News

US aerospace giant Boeing has unveiled a record $10 billion (£6.1 billion) share buyback and 50 per cent hike in the dividend.

Monsanto $27bn merger gets cool reception

THERE WAS only a lukewarm reception on Wall Street yesterday to news confirming the merger of Monsanto with its US-Swedish rival Pharmacia & Upjohn to create a new drugs giant. As several brokerages downgraded Monsanto from a "buy" to "neutral", shares in the company turned downward.

Monsanto $26bn merger gets cool reception

THERE WAS only a lukewarm reception on Wall Street yesterday to news confirming the merger of Monsanto with its US-Swedish rival Pharmacia & Upjohn to create a new drugs giant. As several brokerages downgraded Monsanto from a "buy" to "neutral", shares in the company turned downward.

Monsanto merger with P&U nears

MONSANTO, THE pharmaceuticals giant and Pharmacia & Upjohn, the Swedish drugmaker, are believed to be close to agreement on a mooted $55bn merger following a series of top level meetings in London over the weekend.

Outlook: Leschly to go

SO FAREWELL then, Jan Leschly, Britain's first pounds 15m-a-year chief executive. London's corporate scene will be a greyer and duller place without the former Danish tennis star to entertain us. But, hey, who cares if it hastens the eventual, and in the City's view, inevitable, merger between Mr Leschly's SmithKline Beecham and Glaxo Wellcome. That, in any case, was the stock market's reaction to final confirmation yesterday that Mr Leschly will be hanging up his racket at the AGM next April, six months earlier than his official retirement date.

On the Up: SmithKline Beecham

SMITHKLINE BEECHAM was back at the top of speculators' lists of likely takeover targets after an $80bn (pounds 49.4bn) battle for Warner-Lambert in the US rekindled expectations of industry consolidation.

Outlook: Drug consolidation

WITH PFIZER's $80bn bid for Warner Lambert, we seem to be entering the final end game of pharmaceutical industry consolidation. Sir Richard Sykes, chairman of Glaxo Wellcome, has long held the view that the industry will eventually boil down to five or six research and development powerhouses, with market shares of perhaps as high as 10 per cent each for the global market in prescribed drugs. Underneath them will be a larger number of smaller, more specialist bio-tech and drug discovery companies.

Glaxo mulls fresh SKB bid as merger mania sweeps industry

GLAXO WELLCOME is considering reopening talks over a pounds 100bn-plus merger with its arch-rival SmithKline Beecham in a bid to respond to the wave of consolidation sweeping the US drug industry.

The Investment Column: New drugs at Alliance Unichem make it an intoxicating buy

ALLIANCE UNICHEM, the drug wholesaler and retailer whose chairman is Kenneth Clarke, the former chancellor, has set its sights high. Things are going so well for the company, formed from an Anglo-French merger in 1997, that it reckons it can raise its market share from the current 16 per cent to 30 per cent in the next three to five years.

Firms race to find a Viagra for women

A GLOBAL race to develop the first effective treatment for sexual problems in women is under way, with a bonanza in prospect for the winner. Since the worldwide success of Viagra, the male impotence drug, multinational drug companies are vying to develop a treatment that will prove as appealing to women.

Focus: The billion-dollar fight for life

ALL HUMAN beings suffer from an incurable disease. It is called mortality. Although the condition is terminal there are increasing signs its early symptoms may be treatable. Ageing cannot be reversed but it may, perhaps, be delayed.

Avandia leads SmithKline to growth

SMITHKLINE BEECHAM, the pharmaceutical giant, is heading into a "phenomenal" growth cycle similar to that before the 1994 demise of its blockbuster ulcer drug Tagamet, its chief executive said yesterday.

A-Z of Employers PFIZER

Age: 150 in US, 48 in UK.
Latest stories from i100
Career Services

Day In a Page

A
Independent Travel
Pompeii, Capri & the Bay of Naples
Seven Cities of Italy
Burgundy, the River Rhone & Provence
Prague, Budapest and Vienna
Lake Garda
Minoan Crete and Santorini
Prices correct as of 15 May 2015
The Greek referendum exposes a gaping hole at the heart of the European Union – its distinct lack of any genuine popular legitimacy

Gaping hole at the heart of the European Union

Treatment of Greece has shown up a lack of genuine legitimacy
Number of young homeless in Britain 'more than three times the official figures'

'Everything changed when I went to the hostel'

Number of young homeless people in Britain is 'more than three times the official figures'
Compton Cricket Club

Compton Cricket Club

Portraits of LA cricketers from notorious suburb to be displayed in London
London now the global money-laundering centre for the drug trade, says crime expert

Wlecome to London, drug money-laundering centre for the world

'Mexico is its heart and London is its head'
The Buddhist temple minutes from Centre Court that helps a winner keep on winning

The Buddhist temple minutes from Centre Court

It helps a winner keep on winning
Is this the future of flying: battery-powered planes made of plastic, and without flight decks?

Is this the future of flying?

Battery-powered planes made of plastic, and without flight decks
Isis are barbarians – but the Caliphate is a dream at the heart of all Muslim traditions

Isis are barbarians

but the Caliphate is an ancient Muslim ideal
The Brink's-Mat curse strikes again: three tons of stolen gold that brought only grief

Curse of Brink's Mat strikes again

Death of John 'Goldfinger' Palmer the latest killing related to 1983 heist
Greece debt crisis: 'The ministers talk to us about miracles' – why Greeks are cynical ahead of the bailout referendum

'The ministers talk to us about miracles'

Why Greeks are cynical ahead of the bailout referendum
Call of the wild: How science is learning to decode the way animals communicate

Call of the wild

How science is learning to decode the way animals communicate
Greece debt crisis: What happened to democracy when it’s a case of 'Vote Yes or else'?

'The economic collapse has happened. What is at risk now is democracy...'

If it doesn’t work in Europe, how is it supposed to work in India or the Middle East, asks Robert Fisk
The science of swearing: What lies behind the use of four-letter words?

The science of swearing

What lies behind the use of four-letter words?
The Real Stories of Migrant Britain: Clive fled from Zimbabwe - now it won't have him back

The Real Stories of Migrant Britain

Clive fled from Zimbabwe - now it won’t have him back
Africa on the menu: Three foodie friends want to popularise dishes from the continent

Africa on the menu

Three foodie friends want to popularise dishes from the hot new continent
Donna Karan is stepping down after 30 years - so who will fill the DKNY creator's boots?

Who will fill Donna Karan's boots?

The designer is stepping down as Chief Designer of DKNY after 30 years. Alexander Fury looks back at the career of 'America's Chanel'