Warner Chilcott Ltd.’s (Warner Chilcott) common stock experienced a significant decline of 24.0% since our 2Q 08 update report, dated 12 September 2008, due to general weakness prevailing in global equity markets. However, our fundamental outlook for the company remains unchanged as we believe the company will post strong growth in revenues driven by products such as Leostrin 24 FE, Femcon FE, Doryx and Taclonex. Hence, we reiterate our BUY rating for the common stock. Based on our fundamental outlook and anticipated positive currency impact on the European stock over our investment horizon, we reiterate the European stock a BUY.

Read the full report free of charge with free to view access to institutional-quality research on 400 companies and over 700 stocks at www.researchoracle.com

Disclaimer
Independent International Investment Research PLC supplies this research via Pronet Analytics.com Ltd. (‘Pronet’). Pronet is Regulated and Authorized by the Financial Services Authority (FSA) and registered with the Securities Exchange Commission (SEC). You are reminded that investment advice provided by Pronet is for your general information and use and is not intended to address your particular requirements. Any advice or recommendations contained in this report may not be suitable for you and are not intended to be relied upon by you in the making (or refraining from making) any specific investment or other decision. Such decisions should only be made on the basis of independent advice from an appropriately qualified adviser. Pronet Analytics.com Ltd. and Independent Financial Markets Research Ltd. are subsidiaries of Independent International Investment Research PLC (the ‘Group’). Research analysts working for the Group are subject to stringent confidentiality and security policies and are located in secure-access premises which may be in the proximity of professionals conducting similar work for other firms. The Group is not nor has been nor will be engaged in investment banking and does not make markets in any of the securities covered in this report or have any investment banking relationship with the firm whose security is covered in this report. No employee or contractor of the Group is permitted to personally buy or sell stock in the company covered in this report, and neither the analysts responsible for this report nor any related household members are officers, directors, or advisory board members of any covered company. No one at a covered company is on the Board of Directors of the Group or any of its affiliates. This report is not a solicitation to buy or sell any security and past performance is no guarantee of future results.
Copyright © 2008 Independent International Investment Research PLC. All rights reserved.