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.
April 13, 1996 |
Drug Company Challenges Rogaine Decision: Pharmacia & Upjohn Inc., maker of the hair-growth drug Rogaine, sued the U.S. government, challenging its decision to let other companies sell generic copies of the substance, topical minoxidil, over the counter. The suit, filed in U.S. District Court in Kalamazoo, Mich.
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.