HAMILTON, Bermuda, April 16 /PRNewswire-FirstCall/ -- Warner Chilcott Limited announced today that it has reached tentative settlements to conclude the antitrust lawsuits brought by thirty-four states and the District of Columbia and indirect purchasers, including the third- party payor class action plaintiffs and the personal use consumer class action plaintiffs, against certain of its subsidiaries. These lawsuits involve one of the Company’s combined hormonal contraceptives, Ovcon(R) 35. Under the proposed settlements, all claims will be dismissed and the litigations will be terminated in exchange for cash payments and/or product donations amounting to approximately $7.5 million in the aggregate. The settlements remain subject to negotiation of definitive documentation and necessary approvals by the parties and the Court.
These settlements do not include the related pending actions brought by certain individual and class action direct purchaser plaintiffs. Warner Chilcott continues to vigorously defend these lawsuits. Although it is impossible to predict with certainty the impact that these settlements will have on the continuing actions, or the outcome of any litigation, Warner Chilcott is confident in the merits of its defense and does not anticipate an unfavorable outcome.
About Warner Chilcott
Warner Chilcott is a specialty pharmaceutical company focused on developing, manufacturing, marketing and selling branded prescription pharmaceutical products in women’s healthcare and dermatology in the United States. WCRX-G
Read more on http://www.warnerchilcott.com.
Warner Chilcott’s Forward Looking Statements:
This press release contains forward-looking statements, including statements concerning our product development efforts. These statements constitute forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words “may,” “might,” “will,” “should,” “estimate,” “project,” “plan,” “anticipate,” “expect,” intend,” “outlook,” “believe” and other similar expressions are intended to identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward looking statements, which speak only as of their dates. These forward-looking statements are based on estimates and assumptions by our management that, although we believe to be reasonable, are inherently uncertain and subject to a number of risks and uncertainties.
The following represent some, but not necessarily all, of the factors that could cause actual results to differ from historical results or those anticipated or predicted by our forward-looking statements: our substantial indebtedness; competitive factors in the industry in which we operate; our ability to protect our intellectual property; a delay in qualifying our manufacturing facility to produce our products or production or regulatory problems with either third party manufacturers upon whom we may rely for some of our products or our own manufacturing facility; pricing pressures from reimbursement policies of private managed care organizations and other third party payors, government sponsored health systems, the continued consolidation of the distribution network through which we sell our products, including wholesale drug distributors and the growth of large retail drug store chains; the loss of key senior management or scientific staff; an increase in litigation, including product liability claims and patent litigation; government regulation affecting the development, manufacture, marketing and sale of pharmaceutical products, including our ability and the ability of companies with whom we do business to obtain necessary regulatory approvals; our ability to successfully complete the implementation of a company-wide enterprise resource planning system without disrupting our business; our ability to manage the growth of our business by successfully identifying, developing, acquiring or licensing and marketing new products, obtain regulatory approval and customer acceptance of those products, and continued customer acceptance of our existing products; and other risks detailed from time-to-time in our periodic reports filed with the Securities and Exchange Commission, our financial statements and other investor communications.
We caution you that the foregoing list of important factors is not exclusive. In addition, in light of these risks and uncertainties, the matters referred to in our forward-looking statements may not occur. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as may be required by law.
Warner Chilcott Limited
CONTACT: Rochelle Fuhrmann, Investor Relations of Warner Chilcott,+1-973-442-3281, rfuhrmann@wcrx.com
Web site: http://www.warnerchilcott.com//
