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Pharmacia Upjohn Inc

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BUSINESS
January 21, 1997 | Times Staff and Wire Reports
John Zabriskie, president and chief executive of Swedish-U.S. pharmaceutical giant Pharmacia & Upjohn Inc., unexpectedly announced his resignation. The move comes amid disappointing profit for the maker of Rogaine hair restorer, Kaopectate for diarrhea and Halcion tranquilizers. The company, created in 1995 through the merger of Upjohn Co. & Sweden's Pharmacia, has also had difficulty consolidating its two halves.
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BUSINESS
February 11, 2000 | Bloomberg News
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.
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BUSINESS
November 21, 1996 | Times Staff and Wire Reports
Pharmacia & Upjohn Inc., a Swedish-American drug maker, said it will cooperate with San Diego-based Prizm Pharmaceuticals in developing the ophthalmology drug Pantarin. The protein-based drug is mainly used to treat post-cataract opacification, a condition that appears in 30% to 50% of the 4 million patients annually who have lens-replacement operations after cataract surgery. It works by seeking out and destroying proliferating cells.
BUSINESS
December 25, 1999 | NOELLE KNOX, ASSOCIATED PRESS
With investors booing the proposed $23-billion merger between Monsanto Co. and Pharmacia & Upjohn Inc., and the $50-billion merger between Warner-Lambert Co. and American Home Products Corp., both deals appear in jeopardy of falling apart. And whatever the outcome, pharmaceutical industry executives may now be wary of merging with a same-size rival for fear of disappointing investors with a low price, as in Monsanto's case, or opening the door to an unwanted suitor, as in Warner-Lambert's case.
BUSINESS
March 5, 1996 | Times Staff and Wire Reports
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.
BUSINESS
December 21, 1999 | Associated Press
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.
BUSINESS
February 11, 2000 | Bloomberg News
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.
BUSINESS
February 6, 1996 | Times Staff and Wire Reports
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.
BUSINESS
June 16, 1999 | Bloomberg News
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.
BUSINESS
December 22, 1999 | (Bloomberg News)
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.
BUSINESS
December 22, 1999 | (Bloomberg News)
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.
BUSINESS
December 21, 1999 | Associated Press
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.
BUSINESS
December 20, 1999 | GEORGE STEIN and BRETT CHASE, BLOOMBERG NEWS
Monsanto Co. and rival drug maker Pharmacia & Upjohn Inc. on Sunday agreed to merge in a $26.5-billion stock transaction and sell off part of the agriculture business that helped drag Monsanto's share price down 12% this year. Monsanto stockholders will exchange each of their shares for a share of the combined company in the transaction, described as a merger of equals without a premium for shareholders. Pharmacia shareholders will receive 1.19 shares for each of their shares, a 1.
BUSINESS
December 18, 1999 | NOELLE KNOX, ASSOCIATED PRESS
Monsanto Co., continuing its search for a buyer, is talking to Pharmacia & Upjohn Inc. about a merger that would create a drug company with products ranging from arthritis pain relievers to smoking-cessation gum, a person familiar with the situation said Friday. The two companies are still far apart on key issues, said the person, who spoke on condition of anonymity.
BUSINESS
June 16, 1999 | Bloomberg News
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.
BUSINESS
October 14, 1997 | From Associated Press
Pharmacia & Upjohn Inc. said Monday that it is moving its headquarters from London to the East Coast and shifting or cutting 600 jobs at its Kalamazoo, Mich., facility. Relocating the home office of the pharmaceutical giant will help it respond more quickly to market changes and keep it "tightly linked to the marketplace," said Fred Hassan, who became chief executive in May.
BUSINESS
October 14, 1997 | From Associated Press
Pharmacia & Upjohn Inc. said Monday that it is moving its headquarters from London to the East Coast and shifting or cutting 600 jobs at its Kalamazoo, Mich., facility. Relocating the home office of the pharmaceutical giant will help it respond more quickly to market changes and keep it "tightly linked to the marketplace," said Fred Hassan, who became chief executive in May.
BUSINESS
July 9, 1997 | DENISE GELLENE, TIMES STAFF WRITER
Pharmacia & Upjohn began airing commercials Tuesday for Depo-Provera, becoming the first company to advertise a female contraceptive on television. The two-minute spots premiered on three cable TV networks and on local stations in Nashville; Kansas City, Mo.; Seattle; and Columbus, Ohio. The campaign is considered a test and will last three weeks. Broadcasters have been skittish about birth control ads, and Pharmacia & Upjohn encountered resistance in getting its commercials on the air.
BUSINESS
June 6, 1997 | (Associated Press)
Pharmacia & Upjohn said it will trade its Motrin IB pain reliever and an antibiotic for Johnson & Johnson's cold, allergy and Micatin athlete's foot treatments, in a move designed to allow each company to focus on its strengths. Under the agreement, Pharmacia & Upjohn will give the rights to its Motrin IB pain reliever to New Brunswick, N.J.-based Johnson & Johnson's McNeil Consumer Products division and its antibiotic ointment Mycitracin to J&J Consumer Products. In exchange, Kalamazoo, Mich.
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