Advertisement

Also. . .

Share

* In a surprise move, Swiss drug maker Roche Holding voluntarily withdrew its Posicor treatment for high blood pressure and angina from the world market. The world’s sixth-biggest drug maker said Posicor triggered side effects when combined with many commonly used drugs, and long-term clinical trials showed that it was no more effective than a placebo in treating congestive heart failure.

* Revlon Inc., the nation’s largest maker of mass-market cosmetics, said it will sell its 85% stake in Cosmetic Center Inc. to exit the retail business and will take a second-quarter charge of $15 million as a result. Revlon also said it bought closely held A.P. Products Ltd., a New York-based maker of ethnic hair-care products such as African Pride, All-Ways Natural and 911. The move would give Revlon 10% of the ethic hair-care market, adding to its brands such as Herba-Rich and Fabulaxer. Terms were not disclosed.

* Coca-Cola Co., the world’s largest soft drink maker, said it extended its marketing contract with the National Basketball Assn. for as long as 100 years. Rival PepsiCo Inc. has added the Indianapolis Motor Speedway, the Anaheim Angels and New York Mets this year. The agreement, which gives Coca-Cola the right to call its Sprite soda the league’s official soft drink, will be renegotiated every four years for the next century, the company said. Other terms, including any payments to the NBA, weren’t announced.

Advertisement

* Lucent Technologies Inc., the largest U.S. maker of phone equipment, said it will buy SDX Business Systems, a British maker of digital communications systems, for $202 million.

Advertisement