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.
March 14, 1997 |
Pharmacia & Upjohn Inc. has agreed to jointly market in the U.S. a cervical screening test by Torrance-based Trylon Corp. that enhances the effectiveness of the traditional Pap smear test, the companies said. The test, privately held Trylon's first product, significantly improves the sensitivity of the cervical screening exam in finding abnormalities compared with using a Pap smear alone, they said. The combination was tested in clinical trials involving more than 10,000 women.
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.