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September 22, 2006 | From the Associated Press
Merck, the German drug maker that lost a bid to acquire rival Schering this year, said Thursday that it had purchased a majority stake in Swiss biotechnology company Serono. The transaction is part of a takeover worth 16.6 billion Swiss francs ($13.3 billion) that will expand Merck's range of drugs and increase its share of the global biotechnology market. Merck of Germany is the oldest drug company in the world and has been separate from the U.S.-based Merck & Co. since the end of World War I.
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BUSINESS
September 22, 2006 | From the Associated Press
Merck, the German drug maker that lost a bid to acquire rival Schering this year, said Thursday that it had purchased a majority stake in Swiss biotechnology company Serono. The transaction is part of a takeover worth 16.6 billion Swiss francs ($13.3 billion) that will expand Merck's range of drugs and increase its share of the global biotechnology market. Merck of Germany is the oldest drug company in the world and has been separate from the U.S.-based Merck & Co. since the end of World War I.
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SPORTS
January 14, 2003 | Rich Roberts, Special to The Times
The America's Cup, with its unceasing squabbling, has long been as much sideshow as sailing, but now it has come to this: * When Brad Butterworth, the tactician for Switzerland's Alinghi team, attended a news conference after the first race of the current Louis Vuitton Cup challenger trials, he was accompanied by three bodyguards. * Before the news conference, bomb-sniffing dogs checked the room in the waterfront media center.
CALIFORNIA | LOCAL
April 4, 2003 | Tim Reiterman, Times Staff Writer
To curb abuses that include a black market among bodybuilders, California officials said Thursday that they are tightening controls on an expensive AIDS drug that has cost the state's health program for the poor more than $175 million in the past four years. Beginning June 1, Medi-Cal will require that new prescriptions for the anti-wasting drug Serostim, which costs up to $7,000 a month, be state-approved before they can be filled. Initial prescriptions will be limited to four weeks.
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