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P&G Exits Pharmaceutical Industry

Sells unit to Warner Chilcott for an up-front cash payment of $3.1 billion.

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By: TOM BRANNA

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Procter & Gamble has sold its pharmaceutical unit to Warner Chilcott, a specialty pharmaceutical company based in Ireland,for $3.1 billion. The business had revenues of approximately $2.3 billion, and net income of approximately $540 million for the year ended June 30, 2009. “This move enables us to focus singularly on winning in consumer health care—personal health care, oral care and feminine care,” said Bob McDonald , president and chief executive officer of Procter &#03...

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