Company founded by Dr. Samuel P. Duffield, physician and pharmacist. Partnership of Duffield and Harvey C. Parke formed 1866. George S. Davis third partner, 1867. Duffield withdrew 1869. Name Parke, Davis & Company adopted 1871; incorporated 1875. Company first showed profit 1876, first dividend paid to shareholders 1878; dividends paid until mid-1960s. Research was a major activity. Due to weakening financial position, company susceptible to take-over, purchased by Warner-Lambert early 1970s.
The business was started by Dr. Samuel P. Duffield, a physician and pharmacist. In 1866 the partnership of Dr. Duffield and Hervey C. Parke was formed. In 1867 a third partner, George S. Davis, was found. Dr. Duffield withdrew in 1869. In 1871 the company adopted the name Parke, Davis & Company. In 1875 the company was incorporated. In 1876 the company's books finally showed a profit. In 1878, the first dividend was paid to shareholders. Parke Davis paid dividends each year until the Mid 1960's. Research was a major activity of the company with many achievements to its credit. However, due to a weakening in Parke Davis's financial position, the company became susceptible to a take over and was purchased in the early 1970's by Warner Lambert, a company looking to diversify its interests.
Included are engineers files of equipment used in the Detroit plant; blueprints and linen drawings of the Detroit plant, including building floor layouts, equipment & placement, and computer readouts of the linen drawings; plant operating manuals from the Detroit factory; incomplete sets of the "Parke Davis Review" and "Parke Davis Notes"; (*) Photographs of the Detroit plant, laboratory, and manufacturing equipment; (*) lantern slides of the Parke Davis biological laboratory; (*) trade mark file, listing the product's name and registration numbers and dates; product catalogues; the book, Scientific Contributions from the Laboratories, 1866 1966; pocket lab books used by Parke Davis researchers in their experiments as presented in the research files listed next; Bound drug research files from 1902 to the 1940's at Parke Davis in their labs in Detroit, including external and internal correspondence; reprints in loose leaf binders of articles based on this research; and a card file of these researchers by name and dates.