helped lure stores, homes and other businesses to Mason. It also was the model of “co-location” – making P&G Pharmaceuticals the first division of the company where marketing, development, research and finance executives worked side by side.
作者：NC 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 [分享]P&G selling drug unit -- NC - (3571 Byte) 2009-8-24 周一, 23:12 (1449 reads)
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