Warner Chilcott Wraps Up Irish Move – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/23889/Warner+Chilcott+Wraps+Up+Irish+Move+-+Zacks+Tale+of+the+TapePosted on Friday, August 21st, 2009 | In Market Commentary, Stocks to Watch
Warner Chilcott (WCRX) has announced that it has completed its move to Ireland from Bermuda.
As per the transaction Warner Chilcott Ltd. became a wholly-owned subsidiary of Warner Chilcott Plc.
The movement to Ireland was approved by the company’s board in May this year, citing advantages such as, stable long-term legal and regulatory environment and robust network of tax treaties with other countries. The move received shareholder approval earlier this month.
Meanwhile, the specialty pharmaceutical company reported second-quarter earnings of 44 cents per share on Aug 7, beating the Zacks Consensus Estimate by nearly 13%.
WCRX, a Zacks #3 Rank (”Hold”) stock, has advanced more than 3% so far today on higher-than-usual volume of about 1.8 million, compared to the average daily volume of approximately 1.2 million.
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