ICI &lt;ICI> SEEKS GAINS IN SPECIALTY BUSINESSES

  Imperial Chemical Industries PLC, the
  largest chemical company in the United Kingdom, will expand its
  specialty chemicals and drug businesses this year, and better
  its 1986 results, said chairman-elect Denys Henderson.
      "We expect to shift our company toward higher value-added
  businesses and continue to broaden our base," Henderson told
  reporters at an informal meeting here.
      ICI today announced the formation of a new U.S.
  drug company, ICI Pharma, which, with its Stuart
  Pharmaceuticals unit, it said will double its current
  pharmaceutical sales to 1.1 billion dlrs by 1990.
      Henderson said, "Our pharmaceutical business gets lost in
  the way that Glaxo's (Glaxo Holdings PLC) does not."
      ICI's pharmaceutical division is the second largest drug
  maker behind Glaxo in the U.K. Last year U.S. drug sales were
  about 40 pct of its worldwide drug sales of 1.5 billion dlrs,
  which in turn brought in 27 pct of its total profits.
      He estimated that by 1990, ICI's pharmaceutical division
  would account for about 30 pct of total company profits.
      "The drug division far and away brings in the highest rate
  of return," said A.W. Clements, finance director of ICI, who
  was also at the meeting.
      Henderson said the new U.S. drug concern would basically
  act as a second sales force to double the exposure of its drugs
  to doctors. ICI will hire 145 new salespeople by October one.
      Henderson said the major new products in the company's
  pipeline, expected to each bring in sales of over 200 mln dlrs
  annually, were Statil, a treatment for diabetic complications,
  Zoladex, a treatment for advanced prostate cancer, and Carwin,
  a treatment for mild to moderate congestive heart failure.
      Henderson said U.S. Food and Drug Administration approval
  to market Statil and Zoladex, both under joint licensing
  agreements with Merck and Co Inc &lt;MRK>, is not expected until
  about 1989. ICI expects to file for permission to market Carwin
  in the U.S. later this year.
      Henderson said the company's 1987 results would top 1986
  income of 888 mln dlrs or 5.45 dlrs per ADR on sales of 15
  billion dlrs, but he declined to specify by how much.
      Henderson said 1987's results would be boosted by Glidden
  Paints, which ICI bought last November for 580 mln dlrs from a
  unit of Hanson Industries Inc.
      Henderson also said that ICI has about nine billion dlrs
  available for acquisitions. Last year the company made 40
  acquisitions, the largest being Glidden. He said that more
  acquisitions may be made this year but he ruled out an
  acquisition of a pharmaceutical concern as "too expensive."
      Henderson said that in his new role of chairman, effective
  April one when he takes over from Sir John Harvey-Jones who
  will retire, the biggest challenge ahead lay in continuing the
  earnings momentum ICI has established over the past few years
  after restructuring and selling off unprofitable businesses.
  

