Galen has changed its name in line with its focus on its leading role in the American market for female healthcare.

Stock buybacks are continuing under 700pence. IMHO a great time to buy.

As always DYOR. Get the company reports.

Assuming R&D & Capital expenditure remain similar my targets are for:

eps 04 - 60p - p/e 15-20 - share price target range 900p-1200p
eps 05 - 75p - p/e 15-20 - share price target range 1125p-1500p

These may prove conservative, on past experience.

Small annual dividend also around 0.75-1% ( covers dealing costs & tax if nothing else!!)

TSQ.

Second bidder for Warner Chilcot
MoneyAM
Warner Chilcott PLC, the Northern Ireland-based drugs firm formerly known as Galen, said it has received an additional approach from a second interested party which may or may not lead to an offer for the group.

The board yesterday announced that it had entered into a confidentiality agreement with the consortium of private equity institutions it entered talks with on Sept 20.

The talks concerned a possible offer from the consortium at an indicative price of 800 pence per share in cash. The consortium is undertaking due diligence into the company.

The company today announced that the new party has also entered into a confidentiality agreement with the company and is beginning due diligence enquiries.

The board reiterated that both the approaches remain preliminary in nature. There can be no certainty either that an offer will actually be made or to the level of an offer, if made.