WARNER-LAMBERT SECOND QUARTER NET ADVANCES 12% ON U.S. Rx BUSINESS' STRENGTH
Executive Summary
Parke-Davis' U.S. Rx drug business helped fuel a 12% jump, to $62 mil., in Warner-Lambert's second quarter net income, the company reported July 31. Paced by Lopid, Procan SR, ERYC, and Meclomen, Parke-Davis U.S. sales also advanced 12%. Overall, the firm said, "sales of Lopid, the number one drug in its category, increased sharply over last year's second quarter. Also during the quarter, Procan SR continued to advance its position as the leading prescribed antiarrhythmic agent." Worldwide, Warner-Lambert's volume edged up 1.8%, to $797 mil. The gain would have been 5% if foreign currency effects were excluded. In addition to the strong performance of the U.S. ethical drug business, Warner-Lambert attributed the net income increase to improved margins and a lower effective tax rate. In the strong U.S. economy, the firm noted, all segments of Warner-Lambert's domestic business advanced. OTC sales advanced among a number of Warner-Lambert's product categories. Benylin "achieved a record market share," the firm asserted. "Listerine antiseptic and E.P.T. early pregnancy test registered solid increases in both sales and market share. Two improved E.P.T. test kits introduced earlier in the year contributed to the sharp gain in E.P.T. sales." Chart omitted.
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