Searching for the Right Formula in the Late 1990s. Chiron Corporation is a leading biotechnology company focusing on cancer, infectious diseases, and cardiovascular diseases. Previously undetected, the hepatitis C virus had caused approximately 150,000 people each year to become ill through infected blood transfusions.
A few months later, the FDA refused to grant approval to a treatment for Lou Gehrig's disease that Chiron had developed in partnership with Cephalon Inc. In the area of biopharmaceuticals, Chiron's therapeutic drugs include Proleukin, used to treat metastatic kidney cancer and metastatic melanoma, and Betaseron, a treatment for a specific form of multiple sclerosis. Finally, we can read about how these great companies came about with Company Histories.. Biocine began the first phase of testing its AIDS vaccine under the sponsorship of the AIDS Vaccine Evaluation Group and the National Institute for Allergies and Infectious Disease. The addition of Tobi to its major commercial products and the bolstering of its product pipeline would provide a significant boost to Chiron. Lance's new direction for the company appeared to be paying off by the turn of the millennium. Chiron Corporation is a leading biotechnology company focusing on cancer, infectious diseases, and cardiovascular diseases. Chiron was founded by Dr. William Rutter, a biotechnology researcher at the University of California in San Francisco. Chiron researchers also continued to study hepatitis, and, in 1988, they discovered the hepatitis C virus. Chiron further bolstered its operations in 1995 through two acquisitions. The next two years, however, proved promising for the company. Chiron stepped in, continued testing Proleukin as the FDA had requested, and merged Cetus's projects with its own. Pending Food and Drug Administration (FDA) approval, Merck would market the vaccine and pay royalties to Chiron. Under the name Chiron Diagnostics, the division developed several blood tests to screen for various forms of hepatitis, and these tests were sold to blood banks and hospitals worldwide. The company is a leading provider of blood testing products used by the blood banking industry to screen donated blood, including widely used tests for hepatitis and HIV. We see them around but we don't know what goes on behind the scenes. In 1981, Rutter, Edward Penhoet, and Pablo Valenzuela founded Chiron Corporation, which they named after the centaur in Greek mythology who taught medicine to Asclepias, the first physician. Rather than see his best researchers work for other companies, Rutter chose to found his own biotechnology firm. 36. In the late 1970s, Rutter led a team of researchers that made an important breakthrough in the relatively new science of genetic engineering: equipping bacteria with the ability to produce limitless quantities of insulin. In October 1999 Menjugate was approved in the United Kingdom as a vaccine against meningococcal C disease, a deadly form of meningitis. Chiron was also one of the first biotechnology companies to post a profit, making $6.8 million in 1990. In 1984, Chiron became the first to clone a genome (genetic skeleton) of an AIDS virus called HTLV-3, the second step in developing a method of detecting and some day preventing infection by HIV. Chiron Diagnostics, the joint venture with Ortho, absorbed Chiron's research on the HIV virus and began developing various forms of testing for that and other viruses. In 1996 and 1997 Chiron suffered a series of setbacks. Copyright (c) 2019 Company-Histories.com. Lance also more tightly focused the company's research efforts, emphasizing blood-screening applications and a handful of the most promising new drugs, as well as attempting to find new uses for current drugs, including Proleukin and Betaseron. Its cancer research department was merged with Cetus's oncology business under the umbrella of Chiron Therapeutics. Corsa Verwaltungsgesellschaft GmbH (Germany); Chiron Behring GmbH & Co (Germany); Chiron Behring Verwaltungsgesellschaft GmbH (Germany); Chiron S.p.A. (Italy); Instituto Vaccinogen Pozzi S.p.A. (Italy); Biocine S.A.R.L. In the area of biopharmaceuticals, Chiron's therapeutic drugs include Proleukin, used to treat metastatic kidney cancer and metastatic melanoma, and Betaseron, a treatment for a specific form of multiple sclerosis. All rights reserved. Company profile page for Chiron Corp Ltd including stock price, company news, press releases, executives, board members, and contact information By 1991, Chiron's operations had grown to include a complex network of joint ventures and marketing agreements with several pharmaceutical companies. The FDA had refused to approve use of the drug in the United States, however, and Cetus's chairperson resigned his post, leaving the company without direction and with a product whose image had been greatly tarnished. Cetus's major product was a highly touted cancer treatment called Proleukin or interleukin-2, which its EuroCetus division had been selling in Europe for several years. Novartis AG, the Swiss company that resulted from the December 1996 merger of Ciba-Geigy and Sandoz Limited, held about 44 percent of Chiron's common stock and could, after January 5, 2001, raise its stake or initiate an outright buyout. While a lengthy search for a successor dragged on, Chiron sold its ophthalmic business to Bausch & Lomb Inc. in December 1997 for about $300 million. In the spring of 1989, Chiron raised $52 million through an equity offering and sold an eight percent share to Ciba-Geigy.
In November 1998 the bulk of Chiron Diagnostics was sold to Bayer AG for about $1 billion in cash. In March the company purchased for $95 million Johnson & Johnson's Iolab division, maker of eye-surgery equipment, thus expanding its ophthalmic business. The FDA said that the companies, who had spent $130 million on the drug, had failed to prove its effectiveness. Primarily due to heavy outlays in research and development, Chiron posted losses for eight straight years. Principal Subsidiaries: Cetus Generic Corporation; Chiron B.V. (Netherlands); Cephalon Chiron B.V. (Netherlands); Chiron Blood Testing B.V. (Netherlands); Chiron Blood Testing S.a.r.l. In 1983, Chiron made another breakthrough when it became the first to clone epidermal growth factors--a genetically engineered protein that controls the way a wound heals.
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