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Article: With mega-merger off, Searle must regroup.
- Article from:
- Crain's Chicago Business
- Article date:
- October 26, 1998
- Author:
CopyrightCOPYRIGHT 1998 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Monsanto's unit needs marketing cash, distribution
MEERA SOMASUNDARAM
G. D. Searle & Co., on the verge of what could be the biggest product launch in its 110-year history - a much-anticipated arthritis drug - is faced with a financially weaker parent that's revising its own strategy in the wake of a collapsed merger.
The recent demise of a planned merger between Searle's owner, St. Louis-based Monsanto Co., and New Jersey-based American Home Products Corp. will force Skokie-based Searle to dig deep and spend millions, in addition to finding distribution partners to help launch a host of products likely to come to market over the next few years.