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In Brief: Upjohn-Pharmacia merger

This article was originally published in The Rose Sheet

Executive Summary

Upjohn-Pharmacia merger: Stock swap agreement announced Aug. 20 by the two pharmaceutical companies would create $6.8 bil. global business, including approximately $400 mil. in OTC drug sales. In announcing the deal, both companies stressed the strategic importance of the OTC business for Rx-to-OTC switches. Upjohn reported that its Rx-to-OTC switch application for the baldness remedy Rogaine (minoxidil) is still active at FDA. An FDA advisory committee recommended against approving the switch in July 1994 ("The Rose Sheet" Aug. 1, 1994, p. 11)...
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