Zeneca
| Company type | Public limited company |
|---|---|
| Industry | Pharmaceuticals |
| Founded | June 1993 |
| Fate | Merged with Astra AB to form AstraZeneca plc in 1999 |
| Headquarters | London , United Kingdom |
| Products | Casodex, Nolvadex, Zoladex, Tenormin |
Zeneca Group PLC was a British multinational pharmaceutical corporation with its main office located in London, United Kingdom. The company originated in June 1993 following the separation of the pharmaceuticals and agrochemicals sectors from Imperial Chemical Industries, resulting in an independent firm publicly traded on the London Stock Exchange.
In 1999, Zeneca combined with the Swedish pharmaceutical company Astra AB, creating the entity known as AstraZeneca plc.
The company concentrated primarily on oncology treatments, offering significant products such as Casodex, Nolvadex, and Zoladex. Additionally, its range included cardiovascular medications like Tenormin.
Name
The designation "Zeneca" was a coined term developed by the branding agency Interbrand. The agency’s brief was to devise a name beginning with a letter from either end of the alphabet, that was easy to pronounce, contained no more than three syllables, and avoided any negative connotations across different languages.
History
In December 1994, Zeneca acquired a 50% stake in Salick Health Care, a US-based cancer care provider, valuing the company at approximately US$440 million. By May 1996, Zeneca divested its textile colourants division to German firm BASF. On 28 March 1997, Zeneca completed the acquisition of the remaining half of Salick Health Care. Later that year, in December 1997, it purchased the US fungicide operations of Ishihara Sangyo Kaisha along with global rights to four fungicides, herbicides, and pest control products for around US$500 million.
Tom McKillop, who led Zeneca’s pharmaceutical division, was appointed chief executive officer in May 1998, succeeding Sir David Barnes who transitioned to the role of non-executive chairman. In November 1998, Zeneca revealed intentions to divest its Specialties division, which comprised biocides, industrial colours, life science molecules, performance chemicals, intermediates, and resins. On 11 December 1998, Zeneca and Astra AB declared a merger valued at £48 billion.
In February 1999, Zeneca announced plans to initiate legal action against the US Food and Drug Administration concerning approval granted to Gensia Sicor for manufacturing a generic form of its anaesthetic product Diprivan. The merger with Astra AB was finalized in April 1999, resulting in the establishment of AstraZeneca plc.