Warner Chilcott Falls in Debut

09/21/06 - 03:58 PM EDT

Althea Chang

Warner Chilcott(WCRX Quote), a developer of women's health products, has priced its initial public offering of 70.6 million shares at $15 each, below its expected range of $17 to $19 a share.

Shares of Warner Chilcott were lower near the end of their first trading day, falling 15 cents, or 1%, to $14.85.

After deducting underwriting discounts, commissions and other expenses, proceeds are expected to be around $1 billion, or $193.1 million less than the company had hoped to raise.

Warner Chilcott, a maker of contraceptives and hormone therapies, as well as dermatologic drugs for psoriasis and acne, expects to launch the first Food and Drug Administration-approved chewable oral contraceptive, Ovcon 35 Fe, this month.

Your Recent Quotes: Quote Up0 | Quote Down0
 
Dow S&P 500 NASDAQ
Oil*
65.43
8,280.74
896.42
1,796.52
10 Yr
3.50%
223.32
26.91
49.20
-2.63%
-2.91%
-2.67%
Data delayed 20 min
Get Jim Cramer's Free Newsletter

The Daily Booyah!
Get your daily dose of Cramer in your inbox.
Submit
We respect your privacy.

Premium Stock Ideas
Access Action Alerts Plus to find out Cramer's latest picks now!

Brokerage Partners