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Actavis to Acquire Warner Chilcott to Create Premier $11 Billion Revenue Global Specialty Pharmaceutical Company

   Actavis to Acquire Warner Chilcott to Create Premier $11 Billion Revenue
                   Global Specialty Pharmaceutical Company

  PR Newswire

  PARSIPPANY, New Jersey and DUBLIN, May 20, 2013

- Top 3 U.S. ~$3.0 Billion Revenue Specialty Brand Business -

- Expands Portfolio and Pipeline in Core Areas of Women's Health and Urology -

- Adds Gastroenterology and Dermatology Franchises and Infrastructure -

- Stronger Commercial Presence to Support Expanded Brand Pipeline -

- Immediately Accretive With Opportunities for Substantial Operational
Synergies and Tax Savings -

- Combination Expected to Generate Strong EBITDA and Cash from Operations -

- All Stock Transaction Further Enables Rapid Deleveraging -

- Anticipate Closing by Year End 2013, Pending Approvals -

PARSIPPANY, New Jersey and DUBLIN, May 20, 2013 /PRNewswire/ -- Actavis, Inc.
(NYSE: ACT) and Warner Chilcott plc (NASDAQ: WCRX) today announced they have
entered into a definitive agreement under which Actavis will acquire Warner
Chilcott plc in a stock-for-stock transaction valued at approximately $8.5
billion. If successfully completed, the transaction will create a leading
global specialty pharmaceutical company with approximately $11 billion in
combined annual revenue, and the third-largest U.S. specialty pharmaceutical
company with approximately $3 billion in annual revenues focused on core
therapeutic categories of Women's Health, Gastroenterology, Urology and
Dermatology. The proposed transaction has been unanimously approved by the
Boards of Directors of Actavis, Inc. and Warner Chilcott plc, and is supported
by the management teams of both companies.

"We have set as our strategic corporate objective to build a leading global
specialty pharmaceutical company," said Paul Bisaro, President and CEO of
Actavis. "The combination of Actavis and Warner Chilcott creates a strong
specialty brand portfolio focused in therapeutic categories with strong growth
potential, and is supported by a deep pipeline of development programs. The
combination is commercially and financially compelling, and reshapes the
specialty pharmaceutical universe by creating a powerful global competitor.
It creates a company with an exceptionally strong balance sheet, coupled with
a favorable tax structure to support future growth.

"Commercially, this transaction is unique in the combination of the
complementary strengths of our two companies," Bisaro added. "The combination
will enhance the value of each company's portfolio and provides a substantial
foundation to support the successful launch of new products over the next
several years, particularly in Women's Health, including Minastrin 24 Fe,
Esmya, metronidazole vaginal gel 1.5%, the progestin-only contraceptive patch
and other women's health products in development from the recent acquisition
of Uteron Pharma SA. It also provides an expanded portfolio of specialty
products that have the potential to be commercialized in key markets outside
of North America."

"The Warner Chilcott team has built a powerful specialty brands business with
a strong pipeline, and this compelling transaction brings together two
complementary organizations with the potential to create even more value for
shareholders," said Roger Boissonneault, President and CEO of Warner Chilcott.
"Paul Bisaro and his team have been executing on their vision to build a
global and diverse company at the forefront of the specialty pharmaceutical
industry, and the addition of Warner Chilcott should enhance the ability of
the combined company to successfully execute that vision, and accelerate
Actavis' evolution."

At the close of the transaction (the "Effective Date"), which is expected by
year-end 2013, Actavis and Warner Chilcott will be combined under a new
company incorporated in Ireland, where Warner Chilcott is currently
incorporated. The newly created company, which is expected to be called
Actavis plc, or a variant thereof ("New Actavis"), will be led by the current
Actavis leadership team.

Under the terms of the Transaction Agreement, at closing Warner Chilcott
shareholders will receive 0.160 shares of New Actavis for each Warner Chilcott
share they own, which equates to a value of $20.08 per Warner Chilcott share
based on Actavis' closing share price of $125.50 on May 17, 2013. This
represents a 43 percent premium compared to Warner Chilcott's volume-weighted
average trading price of $14.00 for the 30 day trading period ending on May 9,
2013 (the day before Warner Chilcott disclosed it was engaged in preliminary
discussions with Actavis) and a 34 per cent premium to the Warner Chilcott
closing share price on May 9, 2013 of $15.01. Based on the closing prices of
Actavis shares and Warner Chilcott shares on May 9, 2013 of $106.81 and $15.01
each respectively, the value of the consideration payable per Warner Chilcott
share would be $17.09 which would represent a premium of 14 per cent over the
Warner Chilcott closing share price on such date.

The transaction is expected to be tax-free, for U.S. federal income tax
purposes, to Warner Chilcott shareholders. Actavis shareholders will receive
one share of New Actavis for each Actavis share they own upon closing. The
transaction will be taxable, for U.S. federal income tax purposes, to Actavis
shareholders.

Immediately after the close of the transaction, Warner Chilcott shareholders
are expected to own approximately 23 percent of New Actavis. Shares of New
Actavis are expected to trade on the New York Stock Exchange under the ticker
symbol ACT.

Expanded Specialty Portfolio in Four Therapeutic Categories

  *The combined company will have a stronger foundation to market a
    complementary product portfolio in key specialty areas:

       *In Women's Health, with eight products including contraceptives,
         infertility treatments and hormone therapy products;
       *In Urology, with six marketed products for the treatment of
         overactive bladder, testosterone replacement, prostate cancer and
         benign prostatic hyperplasia (BPH);
       *In Gastroenterology, with two marketed products for the treatment of
         ulcerative colitis;
       *In Dermatology, with one marketed product and the expected commercial
         launch of a newly approved product in July 2013; and,
       *A R&D portfolio of more than 25 products in various stages of
         development, including 15 candidates in Women's Health.

  *The combined company will have the ability to grow through additional
    in-licensing opportunities within its key therapeutic categories.
  *The combination will also provide the opportunity to introduce a broader
    portfolio of new products in Actavis' expanded global footprint.

Financially Compelling

  *The Directors of Actavis and Warner Chilcott believe that the combined
    company will have annual revenues of approximately $11 billion.
  *The combination of Actavis and Warner Chilcott will result in Specialty
    Brand sales comprising approximately 25 percent of total combined company
    2013 revenues, when compared to approximately 7 percent for standalone
    Actavis.
  *The transaction is expected to be more than 30 percent accretive to
    Actavis non-GAAP earnings per share in 2014, including anticipated
    synergies.
  *More than $400 million in after-tax operational synergies and related cost
    reductions and tax savings are anticipated. The majority of savings are
    expected to be realized in 2014, with full effect during 2015. The
    majority ofthese are operational and this estimate excludes any revenue,
    manufacturing or interest rate synergies or savings.
  *The combination is expected to generate strong operating cash flow which
    would further enable the combined company to rapidly delever the balance
    sheet to below 3.0x debt to adjusted EBITDA at close.

Transaction Approval Process

The acquisition of Warner Chilcott by New Actavis will be effected by means of
a "scheme of arrangement" under Irish law pursuant to which New Actavis will
acquire all of the outstanding shares of Warner Chilcott from Warner Chilcott
shareholders in exchange for shares to be issued by New Actavis (the
"Acquisition"). The Acquisition will be subject to the terms and conditions to
be set forth in the scheme of arrangement document to be delivered to Warner
Chilcott shareholders.

To become effective, the Scheme of Arrangement will require, among other
things, the approval of a majority in number of Warner Chilcott shareholders,
present and voting either in person or by proxy at a special Warner Chilcott
shareholder meeting, representing 75 percent or more in value of Warner
Chilcott shares held by such holders. Following the requisite Warner Chilcott
shareholder approval being obtained, the sanction of the Irish High Court is
also required.

In addition, the transaction must be approved in a special meeting by
shareholders holding a majority of the outstanding Actavis common shares. The
transaction, which is unanimously recommended by the Boards of Directors of
both companies, is also subject to customary closing conditions, including the
receipt of certain regulatory approvals, as more particularly set out in
Appendix III of this announcement.

Conference Call

Actavis and Warner Chilcott will host a conference call to discuss the
transaction today at 8:00 AM EDT. The number to call from within the United
States is +1-877-251-7980, passcode 73978818. From international locations,
the conference call can be accessed at +1-706-643-1573 using the same
passcode. The call will also be webcast and can be accessed through the
companies' websites at www.wcrx.com and www.actavis.com . To access the
slides go to Actavis' Investor Relations Web site at http://ir.actavis.com ,
or directly at http://www.videonewswire.com/event.asp?id=94188  A replay of
the conference call will also be available by calling +1-800-585-8367 in the
U.S. or +1-404-537-3406 outside of the U.S., passcode 73978818.

About Actavis, Inc.

Actavis, Inc. (NYSE: ACT) is a global, integrated specialty pharmaceutical
company focused on developing, manufacturing and distributing generic, brand
and biosimilar products. Actavis has global headquarters in Parsippany, New
Jersey, USA.

Operating as Actavis Pharma, Actavis develops, manufactures and markets
generic, branded generic, legacy brands and Over-the-Counter (OTC) products in
more than 60 countries. Actavis Specialty Brands is Actavis' global branded
specialty pharmaceutical business focused in the Urology and Women's Health
therapeutic categories. Actavis Specialty Brands also has a portfolio of five
biosimilar products in development in Women's Health and Oncology. Actavis
Global Operations has more than 30 manufacturing and distribution facilities
around the world, and includes Anda, Inc., a U.S. pharmaceutical product
distributor.

For press release and other company information, visit Actavis' Web site at
http://www.actavis.com .

About Warner Chilcott

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.
Warner Chilcott is a fully integrated company with internal resources
dedicated to the development, manufacture and promotion of its products.

About New Actavis

New Actavis is a private limited company incorporated in Ireland, solely for
the purpose of effecting the transaction. Prior to the Effective Date, New
Actavis shall be converted, pursuant to the Irish Companies Acts, to a public
limited company. To date, New Actavis has not conducted any activities other
than those incidental to its formation and the execution of the Transaction
Agreement.

At closing under the Transaction Agreement, New Actavis will acquire, pursuant
to a "scheme of arrangement" under Irish law, all of the outstanding shares of
Warner Chilcott in exchange for shares to be issued by New Actavis (the
"Acquisition"). Warner Chilcott shareholders will receive 0.160 shares of New
Actavis for each Warner Chilcott share they own.

Simultaneously with and conditioned on the concurrent consummation of the
Acquisition, a wholly owned indirect subsidiary of New Actavis will merge with
and into Actavis, the separate corporate existence of the wholly-owned
subsidiary will cease and Actavis will continue as the surviving corporation.
At the Effective Date, all Actavis common shares will be cancelled and will
automatically be converted into the right to receive New Actavis Shares on a
one-for-one basis.

At and as of the Effective Date, it is expected that New Actavis will be a
publicly traded company listed on the NYSE under the ticker symbol ACT.

ENQUIRIES

Actavis Lisa DeFrancesco VP Investor Relations +1-862-261-7152

Charlie Mayr Chief Communications Officer +1-862-261-8030

BofA Merrill Lynch (financial advisor for Actavis) Chris Seiter Ivan
Farman +1-646-855-5000

Peter Bell Geoff Iles +44-(0)-20-7996-1000

Greenhill (financial advisor for Actavis) Rupert Hill
+44-(0)-20-7198-7410 Ashish Contractor +1-212-389-1537

Warner Chilcott Rochelle Fuhrmann Senior Vice President, Finance
+1-973-442-3281

Kevin Crissey Director, Investor Relations +1-973-907-7084

Deutsche Bank (financial advisor for Warner Chilcott) North America David
Levin Jason Haas +1-212-250-2500

UK & Ireland James Arculus James Maizels+44-(0)-20-7545-8000

Important Information for Investors and Shareholders

This communication does not constitute an offer to sell or the solicitation of
an offer to buy any securities or a solicitation of any vote or approval. New
Actavis will file with the Securities and Exchange Commission (the "SEC") a
registration statement on Form S-4, each of Actavis and Warner Chilcott will
file with the SEC a proxy statement and each of New Actavis, Actavis and
Warner Chilcott will file with the SEC other documents with respect to the
proposed transaction. In addition, a definitive proxy statement/prospectus
will be mailed to shareholders of Actavis and Warner Chilcott. INVESTORS AND
SECURITY HOLDERS OF ACTAVIS AND WARNER CHILCOTT ARE URGED TO READ THE
DEFINITIVE PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT WILL BE FILED
WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security
holders will be able to obtain free copies of the registration statement and
the proxy statement/prospectus (when available) and other documents filed with
the SEC by New Actavis, Actavis and Warner Chilcott through the website
maintained by the SEC at http://www.sec.gov . Copies of the documents filed
with the SEC by New Actavis and Actavis will be available free of charge on
Actavis' internet website at www.actavis.com or by contacting Actavis'
Investor Relations Department at +1-862-261-7488. Copies of the documents
filed with the SEC by Warner Chilcott will be available free of charge on
Warner Chilcott's internet website at www.wcrx.com or by contacting Warner
Chilcott's Investor Relations Department at +1-973-442-3200.

Actavis, Warner Chilcott, their respective directors and certain of their
executive officers may be considered participants in the solicitation of
proxies in connection with the proposed transaction. Information about the
directors and executive officers of Warner Chilcott is set forth in its Annual
Report on Form 10-K for the year ended December 31, 2012, which was filed with
the SEC on February 22, 2013, its Quarterly Report on Form 10-Q for the
quarter ended March 31, 2013, which was filed with the SEC on May 10, 2013,
its proxy statement for its 2013 annual meeting of stockholders, which was
filed with the SEC on April 5, 2013, and certain of its Current Reports on
Form 8-K, which were filed with the SEC on May 2, 2013 and May 8, 2013.
Information about the directors and executive officers of Actavis is set forth
in its Annual Report on Form 10-K for the year ended December 31, 2012, which
was filed with the SEC on February 28, 2013, its Quarterly Report on Form 10-Q
for the quarter ended March 31, 2013, which was filed with the SEC on May 7,
2013, its proxy statement for its 2013 annual meeting of stockholders, which
was filed with the SEC on March 29, 2013, and certain of its Current Reports
on Form 8-K, which were filed with the SEC on January 29, 2013 and May 13,
2013. Other information regarding the participants in the proxy solicitations
and a description of their direct and indirect interests, by security holdings
or otherwise, will be contained in the proxy statement/prospectus and other
relevant materials to be filed with the SEC when they become available.

Actavis Cautionary Statement Regarding Forward-Looking Statements

Statements contained in this communication that refer to Actavis' estimated or
anticipated future results or other nonhistorical facts are forward-looking
statements that reflect Actavis' current perspective of existing trends and
information as of the date of this communication. Forward looking statements
generally will be accompanied by words such as "anticipate," "believe,"
"plan," "could," "should," "estimate," "expect," "forecast," "outlook,"
"guidance," "intend," "may," "might," "will," "possible," "potential,"
"predict," "project," or other similar words, phrases or expressions. It is
important to note that Actavis' goals and expectations are not predictions of
actual performance. Actual results may differ materially from Actavis' current
expectations depending upon a number of factors affecting Actavis' business,
Warner Chilcott's business and risks associated with acquisition transactions.
These factors include, among others, the inherent uncertainty associated with
financial projections; restructuring in connection with, and successful close
of, the Warner Chilcott acquisition; subsequent integration of the Warner
Chilcott acquisition and the ability to recognize the anticipated synergies
and benefits of the Warner Chilcott acquisition; the receipt of required
regulatory approvals for the transaction (including the approval of antitrust
authorities necessary to complete the acquisition); the anticipated size of
the markets and continued demand for Actavis' and Warner Chilcott's products;
the impact of competitive products and pricing; access to available financing
(including financing for the Warner Chilcott acquisition) on a timely basis
and on reasonable terms; maintaining a position in the Standard & Poor's 500;
the risks of fluctuations in foreign currency exchange rates; the risks and
uncertainties normally incident to the pharmaceutical industry, including
product liability claims and the availability of product liability insurance;
the difficulty of predicting the timing or outcome of pending or future
litigation or government investigations; periodic dependence on a small number
of products for a material source of net revenue or income; variability of
trade buying patterns; changes in generally accepted accounting principles;
risks that the carrying values of assets may be negatively impacted by future
events and circumstances; the timing and success of product launches; the
difficulty of predicting the timing or outcome of product development efforts
and regulatory agency approvals or actions, if any; market acceptance of and
continued demand for Actavis' and Warner Chilcott's products; costs and
efforts to defend or enforce intellectual property rights; difficulties or
delays in manufacturing; the availability and pricing of third party sourced
products and materials; successful compliance with governmental regulations
applicable to Actavis' and Warner Chilcott's facilities, products and/or
businesses; changes in the laws and regulations, affecting among other things,
pricing and reimbursement of pharmaceutical products; changes in tax laws or
interpretations that could increase Actavis' consolidated tax liabilities; the
loss of key senior management or scientific staff; and such other risks and
uncertainties detailed in Actavis' periodic public filings with the Securities
and Exchange Commission, including but not limited to Actavis' Annual Report
on form 10-K for the year ended December 31, 2012 and from time to time in
Actavis' other investor communications. Except as expressly required by law,
Actavis disclaims any intent or obligation to update or revise these
forward-looking statements.

Warner Chilcott Cautionary Statement Regarding Forward-Looking Statements

This communication contains forward-looking statements, including statements
concerning the proposed transaction with Actavis, our industry, our
operations, our anticipated financial performance and financial condition and
our business plans, growth strategy and product development efforts. These
statements constitute forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E 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: the timing to consummate the proposed transaction with Actavis;
the risk that a condition to closing of the proposed transaction with Actavis
may not be satisfied; the risk that a regulatory approval that may be required
for the proposed transaction with Actavis is delayed, is not obtained or is
obtained subject to conditions that are not anticipated; New Actavis' ability
to achieve the synergies and value creation contemplated by the proposed
acquisition; New Actavis' ability to promptly and effectively integrate
Actavis' and Warner Chilcott's businesses; the diversion of management time on
transaction-related issues; our substantial indebtedness, including increases
in the LIBOR rates on our variable-rate indebtedness above the applicable
floor amounts; competitive factors and market conditions 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 those of 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 regulatory reforms, 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, regulatory investigations or
arbitration matters or an increase in the number of such 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 December 31, 2012,
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.

Statement Required by the Irish Takeover Rules

The directors of Actavis accept responsibility for the information contained
in this announcement other than that relating to Warner Chilcott and its
Associates and the directors of Warner Chilcott and members of their immediate
families, related trusts and persons connected with them. To the best of the
knowledge and belief of the directors of Actavis (who have taken all
reasonable care to ensure that such is the case), the information contained in
this announcement for which they accept responsibility is in accordance with
the facts and does not omit anything likely to affect the import of such
information.

The directors of Warner Chilcott accept responsibility for the information
contained in this announcement relating to Warner Chilcott and its Associates
and the directors of Warner Chilcott and members of their immediate families,
related trusts and persons connected with them. To the best of the knowledge
and belief of the directors of Warner Chilcott (who have taken all reasonable
care to ensure such is the case), the information contained in this
announcement for which they accept responsibility is in accordance with the
facts and does not omit anything likely to affect the import of such
information.

Bank of America Merrill Lynch and Greenhill are acting as joint financial
advisers to Actavis and New Actavis and no one else in connection with the
Acquisition and will not be responsible to anyone other than Actavis and New
Actavis for providing the protections afforded to clients of Bank of America
Merrill Lynch and Greenhill or for providing advice in relation to the
acquisition of Warner Chilcott, the contents of this announcement or any
transaction or arrangement referred to herein.

Deutsche Bank Securities Inc. is acting exclusively for Warner Chilcott as
financial advisor and is not acting as financial advisor to anyone else in
connection with the matters referred to in this announcement and will not be
responsible to anyone other than Warner Chilcott in connection therewith for
providing advice in relation to the matters referred to in this announcement.
Deutsche Bank Securities Inc. has delegated certain of its financial advisory
functions and responsibilities to Deutsche Bank AG, acting through its London
branch. Deutsche Bank AG, acting through its London branch is performing such
delegated functions and responsibilities exclusively for Warner Chilcott and
is not acting as a financial adviser for any other person in connection with
the matters referred to in this announcement and will not be responsible to
any such other person for providing advice in relation to the matters referred
to in this announcement. Deutsche Bank AG is authorised under German Banking
Law (competent authority: BaFin – Federal Financial Supervisory Authority) and
authorised and subject to limited regulation by the Financial Conduct
Authority. Details about the extent of Deutsche Bank AG's authorization and
regulation by the Financial Conduct Authority are available on request.

Dealing Disclosure Requirements

Under the provisions of Rule 8.3 of the Irish Takeover Panel Act, 1997,
Takeover Rules 2007, as amended (the "Irish Takeover Rules"), if any person
is, or becomes, 'interested' (directly or indirectly) in, 1% or more of any
class of 'relevant securities' of Warner Chilcott or Actavis, all 'dealings'
in any 'relevant securities' of Warner Chilcott or Actavis (including by means
of an option in respect of, or a derivative referenced to, any such 'relevant
securities') must be publicly disclosed by not later than 3:30 p.m. (Dublin
time) on the business day following the date of the relevant transaction. This
requirement will continue until the date on which the Scheme becomes effective
or on which the 'offer period' otherwise ends. If two or more persons
co-operate on the basis of any agreement, either express or tacit, either oral
or written, to acquire an 'interest' in 'relevant securities' of Warner
Chilcott or Actavis, they will be deemed to be a single person for the purpose
of Rule 8.3 of the Irish Takeover Rules.

Under the provisions of Rule 8.1 of the Irish Takeover Rules, all 'dealings'
in 'relevant securities' of Warner Chilcott by Actavis or 'relevant
securities' of Actavis by Warner Chilcott, or by any of their respective
'associates' must also be disclosed by no later than 12 noon (Dublin time) on
the 'business' day following the date of the relevant transaction.

A disclosure table, giving details of the companies in whose 'relevant
securities' 'dealings' should be disclosed, can be found on the Irish Takeover
Panel's website at www.irishtakeoverpanel.ie .

'Interests in securities' arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an 'interest' by
virtue of the ownership or control of securities, or by virtue of any option
in respect of, or derivative referenced to, securities.

Terms in quotation marks are defined in the Irish Takeover Rules, which can
also be found on the Irish Takeover Panel's website. If you are in any doubt
as to whether or not you are required to disclose a dealing under Rule 8,
please consult the Irish Takeover Panel's website at www.irishtakeoverpanel.ie
or contact the Irish Takeover Panel on telephone number +353-1-678-9020 or fax
number +353-1-678-9289.

No Profit Forecast / Asset Valuations

No statement in this announcement constitutes a profit forecast for any
period, nor should any statement be interpreted to mean that earnings or
earnings per share will necessarily be greater or lesser than those for the
relevant preceding financial periods for Actavis or Warner Chilcott or New
Actavis as appropriate. No statement in this announcement constitutes an asset
valuation.Any synergy or earnings enhancement statements in this announcement
should not be construed as a profit forecast or interpreted to mean that New
Actavis' earnings in the first full year following the Acquisition, or in any
subsequent period, would necessarily match or be greater than or be less than
those of Actavis and/or Warner Chilcott for the relevant financial period or
any other period. The bases and assumptions for synergy numbers set out in
Appendix1 of the Rule 2.5 announcement have been reported in accordance with
Rule 19.3 (b) of the Irish Takeover Rules.

General

This release should be read in conjunction with the full text of the Rule 2.5
Announcement issued by Actavis and Warner Chilcott on May 20, 2013. Appendix I
to the Rule 2.5 Announcement contains further details of the sources of
information and bases of calculations set out in the Rule 2.5 Announcement;
Appendix II to the Rule 2.5 Announcement contains definitions of certain
expressions used in this release and in the Rule 2.5 Announcement; Appendix
III to the Rule 2.5 Announcement contains the Conditions of the Acquisition
and the Scheme; and Appendix IV sets out the reports from
PricewaterhouseCoopers and Greenhill & Co and Bank of America Merrill Lynch in
respect of certain merger benefit statements made in the Rule 2.5
Announcement.

The release, publication or distribution of this announcement in or into
certain jurisdictions may be restricted by the laws of those jurisdictions.
Accordingly, copies of this announcement and all other documents relating to
the Acquisition are not being, and must not be, released, published, mailed or
otherwise forwarded, distributed or sent in, into or from any Restricted
Jurisdiction. Persons receiving such documents (including, without limitation,
nominees, trustees and custodians) should observe these restrictions. Failure
to do so may constitute a violation of the securities laws of any such
jurisdiction. To the fullest extent permitted by applicable law, the companies
involved in the proposed Acquisition disclaim any responsibility or liability
for the violations of any such restrictions by any person.

Any response in relation to the Acquisition should be made only on the basis
of the information contained in the Scheme Circular or any document by which
the Acquisition and the Scheme are made. Actavis Shareholders and Warner
Chilcott Shareholders are advised to read carefully the formal documentation
in relation to the proposed transaction once the Scheme Circular has been
dispatched.

Pursuant to Rule 2.6(c) of the Irish Takeover Rules, the Rule 2.5 Announcement
will be available to Actavis employees on Actavis' website ( www.actavis.com )
and Warner Chilcott employees on Warner Chilcott's website ( www.wcrx.com ).

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR
FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

CONTACTS: Actavis: Investors: Lisa DeFrancescoVP Investor
Relations+1-862-261-7152

Media: Charlie MayrChief Communications Officer+1-862-261-8030

Warner Chilcott: Rochelle FuhrmannSVP, Finance+1-973-442-3281

Kevin CrisseyDirector, Investor Relations+1-973-907-7084

(Logo: http://photos.prnewswire.com/prnh/20130124/NY47381LOGO )

Website: http://www.actavis.com
 
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