Zeneca

Last updated

Zeneca Group PLC
Company type Public limited company
Industry Pharmaceutical
Founded1993
Defunct1999;25 years ago (1999)
FateMerged with Astra AB
Successor AstraZeneca
HeadquartersLondon, UK
ProductsPharmaceutical products

Zeneca (officially Zeneca Group PLC) was a British multinational pharmaceutical company headquartered in London, United Kingdom. It was formed in June 1993 by the demerger of the pharmaceuticals and agrochemicals businesses of Imperial Chemical Industries into a separate company listed on the London Stock Exchange. [1]

Contents

In 1999, Zeneca and the Sweden-based pharmaceutical company Astra AB merged to form AstraZeneca plc. [2] [3]

Zeneca's largest therapeutic area was oncology, in which its key products included Casodex, Nolvadex and Zoladex. [4] Other key products included heart drug Tenormin. [5]

Name

"Zeneca" was an invented name created by the branding consultancy Interbrand. [6] Interbrand had been instructed to find a name which began with a letter from either the top or bottom of the alphabet and was phonetically memorable, of no more than three syllables and did not have an offensive meaning in any language. [6]

History

In December 1994, Zeneca agreed the acquisition of 50% of Salick Health Care, an operator of cancer care centres in the United States, in a transaction which valued Salick at US$440 million. [7] Zeneca announced the sale of its textile colours business to the German group BASF in May 1996. [8] Zeneca announced it would purchase the remaining 50% of Salick Health Care that it did not already own on 28 March 28 1997. [9] In December 1997, Zeneca acquired the US fungicide operations of Ishihara Sangyo Kaisha, along with the international distribution rights to four recently developed fungicides, herbicides and pest control products, for US$500 million. [10] [11]

In May 1998, Zeneca announced that Tom McKillop, then the head of its drugs division, would succeed Sir David Barnes as chief executive, with Barnes becoming non-executive chairman of the company. [12] In November 1998, Zeneca announced that it would sell its Zeneca Specialties division, including its biocides, industrial colours, life science molecules, performance and intermediate chemicals and resins activities. [13] On 11 December 1998, Zeneca and Astra AB announced a £48 billion merger. [14] In February 1999, it was reported that Zeneca would sue the US Food and Drug Administration over its decision to allow Gensia Sicor to produce a generic version of its anaesthetic Diprivan. [15] The merger between Zeneca and Astra AB was completed in April 1999, forming AstraZeneca plc. [16]

See also

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References

  1. ↑ "Timetable for Zeneca demerger spelled out" . The Independent. 26 February 1993. Archived from the original on 7 May 2022. Retrieved 5 July 2011.
  2. ↑ "Zeneca and Astra merge to form drug giant". BBC News. 9 December 1998. Retrieved 5 July 2011.
  3. ↑ "Corporate Profile: The arranged marriage" . The Independent. 24 February 1999. Archived from the original on 7 May 2022. Retrieved 5 July 2011.
  4. ↑ "Pound batters drug giant". BBC News. 6 August 1998. Retrieved 5 July 2011.
  5. ↑ "Zeneca profits up 42% in first year after demerger: Volume and price growth, but conditions remain tough" . The Independent. 4 March 1994. Archived from the original on 7 May 2022. Retrieved 5 July 2011.
  6. 1 2 "The name game". The Telegraph. 14 January 2001. Retrieved 25 May 2012.
  7. ↑ "Zeneca to Extend Its Reach into Cancer Care Services". The New York Times. 23 December 1994. Retrieved 5 July 2011.
  8. ↑ "Zeneca sells loss-making dye business for pounds 150m" . The Independent. 9 May 1996. Archived from the original on 7 May 2022. Retrieved 5 July 2011.
  9. ↑ "Zeneca to Buy Rest of Salick Health Care". The New York Times. 28 March 1997. Retrieved 6 July 2011.
  10. ↑ "Zeneca buys pounds 300m fungicide business from Japanese rival" . The Independent. 18 December 1997. Archived from the original on 7 May 2022. Retrieved 5 July 2011.
  11. ↑ "Zeneca Group Buys U.S. Fungicide Business". The New York Times. 18 December 1997. Retrieved 5 July 2011.
  12. ↑ "Drugs chief appointed new head of Zeneca" . The Independent. 23 May 1998. Archived from the original on 7 May 2022. Retrieved 5 July 2011.
  13. ↑ "Zeneca mulls specialities sale". BBC News. 12 November 1998. Retrieved 5 July 2011.
  14. ↑ "Has Zeneca chosen wisely?" . The Independent. 11 December 1998. Archived from the original on 7 May 2022. Retrieved 5 July 2011.
  15. ↑ "Zeneca to sue US drug monitor" . The Independent. 9 February 1999. Archived from the original on 7 May 2022. Retrieved 5 July 2011.
  16. ↑ "The Lowdown: McKillop gives his opponents the treatment". The Independent. 21 September 2003. Retrieved 5 July 2011.[ dead link ]
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