The Carlyle Group has formally dropped out of the £1.62bn (€2.33bn) auction for Warner Chilcott, the Northern Irish drugs firm, a month after losing its co-investment syndicate to a rival bidding consortium.

Carlyle, issued a statement through the London Stock Exchange in which it reserves the right to make an offer within the next six months in the event that the current bid from Waren Acquisition lapses or is withdrawn.