Warner Chilcott Moves Operations To Ireland

NEW YORK (AP) -- Drug developer Warner Chilcott said Friday it completed its move to Ireland from Bermuda.

The company is now Warner Chilcott PLC rather than Warner Chilcott Ltd. Its directors approved the move in May, pointing to advantages such as a stable long-term legal and regulatory environment, tax treaties, and history of international investment. Shareholders later approved as well.

Earlier this month, Warner Chilcott, which focuses on women's healthcare and dermatology, reported that its second-quarter profit rose 67 percent on higher sales of birth control, hormone therapy and dermatology products.

The company completed the move to Ireland on Thursday.

Its shares jumped 76 cents, or 4.9 percent, to $16.33 in Friday morning trading.

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