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Filed by Warner Chilcott PLC
Pursuant to Rule 425 under the Securities Act of 1933
and deemed filed pursuant to Rule 14a-12 of the
Securities Exchange Act of 1934
Subject Company: Warner Chilcott plc
Commission File No.: 005-52501
The following document is a written communication first used as of July 19,
2000:
1. Press Release
[WARNER CHILCOTT LOGO]
NEWS RELEASE
Dublin, Ireland/Rockaway, NJ July 19, 2000
WARNER CHILCOTT STRENGTHENS FOCUS ON WOMEN'S HEALTH CARE MARKET
Dublin, Ireland/Rockaway, NJ...July 19, 2000... Warner Chilcott, plc
(NASDAQ:WCRX) today announced the termination of their co-promotion agreement
with Schering-Plough Corporation for their cardiovascular products K-DUR(R), an
extended-release potassium supplement and Nitro-Dur(R), a nitroglycerin patch
for angina, as well as for Lotrisone(R), a topical combination
antifungal/corticosteroid, effective September 30, 2000.
"We anticipate a number of developments during the third and fourth quarters to
broaden our women's healthcare product portfolio. We are in active negotiations
to acquire several additional branded pharmaceutical products in the women's
healthcare segment. Looking ahead to our merger with Galen Holdings, we need to
prepare Warner Chilcott for the commercialization of Galen's product development
portfolio, particularly their proprietary intravaginal ring (IVR) drug delivery
platform and other products for the women's healthcare market. As a result, we
need to devote our sales force capacity and marketing efforts exclusively to
women's healthcare, specifically the ob/gyn and urology physician specialties,
and can no longer allocate our resources to other segments such as cardiology.
We have enjoyed our mutually beneficial relationship with Schering-Plough and
appreciate their partnership over the past two years," said Roger M.
Boissonneault, President of Warner Chilcott, plc.
"The Board of Galen firmly believes that there is an excellent strategic fit
between Warner Chilcott and Galen to create an international specialty
pharmaceutical products and services business. The Board remains confident that
Warner Chilcott will continue strengthening its position in women's healthcare
through acquiring and in-licensing further products and look forward to the
completion of this transaction," said Dr. John King, Chief Executive Officer of
Galen Holdings, plc (LSE:GAL).
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Warner Chilcott is a developer and marketer of prescription pharmaceutical
products in the United States, primarily focused on the women's health
therapeutic category. Through its national sales force of over 260
representatives, Warner Chilcott markets branded pharmaceutical products,
including prenatal vitamins, urinary tract analgesics, oral contraceptives, and
hormone replacement therapy products, directly to physician specialists across
the country, particularly obstetrician/gynecologists and urologists. The
Company's principal offices are in Dublin, Ireland and Rockaway, New Jersey.
Note:
Statements made in this press release include forward-looking statements made
pursuant to the safe harbor provisions of the Securities Litigation Reform Act
of 1995. Such statements, including those relating to financial expectations for
the fiscal year 2000 and beyond, involve certain risks and uncertainties that
could cause actual results to differ materially from those in the forward
looking statements, including, but not limited to, the Company's dependence on
key products, risks associated with product development and manufacturing, the
uncertainty of future financial results and fluctuations in operating results,
dependence on the Company's acquisition strategy, new product introductions and
other risks described from time to time in the Company's SEC filings. These
forward-looking statements represent the judgment of the Company, as of the date
of this release, and the Company disclaims any intent or obligation to update
these forward-looking statements. Information on other significant potential
risks and uncertainties not discussed herein may be found in the Company's
filings with the Securities and Exchange Commission including its Form 10K for
the year ended December 31, 1999 and Form 10Q for the quarter ended March 31,
2000.
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Co. Contact:
Diane M. Cady
Senior Vice President, Investor Relations & Corporate Communications
(973) 442-3327 or (800) 521-8813
