Document oeVNmm9MQL5ErjOa7Bnk59yeE

R&S 105844 BIO-MEDICAL RESEARCH DOCUMENT DESCRIPTION FORM 63 Duplicate in all cards:--? 68 69 76 Q/ftftOOl4 year as-1961- File number [Right justify [Numeric only] Author(s), as Last Name FS (No Punctuation) and coden for journal as JAMA preceeded by one blank space (Xt\o A 20 21 ft/* 40 41 77 78 \)c Sub-Index Code 60 61 62 11 12 13 Title of Report; end with space-hyphen-hyphen-space* Follow with Index Terms, separated from each other with comma-space. Avoid other punctuation; do not abbreviate. 12 61 62 ffiorL^, tic ic/e.ncc^ ^ of ------ft/y , ,<Vrr. />/"T -T 21 22 23 24 Source (Journal, Vol., Number, Pages, Late ) 12 Gh u 61 62 31 32 Brief Summary 12 10 SUMMARY: 61 62 61 62 63 64 *. ' *" Top of the news t '-- ' " >/ 0000014 Expounding, expanding cides in the U.S. and abroad; a new phar More evidence of dang maceutical and surgical products unit in Expanding in the face of raw-material Montreal; increased formulation and Exposure to vinyl chloride monor shortages and inflation was a recurrent packaging installations at the Rezende, apparently has produced angiosarcom Q theme at last week's chemical company Brazil, pharmaceutical plant; a 20% ca a rare liver cancer--in mice. That's wi rvj. annual meetings. pacity hike at the Fort Worth, Tex., hy Bio-Test Laboratories told represen ^ For example, Chairman O. Pendleton drodesulfurization catalyst unit by mid- fives of the Manufacturing Chemi Thomas contended that despite rapidly '74; and a doubling of capacity for this Assn., Occupational Safety and Heai rising raw-material tabs, B. F. Goodrich product line in Michigan City, Ind., by Administration, National Institute f will be able to maintain normal tire pro '75. Occupational Safety and Health, and E. duction. Declining U.S. auto output has Vulcan Materials' chemicals and met vironmental Protection Agency. had an impart on Goodrich's tire sales, als divisions- overcame increased costs Reporting preliminary results of VC1 Thomas acknowledged to shareholders in during the first quarter because they were testing sponsored by MCA, Bio-Test sai New York. But he asserted that the long able to boost prices of products such as that several mice exposed to the chemic; term outlook is bright and the lifting of hydrocarbons and ammonia, according to during a seven-month period (seve the Arab oil embargo will result in tire President B. A. Monaghan. Higher export hours a day, five days a week) had deve, sales returning "to more normal levels.'' sales also aided chemical profits, he told oped cancer at each of three exposur Stauffer Chemical President H. Barclay shareholders in New York. levels--2,500 parts/million, 200 ppm. am Morley told stockholders in San Fran PPG Industries executives informed 50 ppm. So far, simultaneous testing o cisco that one of the reasons the company shareholders in Pittsburgh of two new rats and hamsters has shown no indica expects at least a 40% increase in earnings plants. One is slated to produce water- fion of cancer, Bio-Test added. in '74 is because it's in a "relatively based latex coatings in Cheswold, Del,, in MCA says it contacted the govemmen strong" position on energy. Morley said '75. The other, in Marshall, Minn., will regulatory agencies immediately after that Stauffer anticipated the crunch, fabricate glass-edged Twindow insulating learning of the findings. It stresses that bought ahead and stored energy supplies. units and is due onstream late in '75. the results are only preliminary but may The scarcity of petrochemical feed suggest the need for further research. stocks has not significantly affected Big profits on paper American Cyanamid's production of MCA adds that it is not yet clear how the reaction of humans to VCM might corre most items, Chairman Clifford Siverd re Prospects are bright for the U.S. paper spond to the reaction of mice. A report ported in Portland, Me. The company's and pulp industry, a three-man panel told on results of a second MCA-sponsored product mix, he said, has helped reduce fellow security analysts in New York last study, documenting the health experience the impact, and most cost increases so far week. of present and former workers who had have been recouped in price boosts. According to Benjamin Wright, a been exposed to VCM, is expected next Siverd unveiled plans for several new Model, Roland & Co. analyst, paper week. plants. For example, Brewster Phos firms will continue to show earnings in Government Moves: Meanwhile, phates, the company's joint venture with creases throughout '74, even though de OSHA, which last month set a 50-ppm. Kerr-McGee, will build a $60-million mand and production may slacken. level for worker exposure to VCM as a phosphate rock mine in Hillsborough Mitchell, Hutchins' Lawrence Ross temporary emergency measure, expects County, Florida, due onstream early in said he doesn't agree with those who con to have a proposal for a permanent '77. Among other expansions now slated: tend that paper companies are now at a worker exposure policy ready next week. "major" boosts for low-persistence pesti cyclical peak. EPA asked last week for the voluntary He predicted that average earnings for recall of 20 aerosol pesticides containing paper firms will increase 20-30% in '74 VCM as a propellant, and the Food and and 20-40% in '75, assuming an upswing Drug Administration added 29 more in the economy. Operations will be at 95- aerosol products to its list of items that 96% of capacity this year, and average must be recalled. The Consumer Product costs to companies will increase 10-11%, Safety Commission says it still is trying to he added. Ross said that chemicals ac determine whether there are any products counted for about 7% of paper company under its jurisdiction that contain VCM costs during '73, as a propellant. Such moves are not likely David Taylor of Hanover Trust con to have a long-term effect, however, since tended that capital shortages may lead to most aerosol manufacturers report they relatively tight supplies within the next 5- have already stopped using VCM as a 10 years. He forecast operating levels propellant above 90% and "substantially higher The pressure to develop a sound VCM profits." worker exposure policy was also in On the issue of how the increased creased last week when Firestone re value of the dollar abroad might affect ported that the death of a worker at its pulp and papeT company exports, the Pottstown, Pa., polyvinyl chloride pro panel was split. Taylor said higher valu duction plant in '69 "appears to have ation will reduce foreign demand. Wright been related to angiosarcoma." Cancer and Ross asserted that exports would not cases that may be related to VCM have be affected appreciably, since demand for been reported at B. F. Goodrich, Union paper is fairly inelastic. . ._ Carbide and Goodyear plastics plants.. ; R&S 105845 Top of the news R&S 105846 Off to a strong start r The healthy sales and earnings growth that typified over-all performance of chemical process companies in '73 (see p, 25) continued in first-quarter '74 despite higher costs of fuels and raw materials (table, right). Firms reporting record quarterly results last week included American Cyanamid and Monsanto. Higher raw-material costs didn't ap (Dollar figures in millions) Sales CHEMICALS Latest quarter Change from '73 American Cyanamid Dow Chemical Du Pont Ethyl W. R. Grace S 410.50 1,016.60 1,612.00 196.25 742.08 +15.1% +44.7 +15.1 +19.6 +20.1 Earnings Latest quarter Change from '73 Profit margin S34.90 83.60 144.00 13.70 26.01 + 18.7% + 44.4 + 4.3 + 12.9 +128.6 850% 8.22 8.93 6.98 3.51 pear to be a major problem for most companies because the lifting of price controls allowed many increases to be passed on. Commenting on Cyanamid's quarterly showing, Chairman Clifford Siverd declared that "the price erosion that had depressed earnings since the late '60$ was finally reversed toward the end of '73," He predicted "another record year"Tor the company in '74, adding that Hooker Chemical Inti. Min. & Chem. Monsanto Koppers Reichhold Chemicals Rohm and.Haas Stauffer Chemical Texasgulf Union Carbide 340.22 +48.3 233.88 +47.9 838.20 +20.6 158.65 + 8.5 101.20 +58.6 228.97 +28.0 225.00 +30.7 105.485 +45.6 1,109.64 +22.6 27.02 17.44 107.40 9.08 5.60 20.19 25.50 25.87 94.08 +249.9 +131.11 + 45.5 +142.1 +124.0 + 30.3 + 55.2 +193.5 + 42.0 7.94 7.46 12.81 5.73 553 8.82 11.33 2453 8.48 Cyanamid's major product lines are fairly well insulated from shortages. Because Cyanamid's main chemical stake is in specialties, he said, the firm's material needs "are modest in comparison with those of large-volume, basic chemical commodity producers." Monsanto broke down its report by op PHARMACEUTICALS Abbott Laboratories Baxter Laboratories Merck Miles Laboratories Pfizer Upjohn 165.33 105.48 297.25 92.23 353.70 194.48 +18.8 +35.3 +13.6 + 6.7 +24.9 +29.9 12.51 7.91 44.81 4.45 37.40 23.37 + 17.4 + 48.0 + 14.5 + 1.2 + 33.6 + 32.1 757 750 15.07 453 1057 12.02 erating units, thereby revealing a more complete picture of upswings and down turns in different product lines. Monsanto Industrial Chemicals, for instance, boosted earnings to S38.1 million in the first quarter from $22 million in the yearago period. During the same quarter, PULP, PAPER AND PACKAGING American Can Continental Can Crown Zellerbach Federal Paper Board Fibreboard 573.35 681.78 388.15 70.50 71.48 +18.6 +20.6 +14.4 +22.4 +18.1 17.67 20.89 27.26 3.40 4.30 + 53.8 + 27.2 + 8.8 +100.0 .+ 74.4 3.08 3.06 7.02 4.82 6.01 however, Monsanto Polymers & Petro chemicals' earnings dropped to $12.3 mil lion from $13 million in first-quarter '73. Some Setbacks: CPI gains, although widespread, were not universal. Earnings of some glass and glass-fiber companies, Kimberly-Clark Mead Potlatch Scott Paper 365.60 356.02 121.46 263.97 +24.4 +18.0 +10.3 +16.2 OTHER CHEMICAL PROCESSORS 29.303 13.48 12.59 16.09 + 36.9* + 68.9 + 50.6 + 14.6 8.01 3.79 10.37 6.10 in particular, seemed to suffer. Owens- American Petrofina 213.05 +189.3 13.08 +176.3 6.14 Coming, Libbey-Owens-Ford and PPG Industries reported substantial drops in income vs. same-period '73. Owens-Corning President William Boeschenstein blamed "rapidly escalating costs of raw materials and energy and Phase IV rules" for his company's failure to translate increased sales into higher earnings. Both L-O-F and PPG also cited auto production and homebuilding slumps as factors hurting income. Beker Industries B.F. Goodrich Certain-Teed Prods. CPC International Eagle-Picher First Mississippi FMC Inmont LibbeyGwens-Ford Owens-Corning 24.62 +60.3 442.72 + 8.3 131.70 +32.2 544.74 +36-2 80.89 +16.1 36.90 +466.7 477.20 +19.9 108.18 +11.6 151.18 -13.9 194.94 +16.3 5.51 15.03 4.44 17.28 3.75 4.94' 23,10 3.03 7.13 9.81 +135.4 + 15.0 + 0.1 + 12.1 + 22.6 +467.1 + 17.9 + 3.3 - 59.95 - 15.7 22.37 3.39 3.37 3.17 4.64 13.38 454 250 4.72 5.03 On the other hand, some glass com panies registered higher profits. Brock way Glass boosted quarterly sales to $74.4 million from $63.1 million in the '73 period, earnings to $3.9 million from $3.1 million. Owens-Illinois reported record quarterly earnings, but Chairman Edwin Dodd added a note of caution about "uncertainties" that could in fluence second-quarter showings. Owens-Illinois PPG Industries Robintech Sherwin-Williams Uniroyal 521.49 386.41 20.97 161.27 531.00 +245 + 4.4 +42.9 +12.4 + 7.3 24.68 19.51 1.33 0.47 11.50 + 89.3 - 18.6 +155.2` _1 - 14.2 4,73 5.05 6.33 --2.17 'Before tax credits of $3.9 million in '74 and 5820,000 in '73* 3Out*ide zinc and lead smelting and refining charges not included. 3 Before $4.8 million special credit in '73. * Before 3.5 million capital gam in '74. * Excludes $1 million special credit in '73 from plant tales. 6 Before $1.26 million special credit in '73. 727,000 loss in '73. V \r. April 24. 1974 CHEMICAL WEEK 15