Carter-Wallace
| Company type | Public |
|---|---|
| Industry | Pharmaceutical |
| Founded | 1859 |
| Founder | John Samuel Carter |
| Defunct | May 8, 2001 in Erie, Pennsylvania, United States |
| Fate | Acquired by Church and Dwight and Kelso & Company |
Number of employees | 3320 (2000) |
![[icon]](/wiki/File:Wiki_letter_w_cropped.svg){kind=small} | This section needs expansion. You can help by adding to it. (February 2020) |
Carter-Wallace was a personal care company headquartered in New York City.[1][2] The company was formed by the merger of Carter Products and Wallace Laboratories.[3] The company had a research facility in Cranbury, New Jersey.[4]
History
[edit]The company was formed as Carter Medicine Company which was incorporated in 1880 by John Samuel Carter of Erie, Pennsylvania. John Carter died in 1884 and his son, Samuel Carter took over.[2] John Higgins Wallace Jr., a research chemist from Princeton, New Jersey was hired and he formulated Arrid deodorant in 1935.[2][3]
In 2001 the consumer product line was sold to Church and Dwight and MedPointe bought the diagnostics and drug businesses.[5][6]
CEOs
[edit]- John Samuel Carter (?-1884) 1880 to 1884.[2][4]
- Samuel J. Carter, son of John.[2]
- Brent Good, a New York businessman that convinced John to incorporate.[2]
- Harry Good, son of Brent.[2]
- Charles Orcutt, brother-in-law of Harry.[2]
- Henry Hamilton Hoyt Sr., son-in-law of Charles; bought a controlling interest in the company.[1][2]
- Henry Hamilton Hoyt Jr.[7]
Timeline
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- 1859: Carter's Little Liver Pills compounded in a four room building in Erie, Pennsylvania.[2][4]
- 1880: Carter Medicine Company is incorporated.[2][4]
- 1929: Henry Hamilton Hoyt Sr. becomes company's managing director.[2]
- 1935: Arrid antiperspirant introduced.[2]
- 1937: Carter Medicine Company becomes Carter Products.[2]
- 1940: Nair depilatory introduced.[2]
- 1949: Rise shaving cream, the first pressurized shave cream is introduced.[2]
- 1961: Henry Hamilton Hoyt Jr., becomes company chairman.[2]
- 1965: Carter Products is renamed Carter-Wallace.[2]
- 1985: Youngs Drug Products acquired.[2]
- 1988: Sea & Ski sold to Fabergé[8]
- 1989: Hygeia Sciences acquired.[2]
- 1993: Felbatol, a medication for epileptics, is launched and later withdrawn from the market.
- 1999: Trojan condom Supra, the first polyurethane condom is introduced.[2]
- 2000: Henry Hamilton Hoyt Jr. retires.[2]
- 2001: MedPointe buys the pharmaceutical pipeline and the Carter-Wallace name, and Church and Dwight buys the personal care brands.[4][5][9]
Products
[edit]- Arrid deodorant
- Carter's Laxative, which was originally known as Carter's Little Liver Pills and after 1959 as Carter's Little Pills.[1][10]
- First Response
- Lambert Kay
- Meprobamate, marketed as Miltown
- Nair depilatory
- Pearl Drops
- Carisoprodol, marketed as Soma
- Trojan condoms
- Simeticone, marketed as Ovol
- Dimenhydrinate, marketed as Gravol
- Aluminum Hydroxide, Magnesium Hydroxide, and Simethicone, antiacid antiflatulent preparation, marketed as Diovol
- Pepsin preparation, marketed as Fermentol
References
[edit]- ^ a b c "Henry Hoyt, 96, Dies. Headed Drug Company". The New York Times. November 7, 1990. Retrieved 2011-09-24.
Perhaps the company's best-known product was Carter's Little Liver Pills, which had been developed in the 1870s by Dr. Samuel J. Carter, a druggist in Erie, Pa. Mr. Hoyt changed the name to Carter's Little Pills in 1959 after the Federal Trade Commission objected to advertising claims that the pills increase the flow of bile from the liver, and the United States Supreme Court refused to intervene.
- ^ a b c d e f g h i j k l m n o p q r s t u v "Carter-Wallace". Funding Universe. Retrieved 2011-09-26.
Carter-Wallace, Inc. is a diversified healthcare company that has exhibited a consistent knack for anticipating business trends. The company markets and makes toiletries, proprietary drugs, diagnostic specialties, pharmaceuticals, and pet products. Best known for such products as Arrid deodorant and Trojan condoms, Carter-Wallace has more recently emphasized its laboratories division, where work on various medications points the way to future profits. ...
- ^ a b "John Wallace, 82, Chemist and Executive". The New York Times. March 24, 1989. Retrieved 2011-09-27.
In 1934 he bought a laboratory where he had been a consulting chemist, and it became Wallace Laboratories. That organization merged with Carter Products to become Carter-Wallace Inc., a drug and cosmetics manufacturer based in Manhattan. ...
- ^ a b c d e Lurie, Maxine N; Mappen, Marc (2004). "Carter-Wallace". Encyclopedia of New Jersey. ISBN 9780813533254. Retrieved 2011-09-26.
- ^ a b "Carter-Wallace's brands will be sold to 2 different companies for a total of $1.12 billion". Los Angeles Times. May 9, 2001. Retrieved 2011-09-26.
Carter-Wallace, ending a yearlong process to find buyers for its many brands, will split its consumer brands -- including Trojan condoms and Arrid deodorant--from its health business, after failing to attract a better offer for the entire company. For Church & Dwight, which owns the Arm & Hammer baking soda product line, the purchase of Carter-Wallace's deodorant and pet- care lines will help the firm expand internationally, it said. A 50- 50 venture Church has formed with Kelso will take the other consumer lines. MedPointe will get Carter-Wallace's diagnostics and drug businesses, which make the allergy medicine Astelin, the muscle relaxant Soma and Rynatan/Tussi cough and cold products. ...
[dead link] - ^ "Carter-Wallace Sells Itself". The New York Times. May 9, 2001. Retrieved 2011-09-26.
Carter-Wallace Inc. agreed to sell itself for $1.12 billion, splitting consumer brands including Trojan condoms and Arrid deodorant from its health business after failing to attract a better offer for the entire company. A venture of the consumer goods maker Church & Dwight Company and the private equity group Kelso & Company will buy Carter-Wallace's consumer division for $739 million in cash. MedPointe Capital Partners L.L.C., formed last year to build a specialty health care business, will buy the drug and tests unit for $408 million. ...
- ^ "Carter-Wallace". The Wall Street Journal. August 12, 1965. Archived from the original on January 31, 2013. Retrieved 2011-09-26.
Henry H. Hoyt, Jr., was named president of the newly created Carter products division of this drug, specialty foods and toiletries concern. Fred L. Lemont was named vice president, marketing, of the unit. ...
- ^ Banana_Boat_Founder_Robert_Bell - Florida International University College of Business. Feb 27, 2008
- ^ "About Us". Wallace Pharmaceuticals. Archived from the original on 2011-09-26. Retrieved 2011-09-26.
September 2001 brought the biggest change to the Carter-Wallace business in more than one-hundred years when the pharmaceutical and diagnostics businesses of Carter-Wallace, Inc. was sold to MedPointe Capital Partners, backed by private equity firms The Carlyle Group and The Cypress Group in a cash deal valued at approximately $408 million. In the deal, MedPointe acquired Wallace Laboratories, Carter-Wallace's pharmaceutical arm, and Wampole Laboratories, its diagnostics unit, as well as the rights to the Carter-Wallace name.
- ^ "Cut Out the Liver". Time magazine. April 16, 1951. Archived from the original on November 8, 2007. Retrieved 2011-09-24.
One of the most familiar of all trade names was booked for a major operation last week. The Federal Trade Commission told the manufacturers of Carter's Little Liver Pills to cut the word "liver" out of the product name. ...
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