Keep trying
Article Abstract:
Hoechst may acquire a majority holding in Marion Merrell Dow (MMD), a pharmaceuticals producer from the US which is controlled by Dow Chemical. THe US accounts for some 6% of Hoechst's turnover, and the company acquired a controlling stake in Copley in 1993. Copley faces allegations over its manufacturing practices which could lead to large liabilities for Hoechst, and this may affect the negotiations to acquire MMD. Neither Hoechst nor Dow Chemical would comment on the negotiations.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Norwegians in a spin
Article Abstract:
Hafslund Nycomed is a Norwegian pharmaceuticals concern which plans a demerger. The company plans to split into Nycomed which will take on medical imaging and pharmaceuticals, and Hafslund, which will be involved in hydroelectric power production and distribution. The scheme, which is to be presented to shareholders in May 1996, has not been well received by analysts, and follows a failed merger with Ivax, a US company, which shareholders rejected.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Glaxo mega-bid born of desperation not innovation: add together two drug companies with growth problems, and you don't necessarily end up with a world-beater. Glaxo's cost-led bid for Wellcome suggests a shortage of ideas at the UK's leading pharmaceuticals grou
Article Abstract:
Glaxo's bid for Wellcome is aimed at reducing the combined overhead of 5.7 billion pounds sterling. The Wellcome Trust, owner of 39.5% of Wellcome PLC, has aggred to sell to Glaxo, but the Charity Commissioners may block the sale. The sale must also have the approval of the High Court. Glaxo would restructure the combined business which could cost 1 billion pounds sterling.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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