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ICI PHARMACEUTICALS WILL LIMIT PRICE ADJUSTMENTS TO INFLATION RATE

 ICI PHARMACEUTICALS WILL LIMIT PRICE ADJUSTMENTS TO INFLATION RATE
 WILMINGTON, Del., Feb. 3 /PRNewswire/ -- ICI Pharmaceuticals Group, one of the nation's leading research-based pharmaceutical companies, today announced that it would limit 1992 price adjustments on its products to the general rate of inflation in the U.S. economy.
 According to Robert C. Black, president, "the new policy was developed in an effort to strike a reasonable balance between the company's desire to contribute toward a reduction in the escalating cost of health care while attempting to maintain shareholders value sufficient to support increased investment in ICI's innovative pharmaceutical research and development efforts."
 Price adjustments in 1992 on individual ICI Pharmaceuticals Group products will range from 0 percent to a maximum of 4.1 percent. "As a result of these changes," Black said, "projected price movement on a volume-weighted basis for our entire product line will not exceed 3.3 percent in 1992, a level which we believe is below consensus forecasts for inflation in the U.S. economy for 1992."
 "This new policy will remain in effect as long as there is continued stability in the marketplace and legislative recognition of the need to reward technical innovation," Black said.
 ICI Pharmaceuticals Group, a business unit of ICI Americas Inc., is today ranked among the top 15 research-based companies in the United States. In the 50 years since the company was founded, ICI has earned an outstanding worldwide reputation as an innovative research-intensive company dedicated to the highest standards of pharmaceutical discovery, development, and production. Through numerous public awareness campaigns, corporate health programs, and patient assistance programs, ICI Pharmaceutical Group provides health education and support services to millions of Americans.
 ICI has approximately 3,000 employees nationwide, nearly 800 of whom are scientists engaged in research, development, and quality assurance. The company's principal locations are in Delaware, with headquarters and research laboratories in Wilmington and manufacturing facilities in nearby Newark, Del.
 -0- 2/3/92
 /CONTACT: Joel Tau of ICI Pharmaceutical, 302-886-7858/ CO: ICI Pharmaceuticals Group; ICI Americas Inc. ST: Delaware IN: MTC SU:


TS-OS -- NY022 -- 6043 02/03/92 09:50 EST
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Publication:PR Newswire
Date:Feb 3, 1992
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