Pharmacia was originally a government owned Swedish pharmaceutical company. Sold to private interests in the 1990s, it was first merged with the American pharmaceutical company Upjohn and headquartered in London. The merged company Pharmacia & Upjohn was there after bought by the American bioindustry and medical company Monsanto. The resulting conglomerate took the name of Pharmacia Inc and spun off its agricultural chemical division under the name Monsanto.
In 2002 Pharmacia was bought by Pfizer Inc., and the name Pharmacia was dropped.
In 2004, the allergy-diagnostic division of legacy Pharmacia was sold of. 'Pharmacia Diagnostics' is now the only remaining use of the Pharmacia business-name.
External links
Pfizer Pharmaceuticals - company announcement of proposed acquisition (http://www.pfizer.com/are/investors_reports/annual_2002/p2002ar50b.htm)
Monsanto and Pharmacia said they expected to achieve annual cost savings of more than $600 million, some of which would be reinvested in the company.
Pharmacia Chief Executive Fred Hassan, credited with improving profits at the drug company since he took over as chief executive in 1997, would be president and CEO of the combined company.
Monsanto and Pharmacia said they planned to offer up to 19.9 percent of the agribusiness unit in an initial public offering, and would operate it as a separate legal entity with its own stock and board of directors.
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