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STERLING WINTHROP AND ELF SANOFI ANNOUNCE JOINT OPERATIONS NOW UNDER WAY THROUGHOUT EUROPE WITH ADDITION OF SCANDINAVIAN COUNTRIES

STERLING WINTHROP AND ELF SANOFI ANNOUNCE JOINT OPERATIONS NOW UNDER WAY
 THROUGHOUT EUROPE WITH ADDITION OF SCANDINAVIAN COUNTRIES
 NEW YORK, July 9 /PRNewswire/ -- Sterling Winthrop Inc. and Elf Sanofi today announced the initiation of joint alliance operations in three additional countries: Denmark, Finland and Sweden. These key "country closings" reflect the continuing implementation of an innovative alliance agreed to by the two companies in January 1991, and brings joint business operations worldwide to well over 90 percent.
 New pharmaceutical products alliance organizations are now operational under the name Sanofi Winthrop in these countries and are managed by Elf Sanofi. In addition, a regional European consumer health products business is operational in these countries under the name Sterling Health and is managed by Sterling Winthrop.
 "We are pleased with the great strides we have made in implementing our global alliance," said Louis P. Mattis, chairman and chief executive officer of Sterling Winthrop. "We have achieved more than 90 percent of our operations goal in 18 months, which is indicative of our two companies' dedication to achieving our shared vision."
 Official business agreements, where necessary, are progressing in a number of other countries to complete the joining of the remaining 10 percent of the business.
 The Sterling Winthrop and Elf Sanofi alliance has also led to decisions to co-finance the development of six pharmaceutical compounds in the areas of thrombosis, cardiovascular disease and diagnostic imaging.
 Together, Sterling Winthrop Inc., headquartered in New York City, and Elf Sanofi, headquartered in Paris, have developed a common vision for the alliance which states: "Together, we are a worldwide team committed to creating distinctive solutions for the needs of mankind in pharmaceutical and consumer health products."
 -0- 7/9/92
 /CONTACT: Terry G. Kelley, 212-907-3009, or Diane C. Iselin, 212-907-2341, both of Sterling Winthrop/ CO: Sterling Winthrop Inc.; Elf Sanofi ST: New York IN: MTC SU: JVN


GK-OS -- NY048 -- 7918 07/09/92 14:39 EDT
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Publication:PR Newswire
Date:Jul 9, 1992
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