A mere 20 years after taking office, Lupton Patten died at the age of 51, and in December 1958 he was succeeded as President by his nephew, Alexander Guerry, Jr., age 40. Alexander Guerry, Jr., who joined the Chattanooga Medicine Company in 1945, came from a learned, athletic and civic-minded family. He was valedictorian of both his high school (Baylor School) and college (University of the South) graduating classes. He was a fierce competitor on the tennis court earning tournament titles throughout his life. He was also a highly decorated Air Force pilot, serving two tours of duty during World War II. He was awarded the Distinguished Flying Cross, The Silver Star, The Legion of Merit and the Air Medal for his brave flying exploits in the Southwest Pacific. In total he flew 123 combat missions in seven different types of aircraft while attaining a commission of Lt. Colonel from the Air Force during just two years of service.
Alexander Guerry, Jr. was instrumental in setting the Company on firm financial footing while adopting a growth-oriented business mindset. It was during this period of expansion that the Company name was changed from the Chattanooga Medicine Company to Chattem Drug and Chemical Company and created two divisions, Chattem Chemicals and Chattem Consumer Products. Alexander Guerry, Jr. was able to secure financing for the purchase of products and even entire companies that offered Chattem a unique position in the marketplace. By 1957 annual sales had reached $5 million, but in an effort to garner additional financial resources with which to maintain growth, Company stock was sold to select outsiders during 1962, and in 1969 stock was offered to the general public for the first time. On March 10, 2010, Chattem's common stock ceased trading on the NASDAQ Global Select Market.