Warner Chilcott IPO Prices Even Lower
Warner Chilcott (WCRX) priced its 70.6 million share IPO at $15.00. The talk had been for a slightly lower pricing, but this is far under the $17.00 to $19.00 range.
Warner Chilcott was spun out of Warner Lambert, which ended up under Pfizer. Warner Chilcott focuses on feminine health products, urology and dermatology.
Joint book-runners were Goldman Sachs, Credit Suisse, J.P.Morgan, and Morgan Stanley; and co-managers were Deutsche bank, Merrill Lynch, Bear Stearns, UBS, and Wachovia.