Warner Chilcott Reports Operating Results for the Quarter Ended September 30, 2012

Warner Chilcott Reports Operating Results for the Quarter Ended September 30,
2012

Revenue Growth in Several Key Promoted Products and Lower SG&A Drive Growth in
Adjusted Cash Net Income

DUBLIN, Ireland, Nov. 9, 2012 (GLOBE NEWSWIRE) -- Warner Chilcott plc
(Nasdaq:WCRX) today announced its results for the quarter ended September 30,
2012.

Total revenue in the quarter ended September 30, 2012 was $606 million, a
decrease of $49 million, or 7%, compared to the quarter ended September 30,
2011. For the quarter ended September 30, 2012, the decrease in revenues as
compared to the prior year quarter was primarily driven by a decrease in
ACTONEL revenues of $47 million, due in large part to continuing declines in
ACTONEL rest of world ("ROW") and Canadian net sales following the 2010 loss
of exclusivity in Western Europe and Canada, as well as the overall declines
in the U.S. oral bisphosphonate market, offset, in part, by net sales growth
in certain promoted products, primarily LO LOESTRIN FE, ATELVIA and ESTRACE
Cream. Combined, net sales of these three products increased $21 million, or
28%, compared to the prior year quarter.

We reported GAAP net income of $113 million, or $0.45 per diluted share, in
the quarter ended September 30, 2012, compared with GAAP net income of $33
million, or $0.13 per diluted share, in the prior year quarter. Cash net
income (or CNI, as defined below) for the quarter ended September 30, 2012 was
$241 million, compared to $185 million in the prior year quarter. Adjusted CNI
was $247 million in the quarter ended September 30, 2012, an increase of $18
million, or 8%, compared to adjusted CNI of $229 million in the prior year
quarter. In computing adjusted CNI for the quarter ended September 30, 2012,
we excluded a $6 million litigation-related charge, net of tax. In computing
adjusted CNI for the quarter ended September 30, 2011 we excluded $44 million
of restructuring costs, net of tax, related to the restructuring of certain of
our Western European operations.

References in this press release to "cash net income" or "CNI" mean our GAAP
net income adjusted for the after-tax effects of two non-cash items:
amortization (including impairments, if any) of intangible assets and
amortization (including write-offs, if any) of deferred loan costs related to
our debt. Adjusted CNI represents CNI as further adjusted to exclude certain
after-tax impacts from the Western European restructuring, the repurposing of
our Manati facility, a litigation-related charge and the impact of a gain
relating to a reversal of the liability for contingent milestone payments.
Reconciliations from our reported results in accordance with Generally
Accepted Accounting Principles in the U.S. ("GAAP") to CNI, adjusted CNI and
adjusted earnings before interest, taxes, depreciation and amortization
("Adjusted EBITDA") for all periods presented are included in the tables at
the end of this press release.

Strategic Initiatives

2012 Special Dividend Transaction and Related Financing

On August 20, 2012, certain of our subsidiaries entered into an amendment to
the credit agreement governing our Initial Senior Secured Credit Facilities
(as defined below), pursuant to which the lenders thereunder provided
additional term loans in an aggregate principal amount of $600 million (the
"Additional Term Loan Facilities" and, together with the Initial Senior
Secured Credit Facilities, the "Senior Secured Credit Facilities"), which,
together with cash on hand, were used to fund the 2012 Special Dividend (as
defined below) and to pay related fees and expenses. On August 21, 2012, we
declared a special cash dividend of $4.00 per share, or $1,002 million in the
aggregate (the "2012 Special Dividend").

New Dividend Policy

On November 6, 2012, we declared our first semi-annual cash dividend under our
new dividend policy (the "Dividend Policy") in the amount of $0.25 per share,
payable December 14, 2012 to shareholders of record on November 30, 2012.
Under the Dividend Policy, we expect to pay a total annual cash dividend to
our ordinary shareholders of $0.50 per share in equal semi-annual installments
of $0.25 per share. Any declaration by the Board of Directors to pay future
cash dividends, however, will depend on our earnings and financial condition
and other relevant factors at such time.

Share Redemption Program

In November 2011, we announced that our Board of Directors had authorized the
redemption of up to an aggregate of $250 million of our ordinary shares (the
"Prior Redemption Program"). Pursuant to our Prior Redemption Program, we
redeemed 1.9 million ordinary shares in the nine months ended September 30,
2012 at an aggregate cost of $32 million. Following the settlement of such
redemptions, we cancelled all shares redeemed. On August 7, 2012, we announced
that our Board of Directors had authorized the renewal of our Prior Redemption
Program. The renewed program (the "Current Redemption Program") replaces our
Prior Redemption Program and allows us to redeem up to an aggregate of $250
million of our ordinary shares in addition to those redeemed under the Prior
Redemption Program. The Current Redemption Program will terminate on the
earlier of December 31, 2013 or the redemption by us of an aggregate of $250
million of our ordinary shares. We did not redeem any ordinary shares in the
quarter ended September 30, 2012, and consequently $250 million remained
available for redemption under the Current Redemption Program as of September
30, 2012. The Current Redemption Program does not obligate us to redeem any
number of ordinary shares or an aggregate of ordinary shares equal to the full
$250 million authorization and may be suspended at any time or from time to
time.

Western European Restructuring and Repurposing of the Manati Facility

In April 2011, we announced a plan to restructure our operations in Belgium,
the Netherlands, France, Germany, Italy, Spain, Switzerland and the United
Kingdom. In connection with the restructuring, we have moved to a wholesale
distribution model in the affected jurisdictions to minimize operational costs
going forward. The implementation of the restructuring plan impacted
approximately 500 employees. In April 2011, we also announced a plan,
completed in the year ended December 31, 2011, to repurpose our Manati
manufacturing facility.

In the quarter ended September 30, 2012, pretax severance costs of zero and
other restructuring costs of $1 million, resulting from the Western European
restructuring, were offset, in full, by pension-related curtailment gains of
$1 million. These amounts were included as components of restructuring costs
in our condensed consolidated statement of operations. In the quarter ended
September 30, 2011, we recorded restructuring costs of $45 million ($44
million, net of tax), as a result of the Western European restructuring, which
were included as a component of restructuring costs in our condensed
consolidated statement of operations. In addition, in the nine months ended
September 30, 2011, we recorded $31 million ($31 million, net of tax) of
expenses related to the repurposing of our Manati facility, which were
included as a component of cost of sales. In computing adjusted CNI, we add
back to CNI the after tax impact of these restructuring and repurposing costs.
We do not expect to record any material expenses relating to the Western
European restructuring in future periods.

Refinancing of Senior Secured Indebtedness

In March 2011, certain of our subsidiaries borrowed $3,000 million in
aggregate term loan facilities under our senior secured credit facilities (the
"Initial Senior Secured Credit Facilities") in connection with the refinancing
of our prior senior secured indebtedness. The refinancing resulted in lower
interest rates, which contributed to a decrease in our interest expense on
outstanding indebtedness, net of interest income, in the nine months ended
September 30, 2012 as compared to the prior year period.

Revenue

Total revenue in the quarter ended September 30, 2012 was $606 million, a
decrease of $49 million, or 7%, compared to the prior year quarter. For the
quarter ended September 30, 2012, the decrease in revenues as compared to the
prior year quarter was primarily driven by a decrease in ACTONEL revenues of
$47 million, due in large part to continuing declines in ACTONEL ROW and
Canadian net sales following the 2010 loss of exclusivity in Western Europe
and Canada, as well as the overall declines in the U.S. oral bisphosphonate
market, offset, in part, by net sales growth in certain promoted products,
primarily LO LOESTRIN FE, ATELVIA and ESTRACE Cream. Combined, net sales of
these three products increased $21 million, or 28%, compared to the prior year
quarter.

Period-over-period changes in the net sales of our products are a function of
a number of factors, including changes in: market demand, gross selling
prices, sales-related deductions from gross sales to arrive at net sales and
the levels of pipeline inventories of our products held by our direct and
indirect customers. In addition, the launch of new products, the loss of
exclusivity for our products and transactions such as product acquisitions and
dispositions may also, from time to time, impact our period over period net
sales. We use IMS Health, Inc. ("IMS") estimates of filled prescriptions for
our products as a proxy for market demand in the United States. Although these
estimates provide a broad indication of market trends for our products in the
United States, the relationship between IMS estimates of filled prescriptions
and actual unit sales can vary, and as a result, such estimates may not always
be an accurate predictor of our unit sales. When our unit sales to our direct
customers in any period exceed market demand for our products by end-users (as
measured by estimates of filled prescriptions or its equivalent in units), our
sales in excess of demand must be absorbed before our direct customers begin
to order again, thus potentially reducing our expected future unit sales.
Conversely, when market demand by end-users of our products exceeds unit sales
to our direct customers in any period, our expected future unit sales to our
direct customers may increase. We refer to the estimated amount of inventory
held by our direct customers and pharmacies and other organizations that
purchase our product from our direct customers, which is generally measured by
the estimated number of days of end-user demand on hand, as "pipeline
inventory." Pipeline inventories expand and contract in the normal course of
business. As a result, our unit sales to our direct customers in any period
may exceed or be less than actual market demand for our products by end-users
(as measured by estimates of filled prescriptions). When comparing reported
product sales between periods, it is important to not only consider market
demand by end-users, but also consider whether estimated pipeline inventories
increased or decreased during each period.

Total ACTONEL revenues were $119 million in the quarter ended September30,
2012, a decrease of $47 million, or 28%, compared to the prior year quarter.
Total ACTONEL revenues were comprised of the following components:

                      QuarterEnded            
                      September30, Increase(decrease)
(dollars in millions)  2012    2011    Dollars   Percent
United States          $77    $83    $(6)     (7)%
Non-U.S. North America 5      17     (12)     (71)%
ROW                    25     48     (23)     (48)%
Total net sales        107    148    (41)     (28)%
ROW, other revenue     12     18     (6)      (33)%
Total ACTONEL revenues $119   $166   $(47)    (28)%

In the United States, ACTONEL net sales decreased $6 million, or 7%, in the
quarter ended September30, 2012 compared to the prior year quarter, primarily
due to a decrease in filled prescriptions of 36%, offset, in part, by a
decrease in sales-related deductions, an expansion of pipeline inventories and
higher average selling prices. In the United States, ACTONEL filled
prescriptions continue to decline due primarily to declines in prescriptions
within the overall oral bisphosphonate market. The decline in the Non-U.S.
North American revenues in the quarter ended September30, 2012 was due to the
impact of generic competition following the loss of exclusivity in Canada at
the end of 2010. ACTONEL ROW net sales were $25 million in the quarter ended
September30, 2012, down 48% from $48 million in the prior year quarter, due
to the continued declines in ROW net sales following the 2010 loss of
exclusivity in Western Europe. While we expect to continue to experience
significant declines in total ACTONEL revenues in future periods, we expect
net sales from our new product ATELVIA will grow and partially offset some of
those declines in the U.S. and Canadian markets. ATELVIA, which we began to
promote in the United States in early 2011 and in Canada in early 2012,
generated net sales of $19 million and $11 million in the quarters ended
September30, 2012 and 2011, respectively. The increase in ATELVIA net sales
in the United States primarily relates to an increase in filled prescriptions
of 51% in the quarter ended September30, 2012, offset, in part, by an
increase in sales-related deductions as compared to the prior year quarter.

Net sales of our oral contraceptive products increased $1 million, or 1%, in
the quarter ended September30, 2012, compared with the prior year quarter.
LOESTRIN 24 FE net sales were $95 million in the quarter ended September30,
2012, a decrease of 9%, compared with $104 million in the prior year quarter.
LOESTRIN 24 FE filled prescriptions were negatively impacted by our shift in
promotional focus to LO LOESTRIN FE beginning in early 2011. More
specifically, the decrease in LOESTRIN 24 FE net sales in the quarter ended
September30, 2012 as compared to the prior year quarter was primarily due to
a decrease in filled prescriptions of 15% and an increase in sales-related
deductions, offset, in part, by higher average selling prices and an expansion
of pipeline inventories relative to the prior year quarter. LO LOESTRIN FE,
which we began to promote in the United States in early 2011 and is currently
the primary promotional focus of our women's healthcare sales force efforts,
generated net sales of $33 million and $23 million in the quarters ended
September30, 2012 and 2011, respectively, an increase of 43%. The increase in
LO LOESTRIN FE net sales primarily relates to an increase in filled
prescriptions of 127%, offset, in part by a contraction in pipeline
inventories and an increase in sales-related deductions in the quarter ended
September30, 2012, as compared to the prior year quarter.

Net sales of ESTRACE Cream in the quarter ended September30, 2012 were $45
million, an increase of $3 million, or 7%, compared to the prior year quarter.
The increase was primarily due to an increase in filled prescriptions of 13%
and higher average selling prices, offset, in part, by a contraction of
pipeline inventories relative to the prior year quarter.

Net sales of ASACOL were $191 million in the quarter ended September30, 2012,
an increase of $1 million, or 1%, compared with $190 million in the prior year
quarter. ASACOL net sales in North America totaled $178 million in the
quarters ended September30, 2012 and 2011, including net sales in the United
States of $172 million in the quarters ended September30, 2012 and 2011.
ASACOL net sales in the United States benefited from higher average selling
prices and a decrease in sales-related deductions, offset by a contraction of
pipeline inventories and a decrease in filled prescriptions of 3% based on IMS
estimates, relative to the prior year quarter.

Net sales of ENABLEX in the quarters ended September30, 2012 and 2011 were
$45 million. ENABLEX net sales in the quarter ended September30, 2012 were
impacted by a decrease in filled prescriptions of 17% relative to the prior
year quarter, offset by a decrease in sales-related deductions and higher
average selling prices.

Net sales of DORYX in the quarter ended September30, 2012 were $20 million, a
decrease of $9 million, or 31%, compared to the prior year quarter. The
decrease in DORYX net sales in the quarter ended September30, 2012 relative
to the prior year quarter was due primarily to the introduction of generic
competition for DORYX 150 mg following the April30, 2012 decision of the
United States District Court for the District of New Jersey holding that
neither Mylan Pharmaceutical Inc.'s nor Impax Laboratories, Inc.'s proposed
generic version of DORYX 150 mg infringed the patent covering DORYX 150 mg, as
well as an increase in sales-related deductions, offset, in part, by higher
average selling prices relative to the prior year quarter. We expect generic
competition for DORYX 150 mg to result in significant declines in our future
DORYX net sales. See our Quarterly Report on Form 10-Q for the quarter ended
September30, 2012 for further information with respect to our DORYX 150 mg
patent litigation.

Cost of Sales (Excluding Amortization of Intangible Assets)

Cost of sales (excluding amortization) in the quarter ended September30, 2012
was $79 million, a decrease of $2 million, or 2%, compared with the prior year
quarter. Our cost of sales as a percentage of product net sales was 13% in the
quarters ended September30, 2012 and 2011.

Selling, General and Administrative ("SG&A") Expenses

SG&A expenses for the quarter ended September30, 2012 were $183 million, a
decrease of $33 million, or 15%, from $216 million in the prior year quarter.
Advertising and promotion ("A&P") expenses for the quarter ended September30,
2012 relative to the prior year quarter decreased $12 million, or 38%. The
quarter ended September30, 2011 included A&P expenses attributable to the
U.S. launches of LO LOESTRIN FE and ATELVIA, which were not present in the
quarter ended September30, 2012. In addition, the quarter ended September 30,
2012 benefited from a reduction in expenses resulting from operating savings
realized as a result of the Western European restructuring. Selling and
distribution expenses for the quarter ended September30, 2012 decreased $34
million, or 26%, compared to the prior year quarter. This decrease in the
quarter ended September30, 2012 relative to the prior year quarter was
primarily due to a reduction in expenses resulting from operating savings
realized as a result of the Western European restructuring, the absence of
expenses incurred in the prior year quarter relating to the launches of LO
LOESTRIN FE and ATELVIA, higher U.S. personnel costs in the prior year quarter
and a reduction in co-promote expenses due to the continuing decrease in
ACTONEL ROW net sales following the 2010 loss of exclusivity in Western
Europe. General, administrative and other ("G&A") expenses in the quarter
ended September30, 2012 increased $13 million, or 24%, as compared to the
prior year quarter. This increase relative to the prior year quarter was due,
in part, to a decrease in foreign currency gains of $6 million, an increase in
professional and legal fees and a litigation-related charge of $6 million in
the quarter ended September30, 2012, offset, in part, by operating savings
resulting from the Western European restructuring. The $6 million
litigation-related charge represents our current estimate of damages that are
probable to be paid in connection with our DORYX 150 mg patent litigation. We
expect total SG&A expenses to continue to decline in the 2012 fiscal year
relative to the 2011 fiscal year, due primarily to decreases in A&P and
selling and distribution expenses in the United States and cost savings
realized from the Western European restructuring.

Research and Development ("R&D")

Our investment in R&D for the quarter ended September30, 2012 was $25
million, a decrease of $1 million, or 4%, as compared to the prior year
quarter. The decrease was primarily due to the timing and stages of
development of our various R&D projects offset, in part, by an increase in
regulatory fees primarily related to the filing of certain new product
applications with the U.S. Food and Drug Administration ("FDA"), including in
respect of next generation versions of certain of our existing products. Our
R&D expenses consist of our internal development costs, fees paid to contract
development groups and license fees paid to third parties. R&D expenditures
are subject to fluctuation due to the stage and timing of our R&D projects and
the timing of our FDA filings.

Amortization and Impairment of Intangible Assets

Amortization of intangible assets in the quarters ended September30, 2012 and
2011 was $122 million and $148 million, respectively. Our amortization
methodology is calculated on either an economic benefit model or a
straight-line basis to match the expected useful life of the asset, with
identifiable assets assessed individually or by product family. The economic
benefit model is based on expected future cash flows and typically results in
accelerated amortization for most of our products. We continuously review the
remaining useful lives of our identified intangible assets based on each
product family's estimated future cash flows. In the event that we do not
achieve the expected cash flows from any of our products or lose market
exclusivity for any of our products as a result of the expiration of a patent,
the expiration of FDA exclusivity or the launch of a competing generic
product, we may accelerate amortization or record an impairment charge and
write-down the value of the related intangible asset. We expect our 2012
amortization expense to decline compared to 2011 as most of our intangible
assets are amortized on an accelerated basis.

Net Interest Expense

Net interest expense for the quarter ended September30, 2012 was $65 million,
an increase of $2 million, or 3%, from $63 million in the prior year quarter.
Included in net interest expense in the quarter ended September30, 2012 was
$11 million relating to the write-off of deferred loan costs in connection
with the amendment to the credit agreement governing our Initial Senior
Secured Credit Facilities in August 2012. Included in net interest expense in
the quarter ended September30, 2011 was $4 million relating to the write-off
of deferred loan costs associated with $150 million of optional prepayments of
term loans under our Senior Secured Credit Facilities. Excluding these
write-offs of deferred loan costs, net interest expense decreased $5 million
in the quarter ended September30, 2012 relative to the prior year quarter.
The decrease was due in large part to a decrease in our average outstanding
indebtedness relative to the same period in 2011. The decrease in our average
outstanding indebtedness was due to optional prepayments and repayments of
term debt made during 2011 and in the first half of 2012, offset, in part, by
$600 million of Additional Term Loan Facilities in August 2012.

Net Income, Cash Net Income and Adjusted Cash Net Income

For the quarter ended September30, 2012, we reported net income of $113
million, or $0.45 per diluted share, CNI of $241 million, and adjusted CNI of
$247 million, or $0.99 per diluted share. Our earnings per share calculation
for the quarter was based on 250.6million diluted ordinary shares
outstanding. In calculating CNI, we add back the after-tax impact of the
amortization (including impairments) of intangible assets and the amortization
(including write-offs) of deferred loan costs related to our debt. These items
are tax-effected at the estimated marginal rates attributable to them. In the
quarter ended September30, 2012, the marginal tax rate associated with the
amortization and impairment of intangible assets was 5.4% and the marginal tax
rate for the amortization (including write-offs) of deferred loan costs was
12.3%. In calculating adjusted CNI in the quarter ended September 30, 2012, we
added back the after-tax impact of a litigation-related charge of $6 million.

Liquidity, Balance Sheet and Cash Flows

As of September30, 2012, our cash on hand was $304 million and our total
outstanding debt was $4,018 million, which consisted of $2,761 million of term
loan borrowings under our Senior Secured Credit Facilities, $1,250 million
aggregate principal amount of 7.75% senior notes due 2018 (the "7.75% Notes"),
and $7 million of unamortized premium related to the 7.75% Notes. We generated
$184 million of cash from operating activities in the quarter ended
September30, 2012, compared with $251 million of cash from operating
activities in the prior year quarter, a decrease of $67 million, due primarily
to the timing of movements in working capital.

2012 Financial Guidance Update

Based on our third quarter results and the current outlook for the remainder
of 2012, we are raising our estimate of adjusted CNI per share by $0.20 from a
range of $3.55 to $3.65 to a range of $3.75 to $3.85. The increase is the
result of lower than expected SG&A and R&D expenses, as well as a lower than
expected cash income tax provision and, consequently we are updating our
guidance ranges for SG&A expenses, R&D expenses, total income tax provision
and GAAP net income, as well as expected adjusted CNI and adjusted CNI per
share. Adjusted CNI adds back to CNI the after-tax charges expected to be
incurred in connection with (i)our Western European restructuring charges,
less pension-related curtailment gains, (ii)a litigation-related charge and
(iii)the impact of a gain from the reversal of a liability for contingent
milestone payments. For a complete overview of our updated full year 2012
guidance, please refer to the table on the last page of this press release.

Investor Conference Call

We are hosting a conference call open to all interested parties on Friday,
November9, 2012 beginning at 8:00 AM ET. The number to call within the United
States and Canada is (877)354-4056. Participants outside the United States
and Canada should call (678)809-1043. A replay of the conference call will be
available for two weeks following the call and can be accessed by dialing
(800)585-8367 from within the United States and Canada or (404)537-3406 from
outside the United States and Canada. The passcode ID number for the replay is
43144021.

The Company

Warner Chilcott is a leading specialty pharmaceutical company currently
focused on the women's healthcare, gastroenterology, urology and dermatology
segments of the branded pharmaceuticals market, primarily in North America. We
are a fully integrated company with internal resources dedicated to the
development, manufacture and promotion of our products. WCRX-F

Forward Looking Statements

This press release contains forward-looking statements, including statements
concerning our industry, our operations, our anticipated financial performance
and financial condition, and our business plans and growth strategy and
product development efforts. These statements constitute forward-looking
statements within the meaning of Section27A of the Securities Act of 1933 and
Section21E of the Securities Exchange Act of 1934. The words "may," "might,"
"will," "should," "estimate," "project," "plan," "anticipate," "expect,"
"intend," "outlook," "believe" and other similar expressions are intended to
identify forward-looking statements. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of their
dates. These forward-looking statements are based on estimates and assumptions
by our management that, although we believe to be reasonable, are inherently
uncertain and subject to a number of risks and uncertainties. The following
represent some, but not necessarily all, of the factors that could cause
actual results to differ from historical results or those anticipated or
predicted by our forward-looking statements: our substantial indebtedness,
including increases in the LIBOR rates on our variable-rate indebtedness above
the applicable floor amounts; competitive factors in the industry in which we
operate, including the approval and introduction of generic or branded
products that compete with our products; our ability to protect our
intellectual property; a delay in qualifying any of our manufacturing
facilities that produce our products, production or regulatory problems with
either our own manufacturing facilities or third party manufacturers,
packagers or API suppliers upon whom we may rely for some of our products or
other disruptions within our supply chain; pricing pressures from
reimbursement policies of private managed care organizations and other third
party payors, government sponsored health systems, and the continued
consolidation of the distribution network through which we sell our products;
changes in tax laws or interpretations that could increase our consolidated
tax liabilities; government regulation, including U.S. and foreign health care
reform, affecting the development, manufacture, marketing and sale of
pharmaceutical products, including our ability and the ability of companies
with whom we do business to obtain necessary regulatory approvals; adverse
outcomes in our outstanding litigation or arbitration matters or an increase
in the number of litigation matters to which we are subject; the loss of key
senior management or scientific staff; our ability to manage the growth of our
business by successfully identifying, developing, acquiring or licensing new
products at favorable prices and marketing such new products; our ability to
obtain regulatory approval and customer acceptance of new products, and
continued customer acceptance of our existing products; and the other risks
identified in our periodic filings including our Annual Report on Form 10-K
for the year ended December31, 2011, and from time-to-time in our other
investor communications.

We caution you that the foregoing list of important factors is not exclusive.
In addition, in light of these risks and uncertainties, the matters referred
to in our forward-looking statements may not occur. We undertake no obligation
to publicly update or revise any forward-looking statement as a result of new
information, future events or otherwise, except as may be required by law.

Reconciliations to GAAP Net Income

CNI and Adjusted CNI

To supplement our condensed consolidated financial statements presented in
accordance with U.S.GAAP, we provide a summary to show the computation of CNI
and adjusted CNI. CNI is defined as our GAAP net income adjusted for the
after-tax effects of two non-cash items: amortization (including impairments,
if any) of intangible assets and amortization (including write-offs, if any)
of deferred loan costs related to our debt. Adjusted CNI represents CNI as
further adjusted to exclude certain after-tax impacts from the Western
European restructuring, the repurposing of our Manati facility, a
litigation-related charge and the impact of a gain from the reversal of a
liability for contingent milestone payments. We did not recognize a tax
benefit as a result of the repurposing of the Manati facility. We believe that
the presentation of CNI and adjusted CNI provides useful information to both
management and investors concerning the approximate impact of the above items.
We also believe that considering the effect of these items allows management
and investors to better compare our financial performance from
period-to-period, and to better compare our financial performance with that of
our competitors. The presentation of this additional information is not meant
to be considered in isolation of, or as a substitute for, results prepared in
accordance with U.S. GAAP.

Adjusted EBITDA

To supplement our condensed consolidated financial statements presented in
accordance with U.S.GAAP, we provide a summary to show the computation of
Adjusted EBITDA taking into account certain charges that were taken during the
quarters and nine months ended September30, 2012 and 2011. The computation of
Adjusted EBITDA is based on the definition of Adjusted EBITDA contained in our
Senior Secured Credit Facilities.

                                                                    
WARNER CHILCOTT PUBLIC LIMITED COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions of U.S. dollars, except per share amounts)
(Unaudited)

                      Quarter Ended               Nine Months Ended
                      September30, September30, September30, September30,
                       2012          2011          2012          2011
REVENUE                                                       
Net sales              $591        $635         $1,879       $2,014
Other revenue          15          20           50           68
Total revenue          606         655          1,929        2,082
COSTS, EXPENSES AND                                           
OTHER
Cost of sales
(excludes amortization 79          81           221          280
of intangible assets)
Selling, general and   183         216          554          717
administrative
Restructuring costs    —          45           50           104
Research and           25          26           73           82
development
Amortization of        122         148          376          443
intangible assets
Impairment of          —          —           106          —
intangible assets
Interest expense, net  65          63           179          283
INCOME BEFORE TAXES    132         76           370          173
Provision for income   19          43           91           92
taxes
NET INCOME             $113        $33          $279         $81
Earnings per share:                                           
Basic                  $0.46       $0.13        $1.12        $0.32
Diluted                $0.45       $0.13        $1.11        $0.32
Dividends per share    $4.00       $—          $4.00        $—
                                                             
RECONCILIATIONS:                                              
GAAP Net income        $113        $33          $279         $81
+ Amortization and
impairment of          115         142          460          422
intangible assets, net
of tax
+ Amortization and
write-off of deferred  13          10           29           100
loan costs, net of tax
CASH NET INCOME        $241        $185         $768         $603
Non-recurring,
one-time charges                                              
included above:
+ Western European
restructuring costs,   —          44           42           100
net of tax
+ Charges relating to
the Manati             —          —           —           31
repurposing, net of
tax.
+ Litigation-related   6           —           6            —
charge, net of tax
+ Gain on reversal of
a liability for        —          —           (20)         —
contingent milestone
payments, net of tax
ADJUSTED CASH NET      $247        $229         $796         $734
INCOME



WARNER CHILCOTT PUBLIC LIMITED COMPANY
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions of U.S. dollars)
(Unaudited)

                                         As of              As of
                                         September30,2012 December31,2011
ASSETS                                                      
Current assets:                                             
Cash and cash equivalents                 $304              $616
Accounts receivable, net                  315               266
Inventories, net                          123               119
Prepaid expenses and other current assets 269               231
Total current assets                      1,011             1,232
Other assets:                                               
Property, plant and equipment, net        208               215
Intangible assets, net                    1,938             2,420
Goodwill                                  1,029             1,029
Other non-current assets                  132               134
TOTAL ASSETS                              $4,318            $5,030
                                                           
LIABILITIES                                                 
Current liabilities:                                        
Accounts payable                          $46               $54
Accrued expenses and other current        727               862
liabilities
Current portion of long-term debt         172               185
Total current liabilities                 945               1,101
Other liabilities:                                          
Long-term debt, excluding current portion 3,846             3,678
Other non-current liabilities             187               182
Total liabilities                         4,978             4,961
SHAREHOLDERS' (DEFICIT) / EQUITY          (660)             69
TOTAL LIABILITIES AND SHAREHOLDERS'       $4,318            $5,030
(DEFICIT) / EQUITY

                                                                    

WARNER CHILCOTT PUBLIC LIMITED COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions of U.S. dollars)
(Unaudited)

                      Quarter Ended               Nine Months Ended
                      September30, September30, September30, September30,
                       2012          2011          2012          2011
CASH FLOWS FROM                                               
OPERATING ACTIVITIES
Net income             $113         $33         $279         $81
Adjustments to
reconcile net income
to net cash provided                                          
by operating
activities:
Depreciation           8            11          27           29
Write-down of
property, plant and    —           —          —           23
equipment
Amortization of        122          148         376          443
intangible assets
Impairment of          —           —          106          —
intangible assets
Non-cash gain relating
to the reversal of the
liability for          —           —          (20)         —
contingent milestone
payments
Amortization and
write-off of deferred  15           10          32           105
loan costs
Stock-based            5            7           17           19
compensation expense
Changes in assets and                                         
liabilities:
(Increase) / decrease
in accounts
receivable, prepaid    (33)         (16)         (38)         55
expenses and other
current assets
Decrease / (increase)  7            (7)          (4)          4
in inventories
(Decrease) / increase
in accounts payable,
accrued expenses and   (34)         46          (179)        14
other current
liabilities
(Decrease) / increase
in income taxes and    (19)         19          (48)         10
other,net
Net cash provided by   $184         $251        $548         $783
operating activities
CASH FLOWS FROM                                               
INVESTING ACTIVITIES
Capital expenditures   (6)          (8)          (23)         (36)
Net cash (used in)     $(6)         $(8)         $(23)        $(36)
investing activities
CASH FLOWS FROM                                               
FINANCING ACTIVITIES
Cash dividends paid    (955)        —          (955)        —
Term borrowings under
Senior Secured Credit  600          —          600          3,000
Facilities
Payments for loan
costs, including       (15)         —          (15)         (51)
refinancing premium
Term repayments under
Prior Senior Secured   —           —          —           (3,419)
Credit Facilities
Term repayments under
Senior Secured Credit  (35)         (182)        (444)        (368)
Facilities
Redemption of ordinary —           —          (32)         —
shares
Proceeds from the
exercise of
non-qualified options  —           1           8            5
to purchase ordinary
shares
Net cash (used in)     $(405)       $(181)       $(838)       $(833)
financing activities
Effect of exchange
rates on cash and cash 1            (8)          1            —
equivalents
Net (decrease) /
increase in cash and   (226)        54          (312)        (86)
cash equivalents
Cash and cash
equivalents, beginning 530          262         616          402
of period
Cash and cash
equivalents, end of    $304         $316        $304         $316
period
SCHEDULE OF NON-CASH                                          
ACTIVITIES:
Increase in
liabilities related to $47          $—         $47          $—
the 2012 Special
Dividend



WARNER CHILCOTT PUBLIC LIMITED COMPANY
Reconciliation of Net Income to Adjusted EBITDA
(In millions of U.S. dollars)
(Unaudited)

                  Quarter Ended                 Nine Months Ended
                  September30,  September30,  September30,  September30,
                   2012           2011           2012           2011
RECONCILIATION TO                                            
ADJUSTED EBITDA:
Net income - GAAP  $113          $33           $279          $81
+ Interest
expense, as        65            63            179           283
defined
+ Provision for    19            43            91            92
income taxes
+ Non-cash
stock-based        5             7             17            19
compensation
expense
+ Depreciation     8             11            27            29
+ Amortization of  122           148           376           443
intangible assets
+ Impairment of    —            —            106           —
intangible assets
+ R&D milestone    —            —            2             —
expense
+ Non-cash gain
relating to the
reversal of the    —            —            (20)          —
liability for
contingent
milestone payments
+ Restructuring    —            45            50            104
costs
+ Write-down of
property, plant    —            —            —            23
and equipment
+ Other permitted  6             2             6             13
add-backs
Adjusted EBITDA of $338          $352          $1,113        $1,087
WC plc, as defined
+ Expenses of WC   3             —            12            3
plc and other
Adjusted EBITDA of
Warner Chilcott
Holdings Company   $341          $352          $1,125        $1,090
III, Limited, as
defined

Note: Warner Chilcott Holdings Company III, Limited and certain of its
subsidiaries are parties to our Senior Secured Credit Facilities. Warner
Chilcott plc is not a party to this agreement. Certain expenses included in
Warner Chilcott plc's consolidated operating results are not deducted in
arriving at Adjusted EBITDA for Warner Chilcott Holdings Company III, Limited
and its subsidiaries.

                                                                    

WARNER CHILCOTT PUBLIC LIMITED COMPANY
REVENUE BY PRODUCT
(In millions of U.S. dollars)
(Unaudited)

                   Quarter Ended                 Nine Months Ended
                   September30,  September30,  September30,  September30,
                    2012           2011           2012           2011
Women's Healthcare:                                           
Osteoporosis                                                  
ACTONEL^(1)         $119          $166          $415          $591
ATELVIA             19            11            51            20
Total Osteoporosis  138           177           466           611
Oral Contraceptives                                           
LOESTRIN 24 FE      95            104           300           325
LO LOESTRIN FE      33            23            95            42
Other Oral          3             3             13            15
Contraceptives
Total Oral          131           130           408           382
Contraceptives
Hormone Therapy                                               
ESTRACE Cream       45            42            143           115
Other Hormone       11            9             32            34
Therapy
Total Hormone       56            51            175           149
Therapy
Other women's       12            15            41            50
healthcare products
Total Women's       337           373           1,090         1,192
Healthcare
                                                             
Gastroenterology:                                             
ASACOL              191           190           589           565
Urology:                                                      
ENABLEX             45            45            130           130
Dermatology:                                                  
DORYX               20            29            73            127
Other:                                                        
Other products net  8             11            32            44
sales
Contract
manufacturing       2             5             8             15
product sales
Other revenue^(2)   3             2             7             9
Total Revenue       $606          $655          $1,929        $2,082

(1) Includes "other revenue" of $12 million and $18 million for the quarters
ended September30, 2012 and 2011, respectively, and $43 million and $59
million for the nine months ended September30, 2012 and 2011, respectively,
as reported in our condensed consolidated statement of operations resulting
from the collaboration agreement with Sanofi-Aventis U.S. LLC.
(2) Excludes "other revenue" of $12 million and $18 million for the quarters
ended September30, 2012 and 2011, respectively, and $43 million and $59
million for the nine months ended September30, 2012 and 2011, respectively,
as reported in our condensed consolidated statement of operations resulting
from the collaboration agreement with Sanofi-Aventis U.S. LLC.



WARNER CHILCOTT PUBLIC LIMITED COMPANY
SUMMARY OF SG&A EXPENSES
(In millions of U.S. dollars)
(Unaudited)

                        QuarterEnded      QuarterEnded
                         September30,2012 September30,2011
A&P                      $20               $32
Selling and Distribution 96                130
G&A                      67                54
Total SG&A               $183              $216
                                          
                        NineMonthsEnded  NineMonthsEnded
                         September30, 2012 September 30, 2011
A&P                      $69               $118
Selling and Distribution 310               392
G&A                      175               207
Total SG&A               $554              $717



WARNER CHILCOTT PUBLIC LIMITED COMPANY
2012 Full Year Financial Guidance
(In millions of U.S. dollars, except per share amounts)
                                             
                  Prior Guidance              Current Guidance
                   August 2012                 November 2012 ^(1)
Total Revenue      $ 2,400to2,500            $ 2,400to2,500
Gross Margin as a  88%to89%                  88%to 89%^(2)
% of Total Revenue
Total SG&A
Expenses, as       $ 775 to 825                $ 725 to 775^(3)
Adjusted
Total R&D Expenses $ 100 to 120                $ 90 to 110
Total Income Tax   12%-13%ofAdjustedEBTA    11%-12%ofAdjustedEBTA^(4)
Provision
GAAP Net Income    $ 265 to 290                $ 307 to 332
Adjusted CNI       $ 891 to 916                $ 941 to 966^(5)
Adjusted CNI per   $ 3.55 to 3.65              $ 3.75 to 3.85^(5)(6)
share

(1) The 2012 guidance assumes that generic equivalents of the Company's
ASACOL 400 mg and ESTRACE Cream products will not be approved and enter the
U.S. market during 2012. Any change in such assumptions would be likely to
negatively impact our revenues. The guidance does not account for the impact
of futureacquisitions, dispositions, partnerships, in-license transactions or
any changes to the Company's existing capital structure, partnerships or
in-license transactions.
(2) Gross margin as a percentage of total revenue excludes amortization and
impairments of intangible assets.
(3) Total SG&A expense, as adjusted, does not include (i)a gain relating to
the reversal of a liability for contingent milestone payments ($20 million)
and (ii)any amount that may be payable in connection with the potential
adjudication or settlement of the Company's outstanding litigations (including
a litigation-related charge ($6 million)).
(4) The 2012 total income tax provision is estimated as a percentage of
earnings before taxes and book amortization (EBTA).
(5) A reconciliation of 2012 expected GAAP net income to expected adjusted
CNI adds back the expected after tax impact of (i)the amortization and
impairment of intangibles ($575 million), (ii)the impact of the amortization
and write-offs of deferred loan costs ($32 million), (iii)the impact of the
Western European restructuring costs less expected pension-related curtailment
gains ($41 million), (iv)the impact of a litigation-related charge ($6
million) and (v)the gain relating to the reversal of the liability for
contingent milestone payments ($20 million).
(6) Expected adjusted CNI per share is based on 251million fully diluted
ordinary shares. The 2012 calculation of fully diluted ordinary shares
includes the impact of ordinary shares redeemed through September30, 2012.
The 2012 calculation does not include the impact of any ordinary shares that
may be redeemed after September30, 2012 pursuant to the Current Redemption
Program or otherwise.

CONTACT: Rochelle Fuhrmann
         Investor Relations
         973-442-3281
         rfuhrmann@wcrx.com

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