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Warner Chilcott Plc (WCRX) News: Actavis Inc (ACT) Update, £18 Million Gain & More

Editor’s Note: Warner Chilcott Plc (NASDAQ:WCRX), Actavis Inc (NYSE:ACT)

Actavis to buy Warner Chilcott in $5 billion stock deal (Reuters)
Generic drugmaker Actavis Inc (NYSE:ACT), itself the subject of takeover speculation, said on Monday it would buy specialty pharmaceutical company Warner Chilcott Plc (NASDAQ:WCRX) for $5 billion in stock to expand its branded drug portfolio, lower taxes and increase profits. Warner Chilcott Plc (NASDAQ:WCRX) brings a portfolio of branded women’s health pharmaceuticals, such as the contraceptive patch to Actavis Inc (NYSE:ACT), which makes and sells drugs that are no longer under patent protection.

Warner Chilcott Plc (NASDAQ:WCRX)

John King set for £18m windfall from Warner Chilcott takeover (BBC)
A former lecturer from Queen’s University Belfast is set to make more than £18m from the takeover of the pharmaceutical firm, Warner Chilcott Plc (NASDAQ:WCRX). It will be the second fortune John King has made from the business that he helped to build. He made more than £100m when the business was sold to two private equity funds in 2004. His remaining shareholding is valued at £18m based on the deal struck on Monday with generic drugmaker Actavis Inc (NYSE:ACT).

Shares grind higher, yen rebounds on minister’s remarks (Reuters)
Global equity markets resumed this year’s rally on Monday, driven higher by a flurry of merger and acquisition activity, while a recent tumble in the yen against the dollar halted after Japan’s economy minister suggested the currency might have weakened enough. In another deal, generic drugmaker Actavis Inc (NYSE:ACT), itself the subject of takeover speculation, said it would buy specialty pharmaceutical company Warner Chilcott Plc (NASDAQ:WCRX) for $5 billion in stock. Actavis Inc (NYSE:ACT) rose 2.7 percent to $128.89, while Warner Chilcott Plc (NASDAQ:WCRX) gained 3.33 percent to $19.85.

Warner Chilcott Downgraded to Hold at Needham & Company (WCRX) (MideastTime)
Warner Chilcott Plc (NASDAQ:WCRX) was downgraded by research analysts at Needham & Company from a “buy” rating to a “hold” rating in a report released on Monday, reports. Warner Chilcott Plc (NASDAQ:WCRX) traded up 2.50% on Monday, hitting $19.69. Warner Chilcott Plc (NASDAQ:WCRX) has a 1-year low of $10.85 and a 1-year high of $23.28. The stock’s 50-day moving average is currently $13.5. The company has a market cap of $4.938 billion and a price-to-earnings ratio of 11.93.

Bulls return for dose of Warner Chilcott (Nasdaq)
Irish drug maker Warner Chilcott Plc (NASDAQ:WCRX) rallied earlier this month, and the bulls are back today. optionMONSTER’s Heat Seeker monitoring program detected the purchase of 6,000 July 19 calls for $1.82 and the sale of an equal number of October 16 puts for $0.82. Volume was more than 4 times open interest at each strike, indicating new activity.