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Galen Hldgs (WCRX)

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Thursday 27 March, 2003

Galen Hldgs

Acquisition Completion

Galen Holdings PLC
27 March 2003

27 March 2003

                               GALEN HOLDINGS PLC



Craigavon, Northern Ireland, UK / Rockaway, New Jersey, US:  Galen Holdings PLC
(LSE: GAL, Nasdaq: GALN) (the 'Company' or 'Galen'), announces today that it has
completed its acquisition from Pfizer of the oral contraceptives Estrostep(R)
and Loestrin(R).  The acquisition, further details of which are set out in the
Company's announcement and circular to shareholders, each dated 6 March 2003, is
part of Galen's proposed acquisition of the women's healthcare pharmaceutical
brands comprising, in addition to the oral contraceptives, the hormone
replacement therapy, femhrt(R).

Completion of the acquisition of the hormone replacement therapy femhrt(R) is
expected to occur following the receipt of regulatory approval.

Roger Boissonneault, Chief Executive of Galen said:  'We are pleased that the
acquisition of these two products from Pfizer has been completed. This
acquisition helps to broaden our US women's healthcare portfolio. We look
forward to closing the transaction on femhrt(R) as soon as the acquisition of
Pharmacia Corporation by Pfizer is completed.'

                                   #   #   #


Galen Holdings PLC
David G. Kelly, SVP Finance and Planning                Tel: + 44 283 833 4974
Hoare Govett Limited
Andrew Chapman/Justin Jones                             Tel: +44 20 7678 8000

Financial Dynamics
Sophie Pender-Cudlip/Francetta Carr                     Tel: + 44 20 7831 3113

For further information on Galen, please visit

Forward looking statements in this report, including, without limitation,
statements relating to the Galen''s plans, strategies, objectives, expectations,
intentions and adequacy of resources, are made pursuant to the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of 1995. These
forward looking statements involve known and unknown risks, uncertainties and
other factors that may cause the actual results, performance or achievements of
Galen to be materially different from any future results, performance or
achievements expressed or implied by such forward looking statements. These
factors include, among others, the following: Galen's ability to manage its
growth, government regulation affecting the development, manufacture, marketing
and sale of pharmaceutical products, customer acceptance of new products,
competitive factors in the industries in which Galen operates, the loss of key
senior management or scientific staff, exchange rate fluctuations, general
economic and business conditions, and other factors described in filings of the
Galen with the SEC. Galen undertakes no obligation to publicly update or revise
any forward looking statement, whether as a result of new information, future
events or otherwise.

Hoare Govett Limited, which is authorised and regulated in the UK by the
Financial Services Authority, is acting for Galen Holdings PLC and no one else
in connection with the matters set out in this announcement and will not be
responsible to anyone other than Galen Holdings PLC for providing the
protections afforded to the clients of Hoare Govett Limited or for providing
advice in relation to the matters set out in this announcement or any
transaction referred to herein.

                      This information is provided by RNS
            The company news service from the London Stock Exchange