Amersham Int Confirms In Talks With P&U

UK-based Amersham International has confirmed that it is in discussionswith Pharmacia & Upjohn with regard to the possible merger of its life sciences business with Pharmacia Biotech, the life sciences business of P&U.

It is thought that the talks are well advanced and that Amersham International could make a full announcement about the merger at its meeting on June 10 in London to report on the financial year ended March 31.

Rumors spread about the talks after the publication of an article in a Swedish newspaper on May 30 suggested a merger was imminent, sending Amersham's share price up to L13.92 ($22.84), a gain of 92.5 pence. Amersham then issued a brief statement confirming that it is in negotiations with P&U, in keeping with London Stock Exchange requirements.