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Executive Summary

SQUIBB MARKETING/SCIENCE TOPSIDE TEAM: EXEC VP JAN LESCHLY to president and chief operating officer and Exec VP Charles Sanders, MD, to vice chairman, Squibb announced March 30. As president, Leschly fills a management title left vacant since the departure of Dennis Fill in 1986 to head spinoff Westmark. The move apparently confirms Leschly as the protege and heir apparent to Chairman and CEO Richard Furlaud. Furlaud, who turns 65 this year, is the dean of the U.S. drug industry management, having been in the top position at Squibb for 20 years. "Mr. Leschly has shown superb leadership skills in operations, as well as creative approaches to developing new business opportunities," Furlaud remarked. Under Leschly, Squibb has broken up its marketing efforts along product lines into five units -- E. R. Squibb & Sons, SquibbMark, Princeton Pharmaceuticals, Squibb Novo and Squibb Diagnostics. A native of Denmark, Leschly, 47, has advanced quickly in the Squibb management ranks. He joined Squibb in 1977 as VP-commercial development of E. R. Squibb & Sons. Before that, he was exec VP of the Danish insulin producer Novo, heading that company's drug operation. Sanders, 56, has headed Squibb's drug R&D efforts since 1981, when he left the general directorship of Massachusetts General Hospital to join the company as a VP and director. In 1983, Sanders was named exec VP. "Dr. Sanders has positioned Squibb R&D among the most productive in the pharmaceutical industry and has built a world class team of scientists at The Squibb Institute for Medical Research," Furlaud said. The company recently recruited another Mass. General physician, Edgar Haber, to succeed retiring George Mackaness, MD, as head of the Squibb Institute. Under Sanders, Squibb has increased R&D spending from $ 96 mil. in 1982 to an estimated $ 220 mil. in 1987, according to figures presented to analysts in January. The firm has also entered into a series of research alliances with other companies and academic institutions. These include an agreement with Marion to study Capoten and Cardizem combination therapy, with Cetus for biotechnology and, most recently, with Cambridge University for basic research in the central nervous system and biotechnology areas.

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