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66-592: Chiron Corporation ( / ˈ k aɪ r ɒ n / KY -ron ) was an American multinational biotechnology firm founded in 1981, based in Emeryville, California , that was acquired by Novartis on April 20, 2006. It had offices and facilities in eighteen countries on five continents. Chiron's business and research was in three main areas: biopharmaceuticals , vaccines , and blood testing . Chiron's vaccines and blood testing units were combined to form Novartis Vaccines and Diagnostics, while Chiron BioPharmaceuticals

132-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

198-508: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

264-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

330-481: A growth factor hormone for the treatment of wounds and Merck & Co to develop an improvement to their existing hepatitis B vaccine. In 1986, Professor Penhoet said: "Our business strategy is to dominate small markets rather than take a small presence in a broad market." The niche that Chiron was focusing on was ophthalmology, which Mr. Penhoet said was "big enough to be interesting, but small enough to service with 40 salespeople." Professor Penhoet also stated that Chiron

396-490: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

462-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

528-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

594-848: The Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

660-574: The Eastman Kodak Company over the rights to the polymerase chain reaction product, which was settled in 1993. In 1998, Chiron filed patent infringement suits in Europe, Japan and the US against Roche over its hepatitis C (HCV) products. Chiron was the first to clone HCV in 1989 after six years of research and had since filed over 100 HCV related patents in over 20 countries. A settlement

726-585: The University of California ; Penhoet at Berkeley , where he continued to lecture, and the others from San Francisco . Chiron formed a partnership with the Swiss pharmaceutical giant, Ciba-Geigy Ltd., through the Biocine Company, to use genetic engineering to develop vaccines and to treat, prevent and diagnose diseases such as AIDS, herpes and malaria. Other partnerships included Thicon Inc. to develop

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792-670: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

858-551: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

924-502: The FDA stepped in and suspended Chiron's license. The company undertook a remediation program and succeeded in restoring the manufacturing license from MHRA in 2005. However, the incident resulted in a class action lawsuit for nearly $ 280m being brought against Chiron and its executives for allegedly, in 2003, overstating its ability to manufacture and ship the vaccine Fluvirin, thus allowing Novartis to buy Chiron shares below market value when

990-575: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

1056-574: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

1122-558: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

1188-464: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

1254-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

1320-541: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

1386-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

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1452-614: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

1518-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

1584-576: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

1650-766: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

1716-507: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

1782-400: The acquisition of Cetus, Chiron split its operations among five entities: Cetus Oncology, for cancer drugs; the Biocine Company, for vaccines; Chiron Diagnostics, for blood screening and other diagnostic tests (later sold to Bayer AG for $ 1.1 billion); Chiron Intraoptics, for eye surgery, and Chiron Technologies, for research and development. In 1992, the company's first product, Proleukin ,

1848-464: The acquisition of Du Pont in partnership with Ortho Diagnostic Systems; Munich based Adatomed GmbH; and a merger with fellow biotech company Cetus Corporation after Cetus failed to get approval for its drug Interleukin-2. Hollings Renton of Cetus became president and CEO when Gregory Lawless agreed to leave. Mr Renton resigned in 1992 and was replaced by Sean Lance, from Glaxo Wellcome in 1998, and finally by Howard Pien from GlaxoSmithKline in 2003. After

1914-450: The acquisition of Matrix Pharmaceuticals Inc and its product tezacitabine . Chiron also manufactured the MMR vaccine (measles mumps and rubella) at its Liverpool plant. Chiron in conjunction with Crucell (now part of Johnson & Johnson ) developed a pentavalent vaccine called Quinvaxem targeting 5 diseases in children. When in 1991 Cetus was acquired it was subject to a lawsuit by

1980-469: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

2046-742: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

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2112-654: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

2178-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

2244-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

2310-487: The current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and

2376-509: The duty of good faith and fair dealing and breach of contract claims in connection with the acquisition. In 2004, Chiron attracted adverse media coverage after the UK government suspended its license for manufacturing Fluvirin , an influenza vaccine , at its plant in Liverpool, England due to contamination concerns. This action left the United States government short of the vaccine. In August, it

2442-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

2508-485: The first commercial genetically engineered vaccine against hepatitis B. Two years later, in 1989, Dr. Michael Houghton , Dr. Qui-Lim Choo , and Dr. George Kuo , in collaboration with Dr. Daniel W. Bradley at the CDC, finally identified the genome of the viral agent responsible for 80 to 90% of non-A and non-B post-transfusion hepatitis—the agent called hepatitis C virus . For this ground breaking discovery, Michael Houghton

2574-497: The first inhaled antibiotic approved for treating lung infections in cystic fibrosis patients. Having launched its first vaccine product, Fluad, an adjuvant influenza vaccine, in 1996, the vaccine line was expanded significantly in 1998 with the acquisition of the European vaccine businesses of Behring (Germany) and Sclavo (Italy). This was followed in 2003 by the acquisition of PowderJect, the UK-based vaccines company, making Chiron

2640-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

2706-576: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

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2772-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

2838-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

2904-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

2970-423: The lead suspect and placed him on its FBI Most Wanted Terrorists list. Novartis Corporation was the result of a merger between Sandoz Laboratories and Ciba-Geigy in 1996 and owned slightly less than half of Chiron as part of a Federal Trade Commission order. Several of Sandoz’s subsidiaries were sold off for reasons of anti monopoly legislation. In 2005, Novartis made an offer to buy Chiron. Initially this offer

3036-494: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

3102-543: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

3168-545: The plant temporarily closed down. The amount settled in 2008 was for $ 30m. On August 27, 2003 two bombs exploded at Chiron's headquarters in Emeryville, California. A group calling itself Revolutionary Cells e-mailed a statement to reporters taking credit for the bombing and claimed that their action was due to Chiron's past contracts with Huntingdon Life Sciences , a contract research firm that conducts experiments on animals. The FBI has named Daniel Andreas San Diego as

3234-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

3300-611: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

3366-573: The second-largest flu vaccines provider and the fifth-largest vaccines business in the world. In 1998, Chiron's nucleic acid testing (NAT) blood-testing business was launched in cooperation with Gen-Probe, followed a year later by the launch of the Procleix system, which detects viral RNA and DNA in donated blood and plasma during the very early stages of infection, when those infectious agents are present but cannot be detected by immunodiagnostic tests. Chiron expanded its cancer drug portfolio in 2002 with

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3432-501: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

3498-496: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

3564-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

3630-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

3696-561: Was announced that 4 million doses of the vaccine were potentially contaminated with Serratia marcescens . It later emerged that the Food and Drug Administration ( FDA ) may have been aware of the problem nine months earlier, but a miscommunication between the company and the FDA left the problem unsolved until the MHRA (Medicines and Healthcare Products Regulatory Agency), the British equivalent of

3762-612: Was approved in United States for the treatment of metastatic melanoma ; previously it was only approved for use with kidney cancer . This was followed a year later by Betaseron , a beta interferon, the first treatment for relapsing-remitting multiple sclerosis and made by Berlex Laboratories Inc. In 1997 Chiron provided the active ingredient, becaplermin , in Regranex , a topical treatment for diabetic foot ulcers, manufactured by Ortho-McNeil Pharmaceutical Inc. In 2001, Chiron acquired PathoGenesis for its antibiotic drug Tobi ,

3828-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

3894-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

3960-418: Was integrated into Novartis Pharmaceuticals. In 2014, Novartis completed the sale of its blood transfusion diagnostics unit to Grifols and announced agreements for the sale of its vaccines unit to GlaxoSmithKline . Chiron was founded in 1981 by chairman, William J. Rutter , president and chief executive, Professor Edward Penhoet, and vice president for research, Pablo DT Valenzuela . All were academics from

4026-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

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4092-532: Was one of the winners of the 2020 Nobel Prize in Medicine. In 1988, Chiron formed a joint venture company, called Mimesys Inc., with Johnson & Johnson and the Warner-Lambert Company , to develop the next generation of biotech drugs. The following year Chiron recruited Gregory Lawless, who had come from DuPont , to take over as president and CEO. This led to additional buying that included

4158-471: Was reached where Roche Holding A.G. agreed to buy the global semi-exclusive nucleic acid test (NAT) patents for HCV and HIV from Chiron. Bayer, the company which bought Chiron Diagnostics, sued Chiron Corporation in 2002 citing that it hid patent and equipment problems from them during purchase negotiations. The case filed in Delaware alleged breach of warranty, fraud, negligent misrepresentation, violation of

4224-505: Was rebuffed, but after the bid was substantially enhanced, Chiron was sold, and became part of Novartis in April, 2006. A year later, parts of ex-Chiron were sold in part and leased in part to Bayer. In 2011 Bayer announced it was withdrawing from a manufacturing plant it had leased from Novartis. and Novartis finally divested most of the former Chiron assets in 2013 as part of a global reorganization. Multinational corporation Most of

4290-493: Was set up to provide the enabling technology for others to use under license, and later saying that Chiron was "as close to a virtual corporation as you can be", with few fixed assets but more relationships. From 1982–1988, intense successive molecular biology studies at the Chiron Emeryville research labs had been undertaken for the treatment of hepatitis. In 1987, Rutter and his research team at Emeryville produced

4356-513: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

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