DUBLIN, Ireland, July 15, 2011 (GLOBE NEWSWIRE) -- Warner Chilcott plc (Nasdaq:WCRX) today announced that it received a decision from the arbitration panel in its previously disclosed arbitration proceeding relating to the termination date of its global collaboration agreement with Sanofi-Aventis U.S. LLC ("Sanofi"). Under the collaboration agreement, Warner Chilcott and Sanofi co-develop and market ACTONEL on a global basis, excluding Japan, and Warner Chilcott markets its next generation product, ATELVIA, in the United States.
On July 14, 2011, the arbitration panel rendered its decision, finding that the collaboration agreement will terminate on January 1, 2015, the original expiration date of the agreement. Warner Chilcott had sought a ruling that the termination of its tablet supply agreement with Sanofi would accelerate the termination date of the collaboration agreement to May 2012.
The decision maintains the original termination date of the agreement, and does not affect the commercial terms of the collaboration in any way. Under the collaboration agreement, Warner Chilcott and Sanofi will continue to promote ACTONEL and ATELVIA products as described above until January 1, 2015, at which time all of Sanofi's rights under the agreement will revert to Warner Chilcott. Thereafter, Warner Chilcott will have the sole right to market and promote ACTONEL and ATELVIA on a global basis, excluding Japan.
About Warner Chilcott
Warner Chilcott is a leading specialty pharmaceutical company currently focused on the gastroenterology, women's healthcare, dermatology and urology segments of the North American and Western European pharmaceuticals markets. The Company is fully integrated with internal resources dedicated to the development, manufacturing and promotion of its products. WCRX-G
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