President-CEO of Pharmacia & Upjohn Quits

John Zabriskie, president and chief executive of Swedish-U.S. pharmaceutical giant Pharmacia & Upjohn Inc., unexpectedly announced his resignation. The move comes amid disappointing profit for the maker of Rogaine hair restorer, Kaopectate for diarrhea and Halcion tranquilizers. The company, created in 1995 through the merger of Upjohn Co. & Sweden’s Pharmacia, has also had difficulty consolidating its two halves. Zabriskie, 57, the former chief of Upjohn, was instrumental in the merger and has been based in London at company headquarters since then. He said in a written statement that he wants to pursue other interests and will move back to the U.S. The resignation is effective immediately. U.S. shares of Pharmacia lost $2.75 to close at $38.125 on the NYSE.