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ICI PHARMACEUTICALS GROUP REAFFIRMS PRICE RESTRAINT POLICY FOR 1993

 WILMINGTON, Del., Feb. 3 /PRNewswire/ -- ICI Pharmaceuticals Group (ADR - NYSE: ICI) announced today its plans to again contribute to a solution for the nation's health care crisis by instituting a comprehensive program to restrict price increases throughout 1993.
 For 1993 the company has promised to limit price increases on all individual products to a maximum of 4 percent for this calendar year with an overall target price realization across the entire product line of less than the projected Consumer Price Index (CPI) after adjusting for federal and state mandated rebates.
 "We are keenly aware of the current debate on healthcare costs in the U.S.," said Robert C. Black, president, ICI Pharmaceuticals Group. "For 1992, ICI volunteered to revise its pricing policies in an effort to help reduce escalating costs." ICI's commitment in 1992 was to hold its price movement on a volume-weighted basis for its entire product line to the Consumer Price Index. In January of last year, the time the commitment was made, the CPI was projected to be 3.3 percent. An analysis of ICI's performance over the past 12 months showed a price movement of 3.6 percent on a volume-weighted basis, but a 2.1 percent price realization after deducting federal and state mandated rebates.
 "ICI remains committed to participating in any debate on healthcare costs in the U.S. and is anxious to contribute to any solution which would benefit the American people," Black said. "At the same time, we cannot jeopardize our commitment to a research and development program which is expected to yield improved treatments for cancer, respiratory diseases and central nervous system disorders.
 "As a member of the Pharmaceutical Manufacturers Association, we are willing, along with other responsible companies, to play an active role in working with government to reform the health care system without compromising free market business standards. The company's position is that legislation which establishes price controls for pharmaceutical products, with all its attendant bureaucracies and audit procedures, is counter productive. ICI believes a voluntary approach such as that outlined in its program is more consistent with America's free market system," Black concluded.
 ICI Pharmaceuticals Group, a business unit of Zeneca Inc., is today ranked among the top 20 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 Pharmaceuticals Group also provides health education and support services to millions of Americans.
 ICI Pharmaceuticals Group has approximately 3,000 employees nationwide, nearly 700 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- 2/3/93
 /CONTACT: Steven Lampert, 302-886-7862, or Joel Tau, 302-886-7858, both of ICI Pharmaceuticals Group/
 (ICI)


CO: ICI Pharmaceuticals Group ST: Delaware IN: MTC SU:

CK-OS -- NY017 -- 2307 02/03/93 10:34 EST
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Publication:PR Newswire
Date:Feb 3, 1993
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