SQUIBB UP SHARPLY ON APPROVAL FOR EXPANDED USE OF CAPOTEN; COMPOSITE FLAT
Executive Summary
Squibb catapulted 5-5/8 to 68-3/4 on the approval by FDA of expanded hypertension labeling for Capoten (captopril). The agency's approval of Capoten for use in all stages of hypertension pushed Squibb to an "F-D-C" Weekly Index leading performance for the week ended July 5. Upjohn also performed strongly, gaining 3-7/8 to 112-1/4. Despite the Squibb move, the Pharmaceutical Component was up only fractionally, while the Composite was flat at 606.1 During the week, the Dow was off one percent to 1334.5. The Chain stocks were down 1.8% while the Diversified segment was unchanged for the week. Chart omitted.