Carter-Wallace Explained

Carter-Wallace
Type:	Public
Industry:	Pharmaceutical
Founded:	1859
Founder:	John Samuel Carter
Defunct:	in Erie, Pennsylvania, United States
Fate:	Acquired by Church and Dwight and Kelso & Company
Num Employees:	3320
Num Employees Year:	2000

Carter-Wallace was a personal care company headquartered in New York City.^[1] The company was formed by the merger of Carter Products and Wallace Laboratories. The company had a research facility in Cranbury, New Jersey.^[2]

History

The company was formed as Carter Medicine Company which was incorporated in 1880 by John Samuel Carter of Erie, Pennsylvania. John Carter died in 1884 and his son, Samuel Carter took over.^[1] John Higgins Wallace Jr., a research chemist from Princeton, New Jersey was hired and he formulated Arrid deodorant in 1935.^{[1] [3]}

In 2001 the consumer product line was sold to Church and Dwight and MedPointe bought the diagnostics and drug businesses.^{[4] [5]}

CEOs

• John Samuel Carter (?-1884) 1880 to 1884.^{[1] [2]}
• Samuel J. Carter, son of John.^[1]
• Brent Good, a New York businessman that convinced John to incorporate.^[1]
• Harry Good, son of Brent.^[1]
• Charles Orcutt, brother-in-law of Harry.^[1]
• Henry Hamilton Hoyt Sr., son-in-law of Charles; bought a controlling interest in the company.^{[6] [1]}
• Henry Hamilton Hoyt Jr.^[7]

Timeline

• 1859: Carter's Little Liver Pills compounded in a four room building in Erie, Pennsylvania.^{[1] [2]}
• 1880: Carter Medicine Company is incorporated.^{[1] [2]}
• 1929: Henry Hamilton Hoyt Sr. becomes company's managing director.^[1]
• 1935: Arrid antiperspirant introduced.^[1]
• 1937: Carter Medicine Company becomes Carter Products.^[1]
• 1940: Nair depilatory introduced.^[1]
• 1949: Rise shaving cream, the first pressurized shave cream is introduced.^[1]
• 1961: Henry Hamilton Hoyt Jr., becomes company chairman.^[1]
• 1965: Carter Products is renamed Carter-Wallace.^[1]
• 1985: Youngs Drug Products acquired.^[1]
• 1988: Sea & Ski sold to Fabergé^[8]
• 1989: Hygeia Sciences acquired.^[1]
• 1993: Felbatol, a medication for epileptics, is launched and later withdrawn from the market.
• 1999: Trojan condom Supra, the first polyurethane condom is introduced.^[1]
• 2000: Henry Hamilton Hoyt Jr. retires.^[1]
• 2001: MedPointe buys the pharmaceutical pipeline and the Carter-Wallace name, and Church and Dwight buys the personal care brands.^{[2] [4] [9]}

Products

• • Arrid deodorant Carter's Laxative, which was originally known as Carter's Little Liver Pills and after 1959 as Carter's Little Pills.^{[6] [10]}
• First Response
• Lambert Kay
• Meprobamate, marketed as Miltown
• Nair depilatory
• Pearl Drops
• Carisoprodol, marketed as Soma
• Trojan condoms
• Simeticone, marketed as Ovol
• Dimenhydrinate, marketed as Gravol
• Aluminum Hydroxide, Magnesium Hydroxide, and Simethicone, antiacid antiflatulent preparation, marketed as Diovol
• Pepsin preparation, marketed as Fermentol

Notes and References

1. Web site: Carter-Wallace . 2011-09-26 . Carter-Wallace, Inc. is a diversified healthcare company that has exhibited a consistent knack for anticipating business trends. The company markets and makes toiletries, proprietary drugs, diagnostic specialties, pharmaceuticals, and pet products. Best known for such products as Arrid deodorant and Trojan condoms, Carter-Wallace has more recently emphasized its laboratories division, where work on various medications points the way to future profits. ... . Funding Universe .
2. Encyclopedia: . Carter-Wallace . 9780813533254. 2011-09-26 . Lurie. Maxine N. Mappen. Marc. 2004.
3. News: John Wallace, 82, Chemist and Executive . In 1934 he bought a laboratory where he had been a consulting chemist, and it became Wallace Laboratories. That organization merged with Carter Products to become Carter-Wallace Inc., a drug and cosmetics manufacturer based in Manhattan. ... . . March 24, 1989 . 2011-09-27 .
4. News: Carter-Wallace's brands will be sold to 2 different companies for a total of $1.12 billion . Carter-Wallace, ending a yearlong process to find buyers for its many brands, will split its consumer brands -- including Trojan condoms and Arrid deodorant--from its health business, after failing to attract a better offer for the entire company. For Church & Dwight, which owns the Arm & Hammer baking soda product line, the purchase of Carter-Wallace's deodorant and pet- care lines will help the firm expand internationally, it said. A 50- 50 venture Church has formed with Kelso will take the other consumer lines. MedPointe will get Carter-Wallace's diagnostics and drug businesses, which make the allergy medicine Astelin, the muscle relaxant Soma and Rynatan/Tussi cough and cold products. .... . May 9, 2001 . 2011-09-26 .
5. News: Carter-Wallace Sells Itself . Carter-Wallace Inc. agreed to sell itself for $1.12 billion, splitting consumer brands including Trojan condoms and Arrid deodorant from its health business after failing to attract a better offer for the entire company. A venture of the consumer goods maker Church & Dwight Company and the private equity group Kelso & Company will buy Carter-Wallace's consumer division for $739 million in cash. MedPointe Capital Partners L.L.C., formed last year to build a specialty health care business, will buy the drug and tests unit for $408 million. ... . The New York Times . May 9, 2001 . 2011-09-26 .
6. News: Henry Hoyt, 96, Dies. Headed Drug Company . Perhaps the company's best-known product was Carter's Little Liver Pills, which had been developed in the 1870s by Dr. Samuel J. Carter, a druggist in Erie, Pa. Mr. Hoyt changed the name to Carter's Little Pills in 1959 after the Federal Trade Commission objected to advertising claims that the pills increase the flow of bile from the liver, and the United States Supreme Court refused to intervene. . The New York Times . November 7, 1990 . 2011-09-24 .
7. News: Carter-Wallace . https://archive.today/20130131150102/http://pqasb.pqarchiver.com/djreprints/access/75886634.html?dids=75886634:75886634&FMT=ABS&FMTS=ABS:AI&type=historic&date=Aug+12,+1965&author=&pub=Wall+Street+Journal&desc=Who's+News&pqatl=google . dead . January 31, 2013 . Henry H. Hoyt, Jr., was named president of the newly created Carter products division of this drug, specialty foods and toiletries concern. Fred L. Lemont was named vice president, marketing, of the unit. ... . . August 12, 1965 . 2011-09-26 .
8. https://business.fiu.edu/pdf/PrintFeb2008/Banana_Boat_Founder_Robert_Bell.pdf Banana_Boat_Founder_Robert_Bell - Florida International University College of Business. Feb 27, 2008
9. Web site: About Us . 2011-09-26 . September 2001 brought the biggest change to the Carter-Wallace business in more than one-hundred years when the pharmaceutical and diagnostics businesses of Carter-Wallace, Inc. was sold to MedPointe Capital Partners, backed by private equity firms The Carlyle Group and The Cypress Group in a cash deal valued at approximately $408 million. In the deal, MedPointe acquired Wallace Laboratories, Carter-Wallace's pharmaceutical arm, and Wampole Laboratories, its diagnostics unit, as well as the rights to the Carter-Wallace name. . . https://web.archive.org/web/20110926065021/http://www.wallacepharmaceuticals.com/aboutus.html . 2011-09-26 . dead .
10. News: Cut Out the Liver . https://web.archive.org/web/20071108214845/http://www.time.com/time/magazine/article/0,9171,814704,00.html#ixzz1YtSDgVtq . dead . November 8, 2007 . One of the most familiar of all trade names was booked for a major operation last week. The Federal Trade Commission told the manufacturers of Carter's Little Liver Pills to cut the word "liver" out of the product name. ... . . April 16, 1951 . 2011-09-24 .