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Executive Summary

Revlon's ethical pharmaceutical operating profit grew 17.5% to $70.6 mil. during 1983 despite a worldwide volume decline of 2% to $410.6 mil., Revlon said in its 1983 annual report. Sales in the U.S., Canada, and Puerto Rico were healthy, the firm pointed out, which volume ahead 10.7% to $223 mil. Operating profit for those areas was up 22.1% to $31.7 mil. Citing benefits from its early 1983 marketing reorganization to form a hospital care business (Armour) and a primary care business (USV) "to allow concentration of effort," Revlon said that "we have already gained form this change...record levels of business in Armour Thyroid, Calcimar and DDAVP, and good growth in our various plasma products." In addition, "The introduction of our first internally-developed ethical pharmaceutical" Lozol, "the first indoline antihypertensive diuretic for the treatment of mild to moderate hypertension," contributed to the firm's ethical pharmaceutical momentum. The company also cited "improved Rx-writing trends in well-established therapeutic categories and good business conditions for plasma fractions." On top of the recent Lozol approval, Revlon said, "our health care division [is also] waiting regulatory agency action on 20 new drugs and new device applications of various levels of importance, and, in addition, 95 U.S. patent applications were filed."

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