Zeneca Explained

Zeneca Group PLC
Type:Public limited company
Fate:Merged with Astra AB
Successor:AstraZeneca
Foundation:1993
Location:London, UK
Products:Pharmaceutical products
Industry:Pharmaceutical

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 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

Notes and References

  1. News: Timetable for Zeneca demerger spelled out. https://ghostarchive.org/archive/20220507/https://www.independent.co.uk/news/business/timetable-for-zeneca-demerger-spelled-out-1475344.html . 7 May 2022 . subscription . live. 5 July 2011. The Independent. 26 February 1993.
  2. News: Zeneca and Astra merge to form drug giant. 5 July 2011. BBC News. 9 December 1998.
  3. News: Corporate Profile: The arranged marriage . https://ghostarchive.org/archive/20220507/https://www.independent.co.uk/news/business/corporate-profile-the-arranged-marriage-1072830.html . 7 May 2022 . subscription . live. 5 July 2011. The Independent. 24 February 1999.
  4. News: Pound batters drug giant. 5 July 2011. BBC News. 6 August 1998.
  5. News: Zeneca profits up 42% in first year after demerger: Volume and price growth, but conditions remain tough. https://ghostarchive.org/archive/20220507/https://www.independent.co.uk/news/business/zeneca-profits-up-42-in-first-year-after-demerger-volume-and-price-growth-but-conditions-remain-tough-1426911.html . 7 May 2022 . subscription . live. 5 July 2011. The Independent. 4 March 1994.
  6. News: The name game. 25 May 2012. The Telegraph. 14 January 2001.
  7. News: Zeneca to Extend Its Reach into Cancer Care Services. 5 July 2011. The New York Times. 23 December 1994.
  8. News: Zeneca sells loss-making dye business for pounds 150m. https://ghostarchive.org/archive/20220507/https://www.independent.co.uk/news/business/zeneca-sells-lossmaking-dye-business-for-pounds-150m-1346377.html . 7 May 2022 . subscription . live. 5 July 2011. The Independent. 9 May 1996.
  9. News: Zeneca to Buy Rest of Salick Health Care. 6 July 2011. The New York Times. 28 March 1997.
  10. News: Zeneca buys pounds 300m fungicide business from Japanese rival. https://ghostarchive.org/archive/20220507/https://www.independent.co.uk/news/business/zeneca-buys-pounds-300m-fungicide-business-from-japanese-rival-1289452.html . 7 May 2022 . subscription . live. 5 July 2011. The Independent. 18 December 1997.
  11. News: Zeneca Group Buys U.S. Fungicide Business. 5 July 2011. The New York Times. 18 December 1997.
  12. News: Drugs chief appointed new head of Zeneca. https://ghostarchive.org/archive/20220507/https://www.independent.co.uk/news/business/drugs-chief-appointed-new-head-of-zeneca-1158275.html . 7 May 2022 . subscription . live. 5 July 2011. The Independent. 23 May 1998.
  13. News: Zeneca mulls specialities sale. 5 July 2011. BBC News. 12 November 1998.
  14. News: Has Zeneca chosen wisely?. https://ghostarchive.org/archive/20220507/https://www.independent.co.uk/news/business/has-zeneca-chosen-wisely-1190661.html . 7 May 2022 . subscription . live. 5 July 2011. The Independent. 11 December 1998.
  15. News: Zeneca to sue US drug monitor. https://ghostarchive.org/archive/20220507/https://www.independent.co.uk/news/business/zeneca-to-sue-us-drug-monitor-1069736.html . 7 May 2022 . subscription . live. 5 July 2011. The Independent. 9 February 1999.
  16. News: The Lowdown: McKillop gives his opponents the treatment. 5 July 2011. The Independent. 21 September 2003.

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