ALPHARMA announces additional post-combination management actions and that resulting net expense or income will not be material to 1995 results.FORT LEE, NJ, Sept. 26, 1995--(BUSINESS WIRE)--ALPHARMA INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (NYSE NYSE See: New York Stock Exchange :ALO) today announced additional management actions, expected to span the third and fourth quarters of 1995, related to the October 3, 1994 combination of the human pharmaceutical and animal health businesses of the Norwegian Norwegian associated in some way with Norway. Norwegian buhund, Norwegian sheepdog a medium-sized (26-40 lb), spitz-type dog with a short, dense coat in wheaten, black, red or sable, sometimes with black markings on the face, ears pharmaceutical company, Apothekernes Laboratorium, with NYSE listed A. L. Laboratories that formed ALPHARMA. The net result of these actions is not expected to be material to second half or full year 1995 earnings. In December 1994, the Company announced a number of management actions which included staff reductions, discontinuance Cessation; ending; giving up. The discontinuance of a lawsuit, also known as a dismissal or a non-suit, is the voluntary or involuntary termination of an action. DISCONTINUANCE, pleading. A chasm or interruption in the pleading. 2. of outside R&D projects and certain product line and facilities rationalizations as a first step toward realizing combination synergies and maximizing the overall position of the newly combined Company. The actions being taken over the second half of 1995 are a further step toward the achievement of the goals of the combination and include elimination of up to 130 positions company-wide, further efforts toward consolidation of operations in the Company s U.S. Pharmaceuticals Division and the utilization of substantial consulting resources focused primarily on accelerating the realization of certain combination benefits in the International Pharmaceuticals Division. As a part of the December 1994 management actions, the Company committed to disposing of its interests in an R&D company and discontinued dis·con·tin·ue v. dis·con·tin·ued, dis·con·tin·u·ing, dis·con·tin·ues v.tr. 1. To stop doing or providing (something); end or abandon: funding projects being performed for the Company. In this connection, the Company also announced today it has sold its minority equity position and certain other rights in this R&D company. The net result of all of the actions announced today is not expected to be material to second half or full year earnings because the resulting charges and expenses will be substantially, if not completely, offset by the income of approximately $6.5 million (pre-tax) from the transactions related to the R&D company. Due to required accounting, charges and expenses must be recorded over the third and fourth quarters while the income from the transactions related to the R&D company must be fully recorded in the third quarter. Commenting on the announcement, Einar Sissener, Chief Executive Officer, stated, "I continue to be confident about the growth prospects of ALPHARMA. The actions we are taking are further commitment on our part to achievement of the goals of the combination which include enhancing shareholder value by a continued focus on the building of sustainable market leadership positions. These actions will move us further along in realizing combination benefits and improving our overall competitive position. The benefits we expect to derive from these actions give us added confidence that the aggressive goals we have set for ourselves are achievable. As we go forward, we will continue to take those actions which we believe can substantially strengthen our long-term prospects." ALPHARMA is a multinational pharmaceutical company developing, manufacturing and marketing specialty generic and proprietary human pharmaceutical and animal health products. ALPHARMA is the largest manufacturer of generic liquid and topical topical /top·i·cal/ (top´i-k'l) pertaining to a particular area, as a topical antiinfective applied to a certain area of the skin and affecting only the area to which it is applied. top·i·cal adj. pharmaceuticals in the U.S., has an established and growing market position in finished pharmaceuticals in Europe and the Far East, is a basic manufacturer of important specialty antibiotics Antibiotics Definition Antibiotics may be informally defined as the subgroup of anti-infectives that are derived from bacterial sources and are used to treat bacterial infections. , and is recognized worldwide as a leading provider of animal health feed additives for poultry poultry, domesticated fowl kept primarily for meat and eggs; including birds of the order Galliformes, e.g., the chicken, turkey, guinea fowl, pheasant, quail, and peacock; and natatorial (swimming) birds, e.g., the duck and goose. and livestock livestock Farm animals, with the exception of poultry. In Western countries the category encompasses primarily cattle, sheep, pigs, goats, horses, donkeys, and mules; other animals (e.g., buffalo, oxen, or camels) may predominate in other areas. , and vaccines for farmed fish. CONTACT: ALPHARMA Inc. Iris D. Daniels 201-947-7774 or Morgen-Walke Associates Inc. Donna Stein Stein , William Howard 1911-1980. American biochemist. He shared a 1972 Nobel Prize for pioneering studies of ribonuclease. 212/850-5600 |
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