Warner Chilcott Wraps Up Irish Move

Warner Chilcott (WCRX - Snapshot Report) has announced that it has completed its move to Ireland from Bermuda. 

As per the transaction Warner Chilcott Ltd. became a wholly-owned subsidiary of Warner Chilcott Plc. 

The movement to Ireland was approved by the company’s board in May this year, citing advantages such as, stable long-term legal and regulatory environment and robust network of tax treaties with other countries. The move received shareholder approval earlier this month. 

Meanwhile, the specialty pharmaceutical company reported second-quarter earnings of 44 cents per share on Aug 7, beating the Zacks Consensus Estimate by nearly 13%. 

WCRX, a Zacks #3 Rank ("Hold") stock, has advanced more than 3% so far today on higher-than-usual volume of about 1.8 million, compared to the average daily volume of approximately 1.2 million.