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Biotech / Medical : Munch-a-Biotech Today -- Ignore unavailable to you. Want to Upgrade?

To: Biomaven who wrote (132)	2/10/1999 2:20:00 PM
From: Vector1	Read Replies (1) \| Respond to of 3158

Potential Biotech buyer? -- NEW YORK, Feb 10 (Reuters) - Pharmacia & Upjohn <PHU.ST> <PNU.N> (P&U) Chief Executive Fred Hassan said on Wednesday his company intended to begin acquiring other drug companies as soon as this year to propel P&U to its "next phase" of growth. Hassan told Reuters the shift to acquisitions would be a major change for his Swedish-U.S. drug company, adding P&U had made no major acquisitions since the company was created in 1995 through the merger of Sweden-based Pharmacia and Upjohn of the United States. "This will be a change because up until now P&U was trying to get its own act together. Now that we have a top management team in place we are able to absorb acquisitions," Hassan said, adding it would do so armed with "a strong balance sheet." "We will be a very active company in the deal flow. We are going to be very flexible and very fast on our feet when opportunities arise. We will be going into the next phase of our company's growth," Hassan said. MORE Rtr 12:56 02-10-99 Story 2114