Schering-Plough to Sell Maybelline: In another sign...
From Times Staff and Wire Reports
Schering-Plough to Sell Maybelline: In another sign of the fierce competitive forces now shaping the global pharmaceutical industry, Schering-Plough Corp. said it would sell its Maybelline cosmetics franchise, the last of the big mass-market cosmetics businesses to be put on the block. Schering-Plough said it would sell Maybelline, possibly to the unit’s management, to focus on its prescription and over-the-counter drug, personal-care and vision-care businesses. Analysts estimate Maybelline could fetch $420 million to $560 million, or 1.5 to 2 times its annual sales.
