Word: hoechst
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...benefits of chips and chocolate. - By Joe Kirwin Chemical Brothers European Commission antitrust police fined three chemical firms €217 million for running a cartel in the market for a widely-used chemical between 1984 and 1999. Dutch firm Akzo Nobel, France's Atofina - now Arkema - and Germany's Hoechst colluded to fix the price of MCAA, used to make food and cosmetics...
...Buenos Aires as in Brussels. "The economic imperatives behind such consolidation bring about a mixing and altering of business cultures that no one can impose or ignore," says French economist Jean-Marie Chevalier. "It requires larger, global-thinking vision and management. What nationality is a DaimlerChrysler or a Hoechst-Rhone-Poulenc? The markets certainly don't care, and neither, at the end of the day, does the consumer, if product quality and price are roughly the same...
...giant Vodafone AirTouch will surpass the AOL-Time Warner/deal as the largest merger ever. The most auspicious development of the past year, given Europe's historic fragmentation along national lines, is the cross-border merger. Aventis is the new, conspicuously neutral name for what used to be Germany's Hoechst and France's Rhone-Poulenc. Nor are Europeans confining their targets to the Old Continent. Even a few years ago, it would have been hard to imagine Renault buying Japanese carmaking giant Nissan or Daimler-Benz acquiring Chrysler...
...subsidiary Searle makes the wildly successful arthritis drug Celebrex, has been casting around for a merger partner for over a year, and now, executives say, the search is over. Monsanto will merge with Pharmacia & Upjohn, joining the ranks of other mega-merger firms like Astra-Zeneca and Rhone-Poulenc-Hoechst, to form a corporation worth about $52 billion. Why did it take so long for Monsanto to find its mate, and why was Pharmacia willing to take it on? The answers lie in Monsanto's agri-chemical division, a successful but controversial arm of the company, which is the target...
Armed with this knowledge, says Edward Keystone, director of advanced therapeutics in arthritis at Mount Sinai Hospital in Toronto, "we're targeting every element of this disease from start to finish." The new drug Arava, for example, created by the Kansas City, Mo., firm Hoechst Marion Roussel, stops white cells from reproducing. Enbrel, a genetically engineered medication from Seattle-based Immunex, works by sopping up a tumor-killing cytokine called tumor necrosis factor before it can issue its call for reinforcements. The COX-2 inhibitors target prostaglandin production, limiting pain and inflammation. And the blood-filtration device, invented at Cypress...