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.
December 6, 1998
1996 June: The National Institutes of Health launches a $150-million experiment, testing whether Rezulin or another drug can prevent adult-onset diabetes. July 31: Warner-Lambert Co. applies to the Food and Drug Administration for approval of Rezulin as a prescription drug. Oct. 9: A veteran FDA medical officer recommends rejecting Rezulin, citing potential danger to the liver and heart as well as doubts about the drug's effectiveness. Nov.
November 29, 1995 |
A former drug company executive was indicted Tuesday and the company agreed to pay $10 million in fines after admitting that it fraudulently withheld information from the Food and Drug Administration about persistent problems with a widely used anti-epilepsy drug. New Jersey-based Warner-Lambert Co. admitted in its guilty plea that it committed a felony by failing to report problems with Dilantin, the epilepsy medication, in the early 1990s.
January 27, 1990 |
A surprise player has entered the fray between environmentalists and manufacturers of so-called degradable plastics. Warner-Lambert Co., best known for its Listerine, Rolaids and other health-care and consumer products, has announced a new plastic resin made "almost entirely" from starch. Its Novon "bio-plastic starch," as it calls the discovery, differs fundamentally from "degradable" plastics already on the market, which are blends of traditional plastics and starch.
February 7, 2000 |
American Home Products Corp. has agreed to accept $1.8 billion to abandon a merger agreement with Warner-Lambert Co. after concluding it couldn't compete with a higher bid from Pfizer Inc., a person familiar with the situation said Sunday. The boards of Warner-Lambert and Pfizer were voting Sunday to approve Pfizer's purchase of Warner-Lambert for $89 billion in stock, creating the world's No. 2 drug maker, people familiar with the situation said.
December 2, 1997 |
Glaxo Wellcome on Monday said it halted British sales of its new diabetes drug Romozin after five patients died in the U.S. and Japan from liver toxicity. The move led to a decline in shares of Warner-Lambert Co., which markets the same drug in the U.S. under the name Rezulin. Analysts also said the U.S. Food and Drug Administration may have to consider whether it is now approving drugs too quickly, after years of being criticized for being too slow.