Warner Chilcott and Barr Announce Settlement of Femcon(R) Fe Patent Challenge
December 22 2008 - 5:00PM
PR Newswire (US)
ST. DAVID'S, Bermuda, Dec. 22 /PRNewswire-FirstCall/ -- Warner
Chilcott Limited (NASDAQ:WCRX) today announced that its subsidiary
Warner Chilcott Company, Inc. and Barr Laboratories, Inc., a
subsidiary of Barr Pharmaceuticals, Inc. (NYSE:BRL), have entered
into a Settlement and License Agreement to resolve the pending
patent litigation involving Warner Chilcott's oral contraceptive
product, Femcon(R) Fe. Under the terms of the agreement, Barr will
have a license to launch a generic version of Femcon(R) Fe as early
as July 1, 2012, approximately 7 years earlier than the expiration
of the Warner Chilcott patent at issue in the litigation, or
earlier in certain circumstances. Barr will pay Warner Chilcott a
royalty on net sales of Barr's generic product. The parties will
promptly file a dismissal without prejudice in the United States
District Court for the District of New Jersey that will conclude
this litigation. 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 U.S. WCRX-G. Read more on http://www.warnerchilcott.com/. About
Barr Pharmaceuticals, Inc. Barr Pharmaceuticals, Inc. is a global
specialty pharmaceutical company that operates in more than 30
countries worldwide and is engaged in the development, manufacture
and marketing of generic and proprietary pharmaceuticals,
biopharmaceuticals and active pharmaceutical ingredients. A holding
company, Barr operates through its principal subsidiaries: Barr
Laboratories, Inc., Duramed Pharmaceuticals, Inc. and PLIVA d.d.
and its subsidiaries. The Barr Group of companies markets more than
120 generic and 27 proprietary products in the U.S. and
approximately 1,025 products globally outside of the U.S. For more
information, visit http://www.barrlabs.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 (including the approval and introduction of
generic or branded products that compete with our products); 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; adverse outcomes in our outstanding litigation or an
increase in the number of litigation matters to which we are
subject; 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
manage the growth of our business by successfully identifying,
developing, acquiring or licensing new products at favorable prices
and marketing such new products; our ability to obtain regulatory
approval and customer acceptance of new products, and continued
customer acceptance of our existing products; changes in tax laws
or interpretations that could increase our consolidated tax
liabilities; the other risks identified in our Annual Report on
Form 10-K for the year ended December 31, 2007; and other risks
detailed from time-to-time in our public filings, 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. DATASOURCE:
Warner Chilcott Limited CONTACT: Rochelle Fuhrmann, Senior
Director, Investor Relations of Warner Chilcott Limited,
+1-973-442-3200, or Web Site: http://www.barrlabs.com/
http://www.warnerchilcott.com/
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