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AMERICAN HOME PRODUCTS CORPORATION REPORTS SALES AND EARNINGS FOR THE FIRST QUARTER OF 1993

 NEW YORK, April 14 /PRNewswire/ -- American Home Products Corporation (NYSE: AHP) today reported results for the first quarter of 1993. Net sales were $2,111,015,000 for the 1993 first quarter, 5 percent above year ago levels.
 Net income and net income per share for the 1993 first quarter were $401,509,000 and $1.29, compared to $453,368,000 and $1.43 for the 1992 first quarter. The 1992 first quarter results include the impact of the adoption of Statement of Financial Accounting Standards ("SFAS") No. 109 - "Accounting for Income Taxes", the adoption of SFAS No. 106 - "Employers' Accounting for Postretirement Benefits Other than Pensions" and a $220,000,000 charge for acquired research in connection with the acquisition of Genetics Institute, Inc. Excluding the impact of these accounting changes and the charge for acquired research, net income and net income per share for the 1993 first quarter increased 11 percent and 12 percent.
 Net sales of health care products increased 6 percent worldwide in the 1993 first quarter. The following table sets forth this increase from 1992:
 Percent
 Increase
 Net Sales ($ in 000's) from 1992
 Pharmaceuticals $1,256,587 8
 Consumer Health Care 448,506 2
 Medical Supplies and Diagnostic
 Products 207,648 3
 $1,912,741 6
 The U.S. pharmaceutical sales increase of 8 percent for the first quarter of 1993 was primarily attributable to unit volume growth. This unit growth was led by our established female health care and anti- inflammatory product categories. International pharmaceutical sales increased 8 percent due principally to increased unit sales of female health care and infant nutritional products.
 Consumer health care sales increased 2 percent during the 1993 first quarter due to a less severe cold and flu season compared with that experienced nationwide last year.
 The medical supplies and diagnostic product sales increase was primarily attributable to sales of Symbiosis Corp. which was acquired in the fall of 1992.
 Net sales of food products were flat during the 1993 first quarter.
 AMERICAN HOME PRODUCTS CORPORATION
 (In thousands, except per share amounts)
 Three Months Ended
 Restated
 3/31/93 3/31/92 (B)
 Net Sales $2,111,015 $2,002,039
 Income Before Taxes -
 Operations 549,374 519,098
 Special Charge (B) --- (220,000)
 549,374 299,098
 Federal and Foreign Taxes
 on Income (C) 147,865 155,834
 Income Before Cumulative
 Effect of Changes in
 Accounting Principles 401,509 143,264
 Cumulative Effect of Change
 in Accounting:
 - Income Taxes (C) --- 383,295
 - Postretirement Benefits
 Other than Pensions (D) --- (73,191)
 Net Income $ 401,509 $ 453,368
 Earnings Per Share
 Income Before Cumulative
 Effect of Changes in
 Accounting Principles $1.29 $ .45
 Cumulative Effect of Changes
 in Accounting Principles
 - Income Taxes --- 1.21
 - Postretirement Benefits
 Other than Pensions --- (.23)
 $1.29 $1.43
 Average Number of
 Shares (A) 311,961 316,366
 (A) Average number of common shares outstanding during each period assuming full conversion of preferred stock.
 (B) During 1992, first quarter results were restated to reflect the special charge and the accounting changes noted below and to include the results of Intelligent Medical Systems (IMS), acquired on Dec. 30, 1992 in a pooling of interests transaction. The special charge of $220,000,000 related to the portion of the purchase price of Genetics Institute, Inc. that represents acquired research.
 (C) Effective in the first quarter of 1992, the company adopted SFAS No. 109. The new standard required the recognition, as of Jan. 1, 1992, of the tax benefit related to the A.H. Robins net operating loss carryforward as of Jan. 1, 1992 and certain other tax benefits not previously recognized under SFAS No. 96.
 (D) Results for 1992 reflect the adoption of SFAS No. 106. The new standard required the company to record its accumulated postretirement benefit obligation as of Jan. 1, 1992, in excess of amounts previously recorded.
 -0- 4/14/93
 /CONTACT: John L. Skule, 212-878-5015 (media), or John R. Considine, 212-878-6429 (investor), both of American Home Products/
 (AHP)


CO: American Home Products Corporation ST: New York IN: HOU SU: ERN

PS -- NY015 -- 5559 04/14/93 09:25 EDT
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Date:Apr 14, 1993
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