ICI <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 <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.