June 30, 1994 |
Sanofi to Sell Winthrop for $450 Million: The drug, cosmetics and perfume unit of French oil group Elf Aquitaine said it will sell nearly all of Sterling Winthrop's diagnostic imaging business to Norway's Hafslund Nycomed for $450 million. The sale follows Sanofi's agreement last week to acquire Sterling Winthrop, the prescription pharmaceutical business of Rochester, N.Y.-based Eastman Kodak, for $1.675 billion.
June 24, 1994 |
Eastman Kodak Co. said Thursday that France's Sanofi has agreed to pay more than $1.68 billion to acquire the prescription pharmaceutical business of Kodak's Sterling Winthrop subsidiary. Sanofi, Kodak's partner in the unit, was named as a potential buyer when the photographic giant said in May that it planned to sell the business. The unit includes Sterling Winthrop's stake in the Sanofi Winthrop global pharmaceutical alliance.
CALIFORNIA | LOCAL
March 20, 1989 |
An experimental drug that doctors hoped would help strengthen the hearts of people with chronic heart failure appears no more effective than a long-used medication, researchers reported last week. A study involving 230 patients with chronic heart failure found those who received the drug milrinone did not do significantly better than those who received the long-used drug digoxin, the researchers said.
May 4, 1994 |
Closing the books on a failed diversification strategy, Eastman Kodak Co. said Tuesday that it will sell its Sterling Winthrop drug unit and two other subsidiaries in order to pay down debt and focus resources on photography and other "imaging" businesses. The selloff is the first big initiative undertaken by Kodak Chairman George M.C. Fisher, who took the helm of the staid photography giant last fall with a vow to transform it into a major player in a variety of Information Age businesses.
August 11, 1994 |
Eastman Kodak Co. is reopening bidding for its L&F Products as it seeks separate buyers--and a higher price--for the unit's two businesses. The company said May 3 that it planned to sell L&F and two other units, Sterling Winthrop and Clinical Diagnostics, to reduce debt and concentrate on its core imaging business. L&F now plans to sell its household products business and do-it-yourself business separately, L&F President and Chief Executive Michael Gallagher told employees in a memo Wednesday.
October 3, 1994 |
In an unusual alliance between a drug company and a nonprofit health organization, the makers of Tylenol and the Arthritis Foundation have launched a line of pain relievers aimed at the 40 million people who suffer from the crippling disease. The agreement gives the foundation $1 million a year for research, and gives Johnson & Johnson a firmer foothold in the $2.5-billion analgesic market. Tylenol, its only product in the category, is the top seller, with a market share of 33%.