Cortecs pays for its lack of diversity

Article Abstract:

Cortecs Ltd, the British pharmaceuticals company, lost 95% of its value by relying on one product for its livelihood. Former chief executive Glen Travers believed that an osteoporosis drug called Macritonin would lead Cortecs to riches. Cortecs spent $80 million of the $240 million raised from stockholders in Australia and Europe on the drug. Human trials in 1997-98 failed. Cortecs dropped Macritonin and cut its research expenditure from $57 million to $17 million, sold non-core assets, and reduced staff. New chief executive Phil Gould expects Cortecs to be profitable again in 2003 or 2004.

United Kingdom, Pharmaceutical Preparation Manufacturing, Pharmaceutical preparations, Statistical Data Included, Management, Biotechnology industry, Pharmaceutical industry, Biotechnology industries, Drugs, Beliefs, opinions and attitudes, Travers, Glen, Gould, Phil, Cortecs Ltd.

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Wesfarmers lights a fuse under rival Orica

Article Abstract:

Wesfarmers is targeting rival Orica by building an ammonium nitrate plant. Wesfarmers attempted to acquire Orica, formerly ICI Australia, in 1997. Although Wesfarmers officials deny an agenda, observers speculate that the A$235 million plant is part of a plan to drive Wesfarmers stock past Orica's slipping value, making another acquisition attempt likely.

Care and treatment, Domestic cats, Cats

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Holmes a court junior's next role: beef baron

Article Abstract:

The management strategies of Peter Holmes, chief executive of the Australian Agriculture Company, are examined in detail. He is floating the company on the stock market and plans to invest the proceeds in beef.

Animal Slaughtering and Processing, Meat Products, Beef & Veal, Investments, Biography, Beef industry, Holmes, Peter, Australian Agricultural Company Ltd.

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