Word: hoffmann
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...capital structure will bolster a company war chest that already holds $4 billion in cash. The money will come in handy at a time when international pharmaceutical giants are scrambling to join forces. Hoffmann-La Roche, whose strong suit is prescription products, still smarts from its failure last year to acquire New York City-based Sterling Drug, the maker of Bayer aspirin, Phillips milk of magnesia and other popular over-the-counter brands. Sterling spurned the Hoffmann-La Roche offer and sold out to Eastman Kodak instead. "We wanted primarily to establish ourselves in the American over-the-counter market...
Confronted by the high cost of research, expiring patents and the explosive growth of generic drugs, many pharmaceutical companies will step up efforts to broaden their global reach through mergers or cooperative ventures. But such pressures were few in 1896, when Hoffmann-La Roche was formed in Basel and began producing a cough syrup called Sirolin. The company prospered at first but then almost went broke during World War I because one of its important markets was revolution-torn Russia. Fearing a Nazi invasion in the 1930s, Hoffmann-La Roche created a twin Canadian-based company called Sapac...
Despite the capitalization changes, Hoffmann-La Roche is certain to retain the air of genteel mystery that has long surrounded it. Control will remain in the hands of the Basel-based Sachers. The family, one of Switzerland's leading cultural benefactors, is headed by Maja Sacher, 93, and her second husband Paul, 83. Maja Sacher's first husband, Emanuel Hoffmann, son of the company's founder, died in a car crash in 1932. A prominent patron of modern art, Maja Sacher has endowed Basel's museums with works by 20th century masters. Paul Sacher, an energetic conductor, has sponsored scores...
...years ago, the Sacher family called in Gerber, who headed the Zurich Insurance Co., to take over Hoffmann-La Roche, whose Valium profits had tranquilized it into lethargy. He streamlined the administration, production and research and set out to find a new generation of superstar drugs. The antibiotic Rocephin, which had worldwide sales last year of $445 million, is currently the firm's largest-selling product. Valium, though, remains the second-best seller. Last week the company reported that 1988 profits had risen to $389 million, up 33% from the previous year, on sales of $5.3 billion. Now that Hoffmann...
...year ago Hoffmann-La Roche bearer shares traded at $129,000 and Baby Roche...