DuPont buys out Merck

Article Abstract:

DuPont Co. announced that it will acquire DuPont Merck Pharmaceutical Co., a joint venture with Merck & Co. since 1991, for $2.6 billion. DuPont Merck Pharmaceutical will bear the new name of DuPont Pharmaceuticals when the deal is completed in July 1998. The company's 4,200 workers, about 1,600 of whom are in Delaware, will become DuPont employees. DuPont Merck, which had $1.3 billion in sales in 1997, has developed leading drugs in blood-clot prevention, Parkinson's disease and alcohol dependency. Among its most promising drugs in development is Sustiva, an anti-HIV treatment for AIDS.

Comment:

Will acquire DuPont Merck Pharmaceutical Co, a joint venture with Merck & Co since 1991, for $2.6 billion

Asset sales & divestitures, Acquisitions & mergers, Merck & Company Inc.

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DuPont puts stock in global security force

Article Abstract:

DuPont Co. employee Jerry Forest is grateful for the security system the firm provides to its workers and employees. The firm employs an international team to protect around 35,000 of its workers and their families from political unrest in Indonesia, organized crime in Russia and kidnapping in Mexico, and other similar concerns. According to Forrest, he and his family could have died in the recent political chaos in Indonesia if not because of the firm's security system. Forrest and his family, and 150 others were evacuated from Indonesia by DuPont through its international security team.

Comment:

Employee Jerry Forest is grateful for the security system the firm provides to its workers and employees

Personnel administration

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DuPont Merck sued over licensing deal

Article Abstract:

DuPont Merck, a manufacturer of pharmaceutical preparations based in Greenville, DE, faces a lawsuit filed against the company by Cytogen Corp. of Princeton, NJ, over the former's inability to comply with the terms of a licensing agreement. The lawsuit alleges that DuPont Merck violated the agreement when it refused to market the Quadramet bone cancer drug, which was developed by Cytogen. Under the agreement, Cytogen will seek approval for the drug's distribution while DuPont will be charged with its exclusive marketing.

Comment:

Files lawsuit against DuPont Merck over its inability to comply w/ terms of licensing agreement

Legal issues & crime, Drugs & Pharmaceuticals, Pharmaceutical and Medicine Manufacturing, DuPont Merck Pharmaceutical Co., Cytogen Corp.

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