Zeneca

Zeneca Group PLC
Public limited company
Industry Pharmaceutical
Fate Merged with Astra AB
Successor AstraZeneca
Founded 1993
Defunct 1999
Headquarters London, UK
Products Pharmaceutical 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]

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 the 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 percent 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 exercised its right to acquire the 50 percent of Salick Health Care that it did not already own in March 1997.[9] In December 1997, Zeneca acquired the US fungicide operations of Ishihara Sangyo Kaisha, together 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 was planning to sell its Zeneca Specialties division, including its biocides, industrial colours, lifescience molecules, performance and intermediate chemicals and resins activities.[13] Zeneca and Astra AB announced a £48 billion merger in December 1998.[14] In February 1999, it was reported that Zeneca would be suing the US Food and Drug Administration in respect of 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

References

  1. ↑ "Timetable for Zeneca demerger spelled out". The Independent. 26 February 1993. 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. 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. 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. 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. 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. 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. Retrieved 5 July 2011.
  15. ↑ "Zeneca to sue US drug monitor". The Independent. 9 February 1999. Retrieved 5 July 2011.
  16. ↑ "The Lowdown: McKillop gives his opponents the treatment". The Independent. 21 September 2003. Retrieved 5 July 2011.
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