Drug maker to close plants and cut jobs
Article Abstract:
Johnson & Johnson made its cost cutting announcement after the market closed on 12/3/98 denying that the moves are in response to competitors' profits being higher than its own. The 5th largest drug company posted a Q3 earnings gain of 11%, much lower than other pharmaceutical firms. The New Jersey-based company will close 36 plants, 11 in the U.S., and eliminate a net 4,100 jobs over the next 18 months.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Investors study drug pipelines for the next blockbuster medicine
Article Abstract:
Analysts predict new arthritis drugs from Monsanto/Pfizer and from Merck & Co. will be the largest sellers in 1999. Big sellers are always drugs that treat ulcers and Johnson & Johnson has Aciphex, American Home Products has Protonix. Investors look for the drugs that will be either a blockbuster, selling over $1 billion in a year, and/or those that will increase stock value by about 16%.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: 4 drug makers move to settle in pricing suit. Old drugs, new labels. American Home Products buying Monsanto for $34.4 billion
- Abstracts: Roche urges caution in Posicor switch after 4 patients had severe reactions
- Abstracts: News Corp. to sell shares in new unit. CBS to spin off up to 20% of radio and billboard unit. News Corp. offer raises $2.8 billion
- Abstracts: Bit of progress in talks to end strikes at G.M. GM reportedly to combine US and foreign operations. A new route for General Motors: the world's largest company prepares to re-invent itself
- Abstracts: Chancellor makes a foray into TV with Lin purchase. Spanish-speaking consumers are the object of a growing number of marketers' desires