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Executive Summary

Boosted by the launch of its new low-dose triphasic contraceptive Tri-Norinyl in the U.S., Syntex oral contraceptive sales jumped 25.7% during the third quarter to $25.7 mil. For nine months, Syntex' oral contraceptive sales have climbed 7.2% to $69.8 mil. Overall pharmaceutical sales, led by nonsteroidals Naprosyn and Anaprox, increased 11% to $164.9 mil. during the third quarter. Syntex reported that U.S. drug sales were up 23% to $102.8 mil. for the quarter, while sales outside the U.S. slipped 3.7% to $62.1 mil. For nine months, Syntex pharmaceutical sales are up 7.9% to $467.2 mil. Third quarter Naprosyn and Anaprox sales of $95.1 mil. worldwide represent a 17.3% increase over the same period last year. U.S. sales of the nonsteroidal anti-inflammatories grew slightly less than in the previous two quarters, up 23.4% to $61.1 mil. Non-U.S. sales of the two drugs began to show growth from the previous year with a 7.6% gain to $34 mil. after declining 1% over the first half of FY 1984. With one quarter remaining in the fiscal year, Naprosyn and Anaprox sales have reached $274.1 mil. in FY 1984 (ended July 31), up 16%. U.S. sales of the two compounds are up 28% to $173.2 mil. for nine months, with non-U.S. sales flat at slightly over $100 mil. Syntex net earnings slipped 10.8% during the quarter to $34.2 mil. on an 8.2% sales gain to $235.9 mil., the firm reported. The firm's Syva diagnostics div. suffered a $6 mil. operating loss during the quarter "principally due to severe competitive pressures," Syntex noted. Also reporting financial results, Jack Eckerd posted a 10.1% sales increase to $650.1 mil. during its third quarter ended April 28 with net income climbing 9.1% to $18 mil. Sales of Eckerd Drug were up 8% to $561.4 mil. with an operating profit of $38.5 mil., up 15.3%. The drug chain reported that "comparable store sales for the quarter for Eckerd Drug units operating more than one full year increased 2.8%." Eckerd's American Video chain moved closer to profitability with operating losses of $2.3 mil. for the quarter on a 24.6% sales increase to $35.4 mil. Chart omitted.

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