December 19, 1996 |
Warner-Lambert Co. said Wednesday that the Food and Drug Administration cleared the drug Lipitor, which has produced dramatic results in the treatment of high cholesterol, for sale in the United States. Shares of Warner-Lambert and Pfizer Inc., which will co-market the drug in the United States, rose on the news. Warner-Lambert's stock gained $2.125 to close at $76.375 and Pfizer added $1.75 to close at $82.375. Both trade on the New York Stock Exchange.
July 23, 1997 |
Five big drug makers on Tuesday reported higher second-quarter earnings, though the gains were eclipsed by news that SmithKline Beecham Corp. is ready to enter the lucrative but crowded market for cholesterol-lowering drugs. Warner-Lambert Co. and Schering-Plough Corp. beat expectations, while Bristol-Myers Squibb Co. and American Home Products Corp. matched estimates. Britain's SmithKline had lower-than-expected profit, as the pound's strength offset rising drug sales.
August 4, 1998 |
Glaxo Wellcome and Warner-Lambert Co. said they will dissolve a joint venture formed five years ago to sell over-the-counter products to give the companies greater flexibility in pursuing their own strategies. Glaxo, the world's second-biggest drug company, regained rights to sell Zantac 75, an over-the-counter version of its anti-ulcer drug, outside the U.S. and Canada. Zantac, once Glaxo's best-selling drug, lost its U.S. patent protection in 1997.
June 30, 2002 |
In trying to promote sales of the diabetes drug Rezulin, Warner-Lambert Co. representatives in 1998 explored ideas on how to get doctors who treat Latinos "to take the risk" of prescribing the drug. Latinos are an outsized chunk of the 15 million Americans with adult-onset diabetes and are twice as likely as non-Latino whites to have the disease, according to the American Diabetes Assn.
February 3, 2000 |
Warner-Lambert Co. on Wednesday accepted a sweetened bid from Pfizer Inc., and the companies hope to wrap up an $85-billion merger agreement soon to form the world's No. 2 drug maker, people familiar with the negotiations said. Pfizer boosted its bid to 2.75 of its shares for each Warner-Lambert share from the 2.5 it offered last November, the people said.
April 23, 1997 |
Higher drug and consumer products sales led to double-digit first-quarter earnings gains at Bristol-Myers Squibb Co., American Home Products and SmithKline Beecham. Warner-Lambert Co. said its profit fell 18%. In reports released Tuesday, Bristol-Myers' earnings rose 12%, led by strong sales of its cholesterol-lowering drug Pravachol. American Home's profit gained 18%, as it benefited from the introductions of the weight-loss drug Redux and the arthritis treatment Naprelan.
July 29, 1993 |
Warner-Lambert Co. on Wednesday announced agreements with two other drug makers that will make it a powerhouse in over-the-counter health care products, an arena that is becoming increasingly important in the face of health care reform and mounting pressures on prescription drug prices. The Morris Plains, N.J.
January 13, 1988 |
A national study of a highly touted experimental drug for Alzheimer's disease, suspended in October after some participants developed serious liver problems, is likely to resume in the next several weeks, The Times has learned. The U.S. Food and Drug Administration and the Warner-Lambert Co., a Morris Plains, N.J., pharmaceutical company, are putting the finishing touches on the revised procedures, which will include reduced doses of the medicine and closer monitoring for side effects.
July 2, 1996 |
Warner-Lambert Co. said Monday that it has completed its purchase of Glaxo Wellcome's 50% stake in the U.S. and European units of the companies' nonprescription drug venture for $900 million. The sale of Glaxo's interests in the venture in Canada, Mexico, Australia and New Zealand is expected to be completed in the third quarter for an additional $150 million, bringing the total price Warner-Lambert will pay to $1.05 billion.
January 27, 1999 |
Seeking to beef up its pipeline of promising drug products, Warner-Lambert Co. said Tuesday that it has agreed to buy Agouron Pharmaceuticals of La Jolla for $2.1 billion. The deal is an indication that large drug companies are continuing to look to smaller biotech firms as a source of new products. Warner-Lambert officials said the acquisition is part of a growth strategy that has seen the company's annual drug sales soar to more than $7 billion from $2.5 billion in 1996.