Upjohn Will Stay in South Africa: Shareholders...
Upjohn Will Stay in South Africa: Shareholders defeated a proposal calling for Upjohn Co. to sever South African ties, but the pharmaceutical company said it may sell one of its two South African plants because of poor sales. Upjohn President Theodore Cooper said at the annual meeting he hopes a buyer is found by summer for Asgrow SA, which develops vegetable seeds and employs about 100 people. Upjohn doesn’t plan to phase out its other South African subsidiary, the Upjohn Ltd. pharmaceutical firm, as long as it meets the company’s “social objectives and business objectives,†Cooper said.
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