Warner Chilcott PLC Class A Earnings Call Nuggets: Oral Contraceptive Launch and LO LO
Oral Contraceptive Launch
Marc Goodman – UBS: Maybe you could talk about the oral contraceptive launch and how we should be thinking about a switch, what is exactly a good switch in the scenario as far as the capture rate and how much slippage you are expecting, just give us a sense of how we should be thinking about this relative to obviously what’s going with ASACOL and DELZICOL?
Roger M. Boissonneault – CEO and President: Mark, it’s Roger, I don’t think we can get into the kind of mechanics or identify switch metrics. I think you should think of this as, both these efforts were to improve the compliance of our existing OCs. As you know, historically, we have perhaps a couple of projects going on and we are not always in control of how they move through the FDA. Actually the second part of the (guide improved), we intended to be the first and how it turned out was – it took a little delay and it caused a bit of confusion. But like we said, we intend to launch that product in August, it indeed will be the next generation of LOESTRIN 24 and we will do our best to get that off to a launch that perhaps is similar to the DELZICOL execution. We just then – and part of the FDA’s concern is they don’t want to have two product forms in the marketplace. They don’t want to have a chewable and a non-chewable. So when we put the chewable into the marketplace to avoid confusion, we’re going to try to get the non-chewable out as quickly as possible.
Marc Goodman – UBS: So should we expect the non-chewable to be out before you even launch, as far as just you’re going to bleed that inventory…
Roger M. Boissonneault – CEO and President: No. That would be in par. We’re going to leave that in the marketplace, we just – we want to minimize confusion. So it will be in the marketplace and over period of time, we will bring in the new chewable product.
Chris Schott – JPMorgan: Can you just also, just elaborating on this OC dynamic, talk a little bit about how you’re going to prioritize LO LO as compared to the MINASTRIN launch? I guess just how should we be thinking about the momentum of LO LO as, I guess, some of the maybe promotional priorities move towards the new products and away from that one?
Roger M. Boissonneault – CEO and President: That’s a good question, Chris, and I think probably (loss) and the fact is our main focus is LO LO. Our main focus is the 10 microgram product and perhaps how we focus on minimizing estrogen exposure and not at the risk of decreased efficacy. So that is indeed our strategy. So LO LO is not going to go to the side with us, it’s – in other words, how do we improve 24 because that’s a 20 microgram product and we look at that as a potentially – as a different market and the ultra-low-dose OC being the 10 microgram product and we continued to look at lower doses of estrogen. So I mean, that’s part of our strategy as a company.
Chris Schott – JPMorgan: I guess one follow-up. I guess also as we think about formulary coverage for the new OC, I think just any comments you can make there and should we think about this, that this could be kind of DELZICOL like that we can have comparable formulary coverage by the time the product is launched or is there any differences here or difficulties here?
Roger M. Boissonneault – CEO and President: Yeah, at this point, we don’t perceive any difference. So we couldn’t talk about it until we got the product approved. But it will be out there. I think you’ll see managed care coverage (summits) where we have on LOESTRIN 24 and LO LO right now, that’s what we intend to duplicate.
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