Word: maker
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Dates: during 1980-1989
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When the tranquilizer Valium became the most frequently prescribed drug of the stressed-out 1970s, F. Hoffmann-La Roche reached the peak of good health. Thanks largely to Valium and its sister sedative, Librium, the Swiss-based Hoffmann-La Roche became the No. 1 maker of prescription pharmaceuticals and one of the most profitable companies on earth. But lulled by the success of Valium, whose U.S. patent expired four years ago, the company failed to keep pace in the '80s with such aggressive rivals as U.S.-based Merck and Swiss neighbors Sandoz and Ciba-Geigy. Symbolic of Hoffmann-La Roche...
...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," recalls Hoffmann-La Roche Chairman Fritz Gerber, 60, whose...
...Center. What dismayed Knight was the announcement last week by Control Data, based in Minneapolis, that it would halt its money-losing six-year foray into the growing world market for supercomputers. The decision leaves Cray Research, its crosstown rival and the industry leader, as the only U.S. supercomputer maker at a time when Japan's industry is moving vigorously into the field...
Tums, meet Tagamet. The race to create global pharmaceutical companies inspired a transatlantic merger last week. London's Beecham Group, maker of Tums antacid, and Philadelphia's SmithKline Beckman, developer of the anti- ulcer drug Tagamet, said they will form a company with more than $6.7 billion in total sales. The merged corporation, to be renamed SmithKline Beecham, will rank No. 2 in the pharmaceutical world to New Jersey-based Merck...
...during the last two and a half months, Bush has not fulfilled his duties as the nation's top policy-maker. Instead of offering a broad platform, or even urging specific legislation, Bush has limited himself to managerial jobs, reacting to specific problems but rarely taking the initiative...