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STRATEGIES FOR THE FUTURE HIGHLIGHT UPJOHN ANNUAL MEETING

 STRATEGIES FOR THE FUTURE HIGHLIGHT UPJOHN ANNUAL MEETING
 KALAMAZOO, Mich., May 19 /PRNewswire/ -- Shareholders of The Upjohn Company (NYSE: UPJ) meeting here today heard Chairman and Chief Executive Officer Theodore Cooper review financial highlights of 1991 and first-quarter 1992, detail near- and long-term growth strategies and discuss the company's product pipeline.
 Shareholders elected five directors and defeated one shareholder proposal.
 Cooper said that the company achieved record sales and net earnings in 1991. Consolidated sales increased 13 percent to $3.4 billion and net earnings rose 17 percent to $537 million. First-quarter 1992 sales and net earnings were up 9 and 8 percent, respectively. The net margin was a respectable 16.5 percent in the first quarter of 1992.
 Pharmaceutical sales growth of 14 percent in 1991 was led by Ansaid, the nonsteroidal anti-inflammatory agent, up 29 percent; Micronase, the oral antidiabetes agent, up 25 percent; and Xanax, the anti-anxiety agent, up 23 percent.
 Cooper also discussed the near-term challenges facing the company. He reiterated that the company will continue to defend its integrity and support the safety and efficacy of the sleep medication, Halcion. In regard to yesterday's U.S. FDA Advisory Committee ruling, Cooper said, "We welcome the Advisory Committee's ruling because it not only justifies our faith in Halcion, it also justifies millions of patients' faith in the product and keeps it available to those who need it."
 "We will continue to respond aggressively to the accusations against us because of all our assets -- tangible and intangible -- none are more important than our integrity, our good standing in the world of science and medicine, and our reputation as a responsible company with 19,000 responsible employees around the world," he added.
 Cooper explained the strategies already in place to effectively manage growth in 1993-94 to offset revenue loss from patent expirations in the U.S.
 Products awaiting regulatory approval include Vantin, a cephalosporin antibiotic; Cleocin Cream for the treatment of bacterial vaginosis; a 5 percent formulation of Rogaine for hair growth; Prepidil Gel for cervical softening in induced labor during childbirth; Depo Provera for contraception in the U.S.; and Promedrol Sterile Solution, an improved formulation of the injectable steroid Solu-Medrol.
 Since 1987, development time from discovery of a new agent to testing in man improved from three years to an average of 1.3 years for the most recent Upjohn compounds.
 "Maintaining this trend will be a hallmark of our research and development efforts in the long term to maximize patent and market exclusivity for our products. In the future, the market will continue to require novel, breakthrough agents, and we are ready to meet that demand," Cooper said.
 Cooper reported on several products in the pipeline, including the lazaroid compound, Freedox, and promising prospects in the AIDS research program. Freedox is now in parallel development worldwide for a number of indications.
 "There is a huge medical need for an agent that treats stroke, spinal cord injury and head injury. Freedox needs to be available to every paramedic and emergency room physician in the world," Cooper said.
 Other diverse possibilities for Freedox include brain trauma, stroke, heart attacks, asthma and atherosclerosis.
 Commenting on AIDS research, Cooper said, "Our lead compound is a reverse transcriptase inhibitor that should enter Phase III clinical testing this year. We have several analogs of the lead compound and they will be developed on a global basis. Our compounds are similar to already marketed products without causing the bone marrow damage and pancreatitis that greatly limit the use of those drugs."
 Another strategy for long-term growth is to continue to build a strong global sales and marketing organization that allows the company to leverage its strengths in key therapeutic markets, take advantage of emerging opportunities in important geographic markets and enable more efficient and timely penetration of markets as new products are introduced. Since 1990, the company has added 350 pharmaceutical sales representatives, bringing the global sales force to 3,800, Cooper said.
 In addition, Cooper noted that licensing agreements, co-and joint marketing, technology partnering and acquisitions will play an important part in Upjohn's long-term strategy.
 In other business, shareholders elected M.K. Eickhoff, D.F. Grisham, L.C. Hoff, J.R. Mitchell and W.U. Parfet as directors for three-year terms, expiring in 1995.
 A shareholder proposal, calling for the company to sever all economic ties with South Africa, including its direct investment there, was defeated.
 The Upjohn Company is a worldwide, research-based provider of human health care products, animal health products, agronomic and vegetable seeds and specialty chemicals. Headquartered in Kalamazoo, the company has been dedicated to improving health and nutrition for more than a century.
 -0- 5/19/92
 /CONTACT: John P. Lambrechts of The Upjohn Company, 616-323-7076/
 (UPJ) CO: The Upjohn Company ST: Michigan IN: MTC SU:


ML -- DE023 -- 1930 05/19/92 14:51 EDT
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Date:May 19, 1992
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