ICI transfers most of its research to new Zeneca biosciences company

Article Abstract:

Imperial Chemical Industries (ICI), a British conglomerate, will divide its research into bulk chemicals and bioscience between two new companies to be created by the demerger of ICI. Zeneca Group will take over ICI's pharmaceutical, agrochemical and seed research and 2/3 of ICI's $1 billion research budget. A smaller ICI will take over research on specialized plastics, replacements for chlorofluorocarbons and other chemicals. However, ICI's shareholders must approve the plan before it can go into effect.

United Kingdom, Chemical industry, Imperial Chemical Industries PLC, Zeneca Group PLC

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Glaxo bid 'reflects changing patterns of drugs research.'

Article Abstract:

Glaxo, the international drug giant based in the UK, announced its plans of acquisition of its rival company, Wellcome plc. Glaxo officials say that the joint venture called Glaxo Wellcome will increase drug research and introduce innovative products in the global market. Despite job losses, biomedical research will greatly benefit from the gaining of 40% shares in Wellcome by Glaxo.

Innovations, Pharmaceutical research, Wellcome, Glaxo Pharmaceuticals UK Ltd.

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