ICI &lt;ICI> SEES GROWTH IN PHARMACEUTICALS

  Imperial Chemical Industries PLC
  expects earnings from its pharmaceuticals operations to grow  
  to about 35 pct of world profits within the next five years
  compared with a current 30 pct, chairman elect Denys Henderson
  told financial analysts.
      "Over the next five years we expect to launch one major new
  product each year," Henderson said.
      He also said research and development spending in this
  business segment will be increased to 14 pct of total sales
  income in 1987 from 13 pct, or 130 mln sterling, in 1986.
      ICI, the world's fifth largest chemicals firm in terms of
  sales, recently reported 1986 profits of about 888 mln dlrs on
  15 billion dlrs in sales, compared with income of 817 mln dlrs
  on 15.87 billion dlrs in sales a year earlier.
      Sales in the United States totaled about three billion
  dlrs, ICI executives said.
      In addition, Henderson said overall corporate growth will
  come from ICI's research and development activities, but the
  company intends to continue to grow through an acquisition
  program.
      ICI spent just under one billion dlrs for acquisitions
  during 1986, the largest of which was the 580 mln dlr purchase
  of Cleveland, Ohio-based Glidden Inc, a paints, resins and
  coatings company, from &lt;Hanson Trust PLC>.
      ICI financial director Alan Clements said the company's
  borrowing limits are at a level of about 6.3 billion sterling,
  1.5 billion of which have already been used.
      While the company has no current plans for a major
  acquisition, "we are ready to move quickly in the acquisition
  field if the need arises," Clements said.
  

