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Sandoz

Executive Summary

To establish an American Depositary Receipt program for its registered shares. Morgan Guaranty Trust Company will be the depository. Company characterizes the move as a "further step in broadening its international shareholder base". . . . Marion Merrell Dow's: Cardizem CD once-a-day diltiazem capsules for hypertension gains "approvable" status from FDA on Oct. 10; Cardizem Injectable approvable as of Oct. 4. MMD filed the NDA for Cardizem CD in February 1990 and for the NDA for I.V. diltiazem in October 1989. Plant inspections for the calcium channel blocker products are underway; labeling issues have been resolved for injectable Cardizem and negotiations are being completed for CD. . . .

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