Hoechst-Massachusetts General

At Hoechst U.S., by 1980, 80 percent of pharmaceutical sales derived from a single drug, the diuretic Laxic, which the company had introduced in 1964. To rectify this weakness, Hoechst made its initial move into biotechnology by signing a contract with Massachusetts General Hospital, a Harvard teaching hospital, to finance for ten years at 5 million a year the research... 

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