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Alza

This article was originally published in The Tan Sheet

Executive Summary

Takes one-time, $28 mil. write-off in the fourth quarter of 1993 due to the "scale-up of the production of certain products and to excess transdermal manufacturing capacity and equipment" at the company's Vacaville, Calif. facility. Alza noted that sales of Nicoderm transdermal smoking-cessation products, which are marketed by Marion Merrell Dow, declined during 1993. The write- off is expected to result in a net loss for fourth quarter 1993. Separately, Alza names Exec VP-Business Development Adrian Gerber exec VP-commercial development, and VP-Corporate Planning and Analysis Bruce Cozadd as VP and chief financial officer
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