Warner Chilcott Completes Acquisition of U.S. Rights to Enablex® for $400 Million

Warner Chilcott plc

today announced that it has completed its acquisition of the U.S. rights to Enablex® from Novartis for $400 million in cash. Enablex is a product indicated to treat adults with symptoms of overactive bladder, which had U.S. sales of approximately $190 million for the year ended December 31, 2009. Concurrently with the closing of the transaction, Warner Chilcott and Novartis terminated their existing co-promotion agreement, and Warner Chilcott assumed full control of sales and marketing of Enablex for the U.S. market. Warner Chilcott expects to assume manufacturing control for the U.S. within three years. Novartis retains the rights to Enablex for all countries outside the U.S.