Davis Polk & Wardwell LLP is advising Warner Chilcott plc in connection with its agreement to terminate its existing co-promotion agreement with Novartis and purchase the U.S. rights to Enablex from Novartis for $400 million in cash. The transaction, which is expected to close by the end of October 2010, is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions.

Warner Chilcott is a leading specialty pharmaceutical company currently focused on the gastroenterology, women’s health care, dermatology and urology segments of the North American and Western European pharmaceuticals markets. Enablex (darifenacin) is a product indicated to treat adults with symptoms of overactive bladder and had U.S. sales of approximately $190 million for the year ended December 31, 2009.

The Davis Polk corporate team includes partner Michael Davis and associates H. Oliver Smith and Harold Birnbaum. Partner Frank J. Azzopardi and associate David R. Bauer are providing intellectual property advice. The tax team includes partner Michael Mollerus and associate Craig A. Phillips. Partner Joel M. Cohen and counsel Stephen M. Pepper are providing antitrust advice. All members of the Davis Polk team are based in the New York office.