OTHER NEWS - Sept. 21, 1996
Times Staff and Wire Reports
American Home Products to Buy Animal-Health Unit: The Madison, N.J.-based company said it will purchase the Solvay unit for about $450 million, which would make it one of the world’s biggest makers of drugs and vaccines for livestock and pets. The purchase would catapult American Home Products Corp., maker of over-the-counter painkiller Advil and the hormone-replacement therapy Premarin, to the top ranks of an $8-billion-a-year market, after Pfizer Inc. and Merck & Co. Solvay, Belgium’s biggest chemical company, said it will concentrate its drug business on human health and look for acquisitions, particularly in the U.S.
