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SCHERING-PLOUGH BRIEFS ANALYSTS ON BUSINESS PERFORMANCE, FUTURE GROWTH

SCHERING-PLOUGH BRIEFS ANALYSTS ON BUSINESS PERFORMANCE, FUTURE GROWTH
 NEW YORK, July 22 /PRNewswire/ -- "Growth at Schering-Plough (NYSE: SGP) has been due, not to any single strategy, but rather to a dynamic combination of acquisitions, alliances, divestitures, creative research-and-development pursuits, and marketing and sales savvy," Robert P. Luciano, chairman and chief executive officer, told analysts at a meeting here today.
 Reviewing the company's performance, Luciano said earnings per share have grown 20 percent or more for each of the past six years. He cited the company's second quarter 1992 results, issued earlier today, which he said reaffirm his projection for 1992 earnings per share to increase 18 to 20 percent.
 Over 200 analysts and portfolio managers attended the luncheon meeting, which included remarks by Luciano followed by a question-and- answer session.
 Emphasizing the importance of research and development to the company's growth, Luciano pointed to the approximately 50 products introduced since 1986, which together contributed about $1.2 billion to 1991 sales -- about 33 percent of total sales. He noted that R&D expenditures should exceed $500 million in 1992, up from $426 million in 1991.
 In his talk, Luciano reviewed the performances and growth prospects of Schering-Plough's major business components, including U.S. and international pharmaceutical operations, Schering-Plough Animal Health, the Wesley-Jessen vision care business, and Schering-Plough HealthCare Products, which includes sun care, foot care and over-the-counter (OTC) products.
 Examining the pharmaceutical businesses, Luciano said, "Although both units are growing quite well in relation to their respective competitors, it is international's resources that are fueling our superior growth rates." Since 1988, the international pharmaceutical business has been one of the three fastest-growing in its industry, outperforming the market and boosting its IMS market rank from 34th to 26th, he said.
 Luciano also reviewed significant developments among the company's major products and promising research compounds:
 -- 'Intron A' (alpha interferon), an anticancer/antiviral agent, received U.S. approval for hepatitis B in July and Japanese approval for hepatitis C in March. Worldwide 1992 sales are projected to exceed $350 million, compared with $251 million in 1991;
 -- 'Leucomax' (GM-CSF) gained marketing approvals in eight countries;
 -- 'Claritin' (loratadine), a non-sedating antihistamine, should post $130 million in 1992 sales;
 -- Sales of 'Losec', an anti-ulcer drug licensed for marketing in Spain, Italy and Argentina, are expected to top $50 million in 1992;
 -- Worldwide rights were acquired in June to temozolomide, a promising drug for treating certain gliomas (brain tumors); and,
 -- Marketing rights in most international markets were obtained in April for felbamate, an anti-epileptic agent.
 Among recent developments in HealthCare Products, he noted the introductions of 'Gyne-Moistrin', a vaginal moisturizer, and 'FemCare', a value-priced vaginal antifungal; and the acquisition of rights to 'Implus' technology for foot care products. Sun care products -- the leader in its industry -- holds 10 of the top 25 positions for sun care products in the market.
 The chairman also noted that the company has completed over 90 percent of its $1 billion share repurchase program.
 Concluding his remarks, Luciano said, "If asked, 'Where is Schering- Plough's growth going to come from,' I would reply: our rapidly growing international operations; our solid domestic franchises; our OTC and consumer products lineup; our investments in research and licensing -- even our smaller businesses in animal health and vision care. All of these, separately and in combination, will be the foundation for success at Schering-Plough now and well into the next decade."
 Schering-Plough, based in Madison, N.J., is a research-based company engaged in the discovery, development, manufacturing and marketing of pharmaceutical and health care products worldwide.
 -0- 7/22/92
 /CONTACT: Steve Galpin, Jr. of Schering-Plough, 201-822-7415/
 (SGP) CO: Schering-Plough ST: New Jersey IN: MTC SU:


PS -- NY088 -- 2016 07/22/92 14:27 EDT
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Date:Jul 22, 1992
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