Farmitalia Carlo Erba, one of Italy's oldest and best-known pharmaceutical trade marks for generations, is leaving the scene, reports the Marketletter's local correspondent. The trade name is fated to disappear after the merger with Pharmacia SpA, the Italian subsidiary of the Swedish group bearing the same name (Marketletters passim).
Under the merger, the stock now in the hands of Pharmacia will be annulled, while the very few Farmitalia shares still on the market will be exchanged with Pharmacia shares on a nine-for-five basis. Pharmacia's stock equity will thus rise to 463 billion lire ($291.6 million) from 460 billion lire now. Recently, Farmitalia has also left the Italian bourse.
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