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Thursday, September 21, 2006

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.

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