Applied Bioscience International Inc. said Monday that it hasconsolidated into one organization three major companies inthe phamaceutical, consumer product and chemical contractresearch areas.
Pharmaco, Life Science Research and Bio/dynamics will operateunder a new company name, Pharmaco-LSR. Grover C. Wrenn,president and chief executive officer of Applied Bioscience ofArlington, Va., said the anticipated restructuring costsassociated with the formation of Pharmaco-LSR were includedin a $4 million reserve the company announced in December.
Pharmaco-LSR will be able to provide complete, global,seamless product development services to pharmaceutical,industrial, chemical and agrochemical companies, AppliedBioscience said.
Applied Bioscience's stock (NASDAQ:APBI) closed Monday at$8.38, down 38 cents a share.
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