STERLING DRAWS 2.9 TIMES 1993 SALES
This article was originally published in The Tan Sheet
STERLING DRAWS 2.9 TIMES 1993 SALES in SmithKline Beecham's acquisition offer. SmithKline's purchase of Sterling Winthrop from Kodak for $2.93 bil. in cash was described by SB as the "most significant purchase ever made in the OTC industry." Sterling had worldwide sales of $1.006 bil. in 1993 and U.S. OTC sales of about $630 mil. ("The Tan Sheet" May 9, p. 4).
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