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Schein Pharmaceutical Inc

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BUSINESS
July 31, 1995 | Times Staff and Wire Reports
Schein to Acquire Drug Maker: The Florham Park, N.J.-based company said it will acquire Marsam Pharmaceuticals Inc., another drug manufacturer, for about $240 million cash. Under the agreement, Schein Pharmaceutical Inc. said it expects to make a cash tender offer of $21 for each of Marsam's outstanding common shares beginning Friday through Sept. 1.
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BUSINESS
May 26, 2000 | Reuters
Generic-drug maker Watson Pharmaceuticals Inc. said it will buy money-losing rival Schein Pharmaceutical Inc. in a two-step deal valued at $674 million as it aims to expand its drug line. Watson, based in Corona, said it will offer $19.50 a share in cash, or $478 million, for at least 24.5 million, or about 74%, of Schein's outstanding shares. Watson said it expects Bayer Corp. and certain members of the Schein family--who collectively own 74% of the Florham Park, N.J.
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BUSINESS
September 29, 1998 | Bloomberg News
Schein Pharmaceutical Inc. said it will fire about 350 workers at its Steris Laboratories unit shut down by U.S. regulators. The Steris plant in Phoenix has been closed since Food and Drug Administration agents raided it earlier this month in response to what the agency said were long-standing violations of drug manufacturing rules. The Steris unit, which employs about 700 workers, supplies products that account for about 40% of the company's sales and 50% of its profit, Schein said.
BUSINESS
September 29, 1998 | Bloomberg News
Schein Pharmaceutical Inc. said it will fire about 350 workers at its Steris Laboratories unit shut down by U.S. regulators. The Steris plant in Phoenix has been closed since Food and Drug Administration agents raided it earlier this month in response to what the agency said were long-standing violations of drug manufacturing rules. The Steris unit, which employs about 700 workers, supplies products that account for about 40% of the company's sales and 50% of its profit, Schein said.
BUSINESS
May 26, 2000 | Reuters
Generic-drug maker Watson Pharmaceuticals Inc. said it will buy money-losing rival Schein Pharmaceutical Inc. in a two-step deal valued at $674 million as it aims to expand its drug line. Watson, based in Corona, said it will offer $19.50 a share in cash, or $478 million, for at least 24.5 million, or about 74%, of Schein's outstanding shares. Watson said it expects Bayer Corp. and certain members of the Schein family--who collectively own 74% of the Florham Park, N.J.
BUSINESS
September 14, 2000 | Bloomberg News
Shares of Watson Pharmaceuticals Inc. plunged 20% following the generic drug maker's late Tuesday announcement that it expects lower earnings for the quarter because of low sales stemming from its recent buy of Schein Pharmaceutical Inc. Watson said it expects third-quarter earnings of 12 cents to 14 cents per diluted share, and general accepted accounting principles (GAAP) earnings per diluted share of 3 cents to 5 cents. First Call Corp.'s GAAP earnings estimate was 48 cents per diluted share.
BUSINESS
September 6, 2000 | Bloomberg News
Watson Pharmaceuticals Inc., a maker of generic drugs, said it might sell plants in Phoenix and Cherry Hill, N.J., that it acquired as part of its purchase of Schein Pharmaceutical Inc. Corona-based Watson said it's considering various options for the two sterile injectable manufacturing plants, including selling them. The company said it hired CIBC World Markets to handle inquiries about the plants.
BUSINESS
August 15, 2001 | JED SELTZER, REUTERS
Drug maker Watson Pharmaceuticals Inc. said Tuesday that its fiscal second-quarter profit rose about 22%, matching estimates, as recent acquisitions and its generic version of anxiety drug BuSpar boosted sales by 49%. But the Corona-based company's stock fell 4.47%, or $2.83, to close at $60.50 on the New York Stock Exchange, as the results disappointed some analysts, who had expected Watson to beat the consensus estimate and report revenue well above $300 million.
BUSINESS
February 16, 2001 | From Bloomberg News
Watson Pharmaceuticals Inc. said Thursday that it had a fourth-quarter loss because of costs associated with recent acquisitions. The Corona-based pharmaceuticals maker lost $1.9 million, or 2 cents a share, contrasted with net income of $73.5 million, or 73 cents, a year earlier. Revenue rose 32% to $254.8 million from $193.2 million. Watson attributed the loss to one-time costs and charges associated with its purchases last year of Makoff R&D Laboratories Inc. and Schein Pharmaceutical Inc.
BUSINESS
February 5, 2003 | From Bloomberg News
Generic drug maker Watson Pharmaceuticals Inc. said Tuesday that its fiscal fourth-quarter earnings declined 6.9% because of costs related to a sale of a manufacturing plant. Net income fell to $43.1 million, or 40 cents a share, from $46.3 million, or 43 cents, in the same period of 2001. Revenue jumped 12% to $329.6 million from $293.9 million, helped by sales of birth-control pills and new products.
BUSINESS
July 31, 1995 | Times Staff and Wire Reports
Schein to Acquire Drug Maker: The Florham Park, N.J.-based company said it will acquire Marsam Pharmaceuticals Inc., another drug manufacturer, for about $240 million cash. Under the agreement, Schein Pharmaceutical Inc. said it expects to make a cash tender offer of $21 for each of Marsam's outstanding common shares beginning Friday through Sept. 1.
BUSINESS
November 14, 2000 | From Reuters
Generic drug maker Watson Pharmaceuticals Inc. reported lower third-quarter operating earnings Monday, but the outlook for profit through 2001, a licensing deal for a potential lupus drug and short covering pushed its stock up about 10%. Corona-based Watson projected on-track earnings through 2001 and announced plans to license Genelabs Technologies Inc.'s experimental lupus drug. Watson shares gained $4.94 to close at $56.94 on the New York Stock Exchange.
BUSINESS
November 14, 2001 | JOE RICHTER, BLOOMBERG NEWS
Watson Pharmaceuticals Inc. shares fell 39% after the third-largest generic drug maker had a wider-than-expected quarterly loss and cut profit projections. Watson shares fell $18.61 to close at $28.54 on the New York Stock Exchange, wiping out about $1.98 billion of the Corona-based firm's market value, and giving the stock its biggest one-day loss since it went public in 1993. Watson blamed the $58.6-million loss on costs related to last year's acquisition of Schein Pharmaceutical Inc.
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