Expansion
In 1988, Chiron formed a joint venture company, called Mimesys Inc., with Johnson & Johnson and the Warner-Lambert Company, to develop the next generation of biotech drugs. The following year Chiron recruited Gregory Lawless, who had come from DuPont, to take over as president and CEO. This led to additional buying that included the acquisition of Du Pont in partnership with Ortho Diagnostic Systems; Munich based Adatomed GmbH; and a merger with fellow biotech company Cetus Corporation after Cetus failed to get approval for its drug Interleukin-2. Hollings Renton of Cetus became president and CEO when Gregory Lawless agreed to leave. Mr Renton resigned in 1992 and was replaced by Sean Lance, from Glaxo Wellcome in 1998, and finally by Howard Pien from GlaxoSmithKline in 2003. After the acquisition of Cetus, Chiron split its operations among five entities: Cetus Oncology, for cancer drugs; the Biocine Company, for vaccines; Chiron Diagnostics, for blood screening and other diagnostic tests (later sold to Bayer AG for $1.1 billion); Chiron Intraoptics, for eye surgery, and Chiron Technologies, for research and development.
Read more about this topic: Chiron Corporation
Famous quotes containing the word expansion:
“Every expansion of government in business means that government in order to protect itself from the political consequences of its errors and wrongs is driven irresistibly without peace to greater and greater control of the nation’s press and platform. Free speech does not live many hours after free industry and free commerce die.”
—Herbert Hoover (1874–1964)
“The fundamental steps of expansion that will open a person, over time, to the full flowering of his or her individuality are the same for both genders. But men and women are rarely in the same place struggling with the same questions at the same age.”
—Gail Sheehy (20th century)
“We are caught up Mr. Perry on a great wave whether we will or no, a great wave of expansion and progress. All these mechanical inventions—telephones, electricity, steel bridges, horseless vehicles—they are all leading somewhere. It’s up to us to be on the inside in the forefront of progress.”
—John Dos Passos (1896–1970)