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Galen Hldgs (WCRX)

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Thursday 17 April, 2003

Galen Hldgs

Acquisition Update

Galen Holdings PLC
17 April 2003

17 April 2003





                               GALEN HOLDINGS PLC

 PROPOSED ACQUISITION OF WOMEN'S HEALTHCARE PRODUCTS PORTFOLIO FROM PFIZER INC.

       COMPLETION OF ACQUISITION OF FEMHRT(R) HORMONE REPLACEMENT THERAPY




Craigavon, Northern Ireland, UK / Rockaway, New Jersey, US:  Galen Holdings PLC
(LSE: GAL, Nasdaq: GALN) (the 'Company' or 'Galen'), the international
pharmaceutical company, announces today that it has completed its acquisition
from Pfizer of the hormone replacement therapy, femhrt(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 acquisition of the
women's healthcare pharmaceutical brands comprising, in addition to femhrt(R),
the oral contraceptives, Estrostep(R) and Loestrin(R).  Completion of the
Estrostep(R) and Loestrin(R) acquisition took place on 27 March 2003.



Roger Boissonneault, Chief Executive of Galen, said:



'We are pleased to be able to announce this last step in the completion of this
transaction.  These products are an important addition to the Company and
broaden our US women's healthcare portfolio.'





ENQUIRIES:


Galen Holdings PLC
David G. Kelly, SVP Finance & 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 www.galenplc.com



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