Warner Chilcott's term loan "B" dropped under par on news it is being sued by the U.S. Federal Trade Commission for blocking generic production of an oral contraceptive. Its term loan "B" fell to 99 7/8 from 100 1/8. Warner Chilcott, a pharmaceutical company, reportedly paid another drug company, Barr Pharacueticals, $20 million to prevent Barr's generic Ovcon from entering the U.S. market until May 2009. The suit filed in the U.S. District Court for the District of Columbia seeks to stop the provision barring the generic version from the U.S. market. Twenty-one states and the District of Columbia are reportedly seeking civil penalties. Warner Chilcott officials could not be reached by press time.
Warner Chilcott Falls On Litigation News