March 5, 1996 |
Pharmacia & Upjohn to Close Plants: The Swedish-American company said it will close 40% of its drug plants worldwide in the next four years, saving $300 million a year by 2000. Pharmacia & Upjohn Inc. did not say how many jobs will be lost or which of its 56 plants will be closed. The expected savings will be on top of an estimated $500 million a year resulting from job cuts and plant closures following last year's merger of Sweden's Pharmacia and Kalamazoo, Mich.-based Upjohn Co.
December 21, 1999 |
The planned merger of Monsanto Co. and Pharmacia & Upjohn Inc. rattled investors, as shareholders thought both U.S. pharmaceutical companies could have made a better deal. But analysts said the companies are making the right move to sustain their long-term growth. Monsanto's products include the blockbuster arthritis treatment Celebrex, farm chemicals and genetically engineered seeds. Pharmacia's major products are the contraceptive Depo-Provera and the over-the-counter hair-growth gel Rogaine.
February 11, 2000 |
Pharmacia & Upjohn Inc. and Monsanto Co., which will complete a $31-billion merger this year, posted strong fourth-quarter profits on increased sales of drugs for arthritis, incontinence and glaucoma. Monsanto had profit from continuing operations of $46 million, or 7 cents a share, on strong sales of the arthritis painkiller Celebrex, following a year-earlier loss.
February 6, 1996 |
Drug Maker Confirms Job Cuts: Pharmacia & Upjohn Inc. confirmed it will trim its work force by 4,000, or about 10%, and set up headquarters near London. President John Zabriskie told a news conference that the new group--the world's ninth-largest drug company--also plans to introduce 28 products, including treatments for cancer, AIDS, Parkinson's disease and other disorders of the central nervous system. The job cuts were anticipated; in November, Upjohn Co.
June 16, 1999 |
Pharmacia & Upjohn Inc., the world's No. 1 maker of human growth hormone, agreed to buy biotechnology company Sugen Inc. in a $650-million stock transaction that would boost Pharmacia's development of cancer drugs. Pharmacia said it agreed to pay $31 worth of its stock for each share of Sugen. That price represents a 38% premium over South San Francisco-based Sugen's closing stock price Tuesday of $22.50. The acquisition could reduce earnings per share by as much as 2% next year, Pharmacia said.
December 22, 1999 |
Delta & Pine Land Co., the leading U.S. cottonseed producer, said Monsanto Co. owed it $81 million for terminating a $1.3-billion acquisition bid and threatened legal action to protect its shareholders. Monsanto announced its decision a day after it agreed to merge with Pharmacia & Upjohn Inc. in a $23.3-billion stock transaction. The St.