P&G selling prescription drug division to Warner Chilcott

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Warner Chilcott will pay Procter & Gamble $3.1 billion for the firm's prescription drug division, including Actonel for osteoporosis and Asacol HD for ulcerative colitis. The deal gives Warner Chilcott a small and aging, but profitable, portfolio of drugs that generated revenues of around $2.3 billion and net income of around $540 million in the past year.

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