SmithKline Beckman Corp. announced yesterday that it has agreed to merge with Britain's Beecham Group PLC, a deal that will create the world's second-largest pharmaceutical company. The announcement ends months of speculation about the future of the Philadelphia-based drug company, which laid off 1,600 employees last fall in the face of slumping sales and has been widely considered a possible takeover target. The new firm, to be known as SmithKline Beecham, will have annual sales in excess of $6.7 billion, trailing only industry leader Merck & Co. in worldwide prescription drug sales and American Home Products in revenue from over-the-counter medicines. (excerpt)
Full text: The Washington Post, Apr 13, 1989
forex trading system
No comments:
Post a Comment