NATION
Company’s plan to buy P&G sends stock soaring
TRENTON, N.J. — Shares of Ireland’s Warner Chilcott PLC skyrocketed Monday on news of its bid to morph from a small, specialty pharmaceutical company to a global player by buying Procter & Gamble Co.’s prescription drug business for $3.1 billion. The maker of women’s health and dermatology products will get a portfolio with $2.3 billion in annual sales, including blockbuster osteoporosis drug Actonel, and triple its revenue in a rare deal financed entirely by bank debt. Overnight, Ardee, Ireland-based Warner Chilcott will greatly expand its women’s health products, gain a toehold in the urology and gastroenterology markets, and expand into 14 countries, mainly in Western Europe.
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