Procter and Gamble acquired by Warner Chilcott

Procter and Gamble’s pharmaceuticals business has been acquired by Warner Chilcott, it has been announced.

The transaction involves a cash settlement of $3.1 billion (1.91 billion pounds), it was revealed, with this agreement allowing Warner Chilcott to take charge of P&G’s portfolio of branded pharmaceutical products.

These include its delayed release tablets for ulcerative colitis Asacol HD (mesalamine), Actonel (risedronate sodium) for osteoporosis, and the company’s prescription drug product processes and manufacturing facilities in both Germany and Puerto Rico.

According to the firms, the transaction will be complete by the end of 2009 and the bulk of Procter and Gamble’s 2,300 employee base will be absorbed by Warner Chilcott.

“This move enables us to focus singularly on winning in consumer healthcare – personal healthcare, oral care and feminine care,” explained Bob McDonald, president and chief executive officer of Procter and Gamble.

Earlier this month, Procter and Gamble appointed a new director, Maggie Wildetrotter, who joined the firm’s ranks with immediate effect.