May 4, 2012 / 12:50 PM / 7 years ago

UPDATE 1-Warner Chilcott cuts full-year forecast

* Cuts FY EPS view to $3.30-$3.40 from $3.60-$3.70

* Sees charges from Doryx impairment, Western Europe restructuring

* Q1 adj net profit up 9 percent

May 4 (Reuters) - Specialty pharmaceutical company Warner Chilcott PLC posted a higher adjusted quarterly profit, but cut its full-year forecast, days after it said it would explore strategic alternatives.

The Ireland-based drugmaker had said on Monday that it would explore options that are available to the company, including talks with potential buyers. The company also said it lost out on a lawsuit to block a generic version of its acne drug, Doryx.

The company expects to take a charge of $90 million to $108 million for the full-year on the generic drug lawsuit, and an additional $10 million charge from restructuring of its facilities in Western Europe.

The Ireland-based drugmaker said it now expects an adjusted profit of $3.30 to $3.40 per share for 2012, down from its earlier forecast of $3.60 to $3.70 per share.

It expects 2012 revenue to be in a range of $2.4 billion to$2.5 billion, compared with its earlier outlook of $2.5 billion to $2.6 billion.

Analysts are expecting a profit of $3.64 per share, excluding special items, on revenue of $2.53 billion, according to Thomson Reuters I/B/E/S.

The women’s healthcare and dermatology products maker reported a higher adjusted quarterly profit for the first quarter ended March 31, but Doryx sales halved to $30 million.

Shares of the company, which have gained 15 percent in value since the company announced its decision to explore options, were slightly down before the bell. They closed at $21.63 on Thursday on the Nasdaq.

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