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Pfizer-Pharmacia Fallout Gives Celltech A CEO

New York, NY - One certain consequence of the nearly $60 billion acquisition of Pharmacia by Pfizer: executive-suite cleaning. The first bigwig out the door is Dr. Gran Ando, who headed up Peapack, N.J.-based Pharmacia's research and development operations. Today, Celltech, one of Europe's biggest biotechnology companies, announced Ando as its new chief executive.

"You will see that the e......

Full article >>> linical trials, and is being co-developed by Merck (nyse: MRK). A drug licensed into Pharmacia's pipeline from Altana (nyse: AAA) will compete directly with Celltech's asthma product.

Celltech's sales come mainly from aging products--the biggest is a cough medicine--that it bought to allow it to keep running without infusions of venture capital. "A couple of years ago Celltech made the st......

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Source:wistechnology.com By Matthew Herper, Forbes.com 04/28/03


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