Wellcome faces the world

Article Abstract:

UK-based firm Wellcome has emerged as one of the most successful pharmaceutical companies in the world. With an 80% market share, the firm currently dominates the anti-viral market mainly because of its drugs Zorivax for herpes and Retrovir for AIDS. Wellcome has started gearing up to become a truly commercial organization after years of being a part of the world's biggest medical charity, Wellcome Trust. In Jul 1992, the charity's stake in the company dropped to 42% from 73.5% when it sold off 270 million shares to investors from all over the world. Wellcome acquired a new management team and a new CEO, John Robb. To increase the firm's profitability, the new team has streamlined operations by eliminating non-core businesses, decreased the number of products being developed, implemented cost-cutting measures and placed greater emphasis on the firm's marketing efforts.

Pharmaceutical preparations, Pharmaceutical industry, Wellcome PLC

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The Ecu gains currency

Article Abstract:

The attainment of European Monetary Union (EMU) will rest on the ability of all member states in the European Community (EC) to facilitate as smooth a transition as possible from the use of existing national currencies to that of the European Currency Unit (Ecu). National governments and institutions in the EC intent on tackling the currency problem are experiencing difficulty due to the underlying political and economic problems interrelated with EMU. The European Monetary Institute is the EC body being given the responsibility of ensuring a smooth transition to Ecu of all member states so as to avoid the risk of inducing inflation resulting from the rapid substitution of currencies. Countries currently experiencing high inflation are expected to gain the most from monetary union.

Planning, Economic aspects, Cover Story, Euro (Currency), Single European market, International finance

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