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Pharmacia

This article was originally published in The Tan Sheet

Executive Summary

U.S. Rogaine sales fell 22% to $23 mil., worldwide revenue dropped 17% to $30 mil. in Q2, firm says July 25. Revenues for Nicorette, which Pharmacia sells in certain foreign markets and licenses to GlaxoSmithKline in U.S., declined 8% to $22 mil. in U.S., but jumped 16% to $63 mil. globally. Domestic consumer health segment saw sales fall 14% to $77 mil., while total consumer health revenue was $169 mil., up a slight 1%. Pharmacia posted net sales of $5.42 bil. for quarter, up 5%, and net income rose 20% to $844 mil. before costs from March 2000 merger with Monsanto. Including merger and restructuring costs, net income was up 54% to $737 mil. Merger resulted in cost savings of $216 mil. in Q2

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