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BUSINESS
March 31, 1993 | By Marian Uhlman, INQUIRER STAFF WRITER
Ever so quietly, McNeil Pharmaceutical this year is eliminating 350 jobs at its headquarters in Spring House, Montgomery County, and moving many of them to Raritan, N.J. There, the Johnson & Johnson subsidiary will consolidate its business operations with Ortho Pharmaceutical, the Johnson & Johnson subsidiary that makes birth control pills and other drugs, said Nancy Collins, a McNeil spokeswoman. The new firm will be called Ortho-McNeil Pharmaceutical. To be transferred to New Jersey or cut will be about 70 percent of the Spring House workforce.
NEWS
July 13, 1993 | By Barbara J. Richberg, INQUIRER STAFF WRITER
Thomas H. Odiorne, 52, a New Hope resident who was a top executive at Johnson & Johnson before leaving to help lead a fledgling biotech company, died Saturday at Doylestown Hospital. Mr. Odiorne started in 1969 as a sales representative at McNeil Pharmaceuticals, a Johnson & Johnson subsidiary in Spring House, Montgomery County, and worked his way up to the top. He was McNeil's president from 1985 to July 1989. In 1989, he went to Johnson & Johnson corporate headquarters in New Brunswick, N.J., to become president of the International Cilag-Ortho-McNeil group.
BUSINESS
December 7, 1987 | By Ron Wolf, Inquirer Staff Writer
Johnson & Johnson will market and distribute three imaging agents being developed by Centocor Inc., the biotechnology firm in Malvern, under an agreement between the companies. The arrangement provides Centocor with a new source of income and badly needed marketing muscle. Johnson & Johnson, the health-care company based in New Brunswick, N.J., already has made an initial payment to Centocor for marketing rights to the products in the United States and several small foreign countries and will make additional payments as bench marks in the development process are achieved.
NEWS
November 12, 2005 | By Sally A. Downey INQUIRER STAFF WRITER
William H. Ashton, 87, of Huntingdon Valley, a scientist who patented products for the operating room, the bathroom and babies' bottoms, died of heart failure last Saturday at home. For more than 57 years, Mr. Ashton was associated with Johnson & Johnson as a research scientist and, after retiring in 1983, as a consultant. In 1949 he developed dental floss and dental tape for Johnson & Johnson and 30 years later patented flavored floss and tape. In the 1950s he invented resorbable sutures and later developed resorbable gauze for liver surgery.
BUSINESS
January 17, 2003 | By Linda Loyd INQUIRER STAFF WRITER
Johnson & Johnson said yesterday that it would acquire 3-Dimensional Pharmaceuticals Inc., of Yardley, in a cash deal valued at $88 million. The pharmaceutical and health-care products giant will pay $5.74 for each 3-Dimensional share, which closed at $5.64 yesterday on the Nasdaq stock market. The announcement sent the small company's shares soaring $2.61, or 86.1 percent, at yesterday's close. 3-Dimensional Pharmaceuticals has drugs in early-stage research for treating cardiovascular disorders, oncology and inflammation.
BUSINESS
October 10, 1989 | By Marian Uhlman, Inquirer Staff Writer
ICI said yesterday that it would sell its U.S. over-the-counter drug business to a joint venture of Merck & Co. and Johnson & Johnson for more than $450 million. The deal will contribute about $125 million in annual sales to the seven- month-old Johnson & Johnson-Merck Consumer Pharmaceuticals Co., which has yet to market any of its own products. The bulk of the revenue will be derived from the Mylanta line of antacid products and the Mylicon line of anti-gas products. In return, ICI will receive a cash payment and unspecified obligations, plus the U.S. rights to Elavil, a Merck antidepressant launched in the early 1960s.
NEWS
April 18, 2011 | By David Sell, INQUIRER STAFF WRITER
The existence of talks aimed at a possible merger of Johnson & Johnson and Synthes were confirmed Monday by Synthes, which has major operations in Chester County. Synthes is a global medical device manufacturer with headquarters in Switzerland and West Chester, but also has four other facilities in West Chester and a fifth in Paoli. The company is one of the dominant players in the field of repairing bones, especially in the spine and those broken by trauma. That means plates and screws, compounds and medical power tools.
BUSINESS
December 2, 2011 | By David Sell, Inquirer Staff Writer
Like many people, Michel Orsinger works for a company going through dramatic change because it has been acquired by a larger company. Unlike many people, Orsinger helped arrange the acquisition. Unlike almost anyone, Orsinger is getting $51.9 million for leaving the old company and a multimillion-dollar pay package from the new company. His new base salary of $700,000 will be a cut in pay from his old firm, but he will have some lucrative bonus opportunities. If he can make do clipping coupons for three years, he will get a stock package worth $17.2 million.
NEWS
August 9, 2011
Synthes Inc., which is being purchased by Johnson & Johnson for $21.3 billion, said second-quarter sales rose 11.2 percent, to $992 million. Synthes, a medical device maker, is based in Switzerland but has headquarters in the West Chester area. The company did not report net income for the quarter, but it said profit for the first six months of 2011 rose 7 percent from the same period a year ago, to $454.4 million, or $3.83 per share, on sales of $1.98 billion. J&J and Synthes announced their deal in April.
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