Under the terms of its licensing deal, Pharmacia (PHA) must return the $902 million-selling sleep aid Ambien to its developer, Sanofi-Synth?labo, this spring. That leaves a big sales hole.
Growth for the company's flagship $3.1 billion arthritis drug Celebrex slowed in 2001 after questions were raised about possible cardiovascular side effects.
Last year, the Food & Drug Administration delayed approval of injectable painkiller parecoxib and glaucoma treatment Xalcom pending more data.
Monsanto's (MON) agribusiness unit has been hurt by resistance to genetically modified seeds. Pharmacia will spin off its remaining stake in the business this fall.