| Warner Chilcott Labs PLC | |||
| Ticker: | WCRXY | Lincoln House, Lincoln Place | |
| Exchange: | NASDAQ-National Market | Dublin, IRELA | |
| Industry: | Manufacturing (SIC Code 2834) | ||
| Type of Shares: | American Depositary Receipts | Filing Date: | 7/14/97 | |
| U.S. Shares: | 3,500,000 | Offer Date: | 8/7/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $16.00 - $18.00 | |
| Primary Shares: | 3,500,000 | Offer Price: | $17.50 | |
| Secondary Shares: | 0 | Gross Spread: | $1.23 | |
| Offering Amount: | $59,500,000 | Selling: | $0.70 | |
| Expenses: | $1,000,000 | Reallowance: | $0.10 | |
| Shares Out After: | 11,424,959 |
| Manager | Tier | Phone |
| Cowen & Company | Lead Manager | (212) 495-6000 |
| Dillon, Read & Co. Inc. | Co-manager | (212) 906-7523 |
| Oppenheimer & Company, Inc. | Co-manager | (212) 667-7400 |
| Issuer's Law Firm: | Cahill Gordon & Reindel |
| Bank's Law Firm: | Brown & Wood |
Dollar amounts in U.S. millions except for per share data | |||||
| 3 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 3/31/97 | 3/31/96 | 3/31/97 | ||
| Revenue: | $78.12 | $19.04 | $15.42 | Assets: | $113.38 |
| Net Income: | -$24.91 | -$7.42 | -$14.08 | Curr Assets: | |
| EPS: | -$3.19 | -$1.52 | Liabilities: | $92.31 | |
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | Equity: | $21.07 | |||
| Cash Flow/Fin: | Cash: | $2.39 | |||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is engaged in the development, marketing, sale and distribution of prescription pharmaceutical products. Through research, development and manufacturing relationships with several corporate collaborators, including Elan Corporation, plc, Warner-Lambert Company and Barr, the company is developing and commercializing branded and complex generic pharmaceutical products. The company's portfolio of branded products is being developed for the dermatology, cardiology and women's health care specialty markets. The company's portfolio of complex generic products is being developed through its relationship with Elan, a leader in the development of controlled release drug delivery systems and complex formulation technologies. The company was founded in Ireland in 1992 as Nale Laboratories Limited by Elan to develop and market complex generic drugs based on Elan's proprietary drug delivery technologies. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay a loan from Elan that funded the acquisition of five products from Warner-Lambert, to acquire a synthetic estrogen treatment from Smithkline Beecham PLC, to pay for research and development, to fund other acquisitions of products and to pay for working capital and other general corporate purposes. |