American Home's diet-drug settlement is attacked

Article Abstract:

American Home Products Corp. (Parsippany, NJ) is being criticized for the $3.7 billion it offered to settle a class-action lawsuit. Lawyers representing those waging the suit said the amount would shortchange those who have become seriously ill from the company's fen-phen diet drug.

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Calif. firm to acquire drugmaker

Article Abstract:

Corona, Calif.-based Watson Pharmaceuticals Inc, will acquire Florham Park, NJ-based Schein Pharmaceutical Inc. for about $644.2 million cash and stock. Schein, which owns Cherry Hill, Penn.-based Marsam Pharmaceuticals Inc., has been under attack from the US Food and Drug Administration for improper production procedures.

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Glaxo-SmithKline deal

Article Abstract:

The proposed merger between SmithKline Beecham PLC and Glaxo Wellcome PLC has been approved by the U.S. Federal Trade Commission. The $68 billion deal will create the second-largest pharmaceutical manufacturer in the world.

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