Monday, August 22, 1994
Biotech pipeline by acquisition
The combination of American Cyanamid and American Home Products, beyond creating the world's fourth largest drug company, also will bring Immunex Corp. and Genetics Institute Inc. under the same umbrella.
American Home, which already owns more than 65 percent of Cambridge, Mass.-based GENIZ, will assume Cyanamid's majority stake in IMNX after the pharma merger, which Cyanamid agreed to last week.
American Home spokesperson Peter Warrick told BioCentury that the company has no plans to merge GENIZ and IMNX in the near term, although it believes that benefits can be derived from closer cooperation between the two companies. He declined to elaborate.
No program cuts planned
Nor does the pharma company have any immediate plans to eliminate