Celltech merger with Medeva brings size and a US foothold
Article Abstract:
Celltech Chiroscience is merging with Medeva in a move that creates the fourth biggest pharmaceutical company in the United Kingdom. Celltech Chiroscience gains greater access to US markets through the 40% of the Medeva sales force which is located in the US. The new company will be called The Celltech Group. There is still concern that Celltech may have taken on too much. Medeva had to finalize a deal and Celltech Chiroscience was obliged to move in case another buyer emerged, but the union could still be successful.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1999
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Medeva back to the US drugs scene
Article Abstract:
Medeva will acquire the US Rochester business of Rhone-Poulenc Rorer (RPR) and is also acquiring some French proprietary and dermatological products from RPR. Medeva plans to sell Rochester drugs through Adams with an additional 15 sales staff. Long term benefits are likely to result but there will be costs in the short term. A reorganization provision of 34 million pounds sterling will appear as a charge for 1996 but is to be distributed over a three year period.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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