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WCRX

Warner Chilcott Limited

5/20/2013, 1:12 PM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
| Dividends
| M&A
| On the move

Monday, May 20, 7:15 AM Actavis (ACT) confirms it will buy Warner Chilcott (WCRX) for $8.5B in a stock for stock transaction. The deal will see Warner Chilcott shareholders receive 0.160 shares of the "new" Actavis for each Warner Chilcott share they own. The combined company will become the third-largest specialty pharmaceutical player in the U.S. 1 Comment [Healthcare, M&A]
Monday, May 20, 7:08 AM Shares of Warner Chilcott (WCRX) are halted with news pending. Comment! [Healthcare]
Friday, May 17, 2:34 PM Actavis' (ACT +1.5%) pursuit of Warner Chilcott (WCRX +0.5%) may be a way to defend itself from a potential takeovers by Valeant Pharmaceuticals (VRX +2.5%) and Mylan (MYL +2.2%). VRX routinely looks at potential acquisitions, but to date has stayed away from WCRX because of its dwindling pipeline, so a combined ACT/WCRX deal would be out of the picture. And it would be virtually impossible for MYL, with a market value of $11.7B, to buy the combined firm. It already has about $6B in debt and Street estimates put a combined companies near $21B. Comment! [Healthcare, M&A]
Wednesday, May 15, 8:28 PM Actavis (ACT), which has rebuffed overtures from both Valeant (VRX) and more recently Mylan (MYL), may soon receive a bid from Novartis (NVS), WSJ says. "Intense price competition and fewer opportunities to cash in on patent expirations," are fueling a consolidation scramble in the generic-drug industry, the Journal notes, and ACT — which is also playing the role of acquirer in negotiations with Warner Chilcott (WCRX) — is at the center of the deal-making rumor mill. Comment! [Healthcare]
Monday, May 13, 3:01 PM Buckingham joins in on the Warner Chilcott (WCRX +6%)/Activis (ACT -0.3%) lovefest, upping its price target on Warner to $24, adding that it sees the potential for a debt-financing deal as high as $30 per share for the company. Comment! [Healthcare, On the Move]
Monday, May 13, 8:11 AM The sell-side loves the Warner Chilcott/Actavis deal, with Morgan Stanley, UBS, and CRT Capital all giving their blessing. UBS sees 50-60% accretion in 2015 and thinks the deal gets done about $23/share. WCRX +5.1% premarket. ACT closed Friday at $119.86. Comment! [Healthcare, M&A]
Friday, May 10, 3:07 PM Shares of Activis (ACT +11.4%) and Warner Chilcott (WCRX +24.2%) both resume trading. Comment! [Healthcare, M&A, On the Move]
Friday, May 10, 3:02 PM Shares of Activis (ACT +11.9) and Warner Chilcott (WCRX +11%) both remain halted after confirming they are in merger talks. Shares are due to resume trading shortly. Comment! [Healthcare, On the Move, M&A]
Friday, May 10, 12:52 PM Midday top 10 gainers: UNIS +58%. DRAM +57%. VRML +26%. SREV +22%. MCP +20%. UBNT +18%. RH +18%. WCRX +17%. CSIQ +16%. SQNM +16%.
Midday top 10 losers: PTIE -48%. DRRX -41%. IFMI -34%. AFFY -26%. SRT -23%. LPDX -22%. OPTR -17%. REFR -16%. PANL -16%. TRMD -15%. Comment! [On the Move]
Friday, May 10, 12:40 PM More on Actavis (ACT +6.1%) / Warner Chilcott (WCRX +12.3%): The news comes just weeks after ACT broke off merger talks with Valeant Pharmaceuticals (VRX +0.5%) after balking at the premium it was offered. Now, considering the strength of ACT's recent Q1 report, that deal looks dead. Warner, on the other hand, had disclosed over a year ago that it was pursuing a sale. Comment! [Healthcare, M&A, On the Move]
Friday, May 10, 12:17 PM Shares of Actavis (ACT +3%) spike higher on reports the company is in early-stage talks to acquire Warner Chilcott (WCRX +9.5%). Comment! [Healthcare, M&A, On the Move]
Friday, May 10, 7:59 AM Warner Chilcott (WCRX): Q1 EPS of $0.45. Revenue of $593M beats by $4.94M. (PR) Comment! [Earnings, Breaking News, Healthcare]
Friday, May 10, 12:05 AM Notable earnings before Friday’s open: AWR, DRH, EVEP, HL, MT, PGNX, TRLG, VTG, WCRX Comment! [Earnings]
Thursday, May 9, 5:30 PM Notable earnings before Friday’s open: AWR, DRH, EVEP, HL, MT, PGNX, TRLG, VTG, WCRX Comment! [Earnings]
Wednesday, May 8, 9:04 AM Warner Chilcott (WCRX) declares $0.25/share semi-annual dividend, in line with previous. Forward yield 3.34%. For shareholders of record May 31. Payable June 14. Ex-div date May 29. (PR) Comment! [Dividends]
Friday, April 12, 8:44 AM Warner Chilcott (WCRX) receives FDA approval for delayed-release 200 mg DORYX tablets (tetracycline) and will launch the product in July. Comment! [Healthcare]