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Warner Chilcott's CEO Discusses Q2 2012 Results - Earnings Call Transcript

I know that many of you are interested in the status of our review of strategic alternatives. We do not have any specific to share with you this morning. And we’ll just assure you that we continue to explore a broad range of strategic alternatives to enhance shareholder value. We believe in the fundamentals of our company. We continue to look for opportunities that could help us to strengthen and grow our business going forward.

In summary, one of the most important things we can do to deliver value is to drive the profitability of our current product portfolio. And I believe that over the first half of 2012, we have done a good job. We are gaining total RX share in the OC segment and the ASACOL franchise is a solid contributor to the bottom line.

Our promotional focus on key projects, the steps we took last year to restructure our Western European business and our continued effort to optimize our investment in U.S. sales force resources have enabled us to overcome the expected decline of ACTONEL net sales and the loss of exclusivity for DORYX 150 milligram products and still deliver growth in adjusted cash net income.

Let me turn it back to Paul to provide more details about our financial performance.

Paul Herendeen

Thanks, Roger. And starting at a high level, good quarter. We continued to do what we do best, which is to generate solid cash and income from our portfolio of marketed products. Total revenue in the quarter was in line with our expectations, while our gross profit margin was a bit better than expected in the quarter.

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