FACTS & FIGURES FOR THE CHEMICAL PROCESS INDUSTRIES An Annual C&EN Feature
\
BUSINESS OUTLOOK
58
2
EXPORTS AND IMPORTS
86
3
MEDICINAL CHEMICALS
90
4
ORGANIC CHEMICALS
107
5
INORGANIC CHEMICALS
115
5
BASIC MINERALS
124
7
AGRICULTURAL CHEMICALS
130
8
POLYMERS AND COATINGS
134
9
CHEMICAL SPECIALTIES
141
SEPT.
7, 1 9 6 4
C&EN
57
1
BUSINESS OUTLOOK
BUSINESS IS GOOD THIS YEAR—AND GETTING BETTER. By most measures 1964 will be the best year ever for chemical products DAVID M. KIEFER, Senior Associate Editor, It doesn't happen often. Unfortunately. Occasionally, though, most of the factors affecting business turn favorable at about the same time. The deck seems to be stacked with aces. And 1964 is coming close to being one of those happy years for the nation's chemical producers. Demand is high. Profits are rising. Plants are straining at capacity. Prices are firmer. Even taxes are less of a burden. Optimism and confidence prevail. Most businessmen and economists at present see no reason for a sharp reversal in present trends, barring some unexpected calamity in foreign affairs, before the end of the year. Beyond then, of course, the prospects are more murky. The current business expansion has been under way now for about three and a half years. That's surprisingly long for any peacetime uptrend. The odds should be getting shorter, then, against the current prosperity's continuing throughout 1965. The consensus, though, is that the momentum of the current expansion will continue at least through the first half of next year. You can even hear a few bluesky comments that good times are here to stay. Right now, there are no really dark clouds on the horizon. Gross national product moved up to $618.6 billion during the second quarter of this year, a gain of nearly $10 billion from the previous three months and of more than $40 billion in the past year. Personal income in July hit $490.8 billion for a 12-month gain of $26.8 billion. Personal spending increased 58
C&EN
SEPT.
7,
1964
CHEMICAL AND ENGINEERING NEWS,
by $24 billion to an annual rate of S396 billion during the June quarter. The automobile business is having a record year, with output of its 1964 models totaling about 7.9 million cars. The steel industry is likely to pour 120 million—possibly more—tons of ingots by the time the year is over, a new high and at least 10% above last year's output. Aluminum production is certain to reach a new peak this year, too. U.S. business plans to pump a record $44 billion into new plant and equipment during 1964, an increase of 12% over 1963. All this spells greater demand for chemical products and the happy sound of cash clinking into chemical producers' money boxes. No wonder industry executives are confident.
Washington, D.C. Some typical comments: • "Good business continues. The third and fourth quarters should show further sales and earnings improvement. For the first time, our annual sales may exceed $1 billion (up from $963 million in 1963)," says Allied Chemical vice president Frank L. Linton. • "The demand for all of our products is strong, particularly in the fibers and chemicals areas," Celanese president Harold Blancke notes. • "The improvement in sales and earnings will continue through the balance of 1964," Hooker Chemical officiais expect. • "If current price levels are maintained through the rest of this year,
Shipments of Chemicals Will Hit a New High This Year Manufacturers' shipments (chemicals and allied products) (Billitos eff Dollars)
21
14
tea?
tees
Sams*feaVBtptof
teas
ieeo
CKN«ftia»ts
ieei
teat
leea
iee 564
269,476 251,119
283
$337,775
$6,111 > 5,802 5,669
5 964
> 844
174,337 170,259
182
$241,197
... ... > 304
24,573 26,753
31
$82,967
$4,275 ~ ^58 . . . 4,411 4,319
4
^^ 2J
wm
$250,326
~ 61 m
$68,101 ^m 1M 56,781 58,900
$149,872
> 078
283,961 264,117
317
0.26 0.23
L2%
0.8 1.0
1.7 2.1
L5%
74 -46V2 78*4-40%
> 494
21,417 19,936
27
$32,608
$L60 1.20 1.10
1·40 3 ·9
2.22 2.07
·00
7.9 7.9
3
9.7% $3.26 9· 7
7.5 7.5
·
> > > 92> · ' °·74' °·60 3· 1 25V2-l27/8 25.9 71,716 2.9 47,759 36,496 12,146 81,7863,656* 4.5 7.7 1.06* 0.60 2.5 3>m-WA 23Λ 1960 55,022 2.9 41,602 25,152 2,391 70,852-c 2,988* 4.2 7.2 0.98* 0.60 3.0 241/8-161/2 a Includes other operating revenue. * Includes equity in earnings of 50%-owned companies. Excludes nonrecurring net gain from sale of Aquaness Department of $1.1 million ($0.33 per share).
mm
$937,080 £1 $624,676 ^ m mm 7^158 1961 898,110 2.1 570,425 1960 819,891 1.9 543,908 - Includes other operating revenue.
1962
1963
- Fiscal year ends Sept. 30. * Plus 2% stock dividend.
$319,456 226,051 223,276 1960°
KO
H
m
(/)
ζ
O *° m
^
1962α 1961* 1960°
$1,586,900 2.7 1962 1,505,776 1961° 1,503,603 1960 1,342,645
DESOTO CHEMICAL 1963 ΛΛ.τΙη Γ 1962 COATINGS, INC. 1961
CROWN 7ELLERBACH 1963 ^nn '- LUL·L,xunv,,, 1962 CORP. 1961
mm
2.3 2.5
2I wm
$102,229 3J 4.6 50,285 4.3 47,547 79,566 3.8
370,338 353,915
^
$394,472
$1,462,803 2.0 1,241,091 2.2 1,192,119 2.5 1,094,939 2.1
^
21,278 16,789
^
$14,683 ^
604,878 576,326
χχι
$722,014 22,259 21,183
^
$23,836 3.7 3.7
44_26%
3^3%
2T5 2.7 2.9 594,243
$33,839 L6 29,557 2.2 27,140 2.5 1960 24,148
3,722 3,452
$4,380
$23,546 21,417 20,209 2.7
$16,681 11,493 9,490 18,639
$ 364
19,173 26,468
1QJ 17 6
$16,942
$43,136 31,709 27,664 27,991
$249,173 157,526 147,853 164,063
c
2.13 2.02
1.12 1.12
$ÎÏÏ6
4.1% 2.60 2.40 2.40
$TÔO 4.9 3.9 4.2
3.1 4.1
2?8%
10.8 59y2-44% 58y2-49y8 53y8-393/8
3
47 /2-24 /8 33 -2iy2
1
$49 -33%
$72%-55% 5.0 4.5 5.2
4~4% $27%-181/2 257/8-15y4 13.2 30%-20% 15.7 293/4-173/4 13.9
16.9 13.5
ÛÛ)
10.1 11.7 12.0
ÎÔ~4
2 00
$1.90 1.75 1.70 1.70
3.2% 3.5 3.2 3.5
$661/2-531Λ 56 -43y2 WzrWA 57V6-40
15.4 15.4 17.7 16.8
$L8Ô 1.80 1.80° 2.81
9.2
1943/4-145y2 186 -124
$2121/2-1523Λ
$243/4-131Λ
1.2 1.3
1.4%
ÏÂ% $60%-45 2ÏTÏ 3.7 59%-37y2 19.7 3.0 67 -5H4 25.4 3 1.80 3.8 54y2-39 A
16.8
44.9 48.
39?5
2.2 26%-18 18.3 20%-143/8 12.3
3.2% 8.8 1.21 0.48 1.41 0.48 2.8 6.4% 9.0% $2.50 6.6 9.1 2.47 6.5 8.9 2.33 40,076 7.2 9.9
3.1 10.8
$0.60
10.9% 18.1% $4.62 $2J» 1943^.10514 36.5 11.3 17.9 3.79 2.00 10.3 16.7 3.23 2.00 4.2% 12.9% $2.06
25,926 22,055
L3
$31,576
$7,000 $70,810 $3,664 5.2% 15.6% $1.06 $Ô~4Ô 2^8% $191Λ-91/8 13~4 3,200 58,045 2,937 5.1 13.7 0.84 0.40 4.1 12%-7% 11.5 1,580 51,112 2,707 5.3 13.4 0.77 0.30 2.7 W/z-lVs 14.5 8,945 . . . 48,426 2,607 5.4 14.0 0.74 0.50 5.9 10 -7 11.5
$614,735 $39,319 589,102 38,786 562,604 36,679 39,039 553,711
10.4% $3.88 9.4 3.23 9.2 3.02 9.2 2.91
Plus 2% stock dividend.
$50,257 5.9% 16.4% $2.26 $1.425 2J5% $60y2-497 24^2 46,250 5.8 15.9 2.08 1.325 2.6 60 / -40 24.2 7 8 42,572 5.7 15.5 1.92 1.225 2.4 63 /38-37 1 26.3 38,185 5.5 14.8 1.74 1.10 3.3 42 Λ-23 Λ 19.0
$13,288 $558
229,569 214,871
ΑΛΙ
$289,217
$856,887 803,319 745,836 691,370
$1,147,142° $87,365 7.6% 872,278° 69,077 7.9 805,724° 64,527 8.0 776,476° 62,113 8.0
4,370 2,165 10,583 326 2,386 360 9,767 374 3.8
$4,540
82,685 74,535
$434,763 $399,736 $60,515 424,183 369,747 53,258 413,995 349,222 32,995 2.8 404,030 347,656
7,369 2.5 5,121 2.0
2.4
145,199 132,006
2g 097
$90,358
$247,578 222,828 211,594 201,944
$924,391 752,182 758,544 718,992
17 970 262 200
$174,795
$307,088 290,998 274,120 257,862
$836,273 734,416 702,908 672,925
10.2 9.9
16.1
9.9% $2.28
6.4% 8.6% $5.92 60,185 5.6 7.7 54,617 5.1 7.2 41,320 4.2 6.2
$2.60 5.14 4.60 3.85
$6,711 4~4% 8.1% $2.21 3.2 6.1 1.56 1.00 3.4 6.4 1.64 1.00 3.3 6.3 1.71 1.00
Ratio
$45,838 $6,296 $86,199 $5,984 6.9% 11.0% $2.00 $0.825* 3JL% 5 $303/4-22 YU. 5,161 80,681 4,944° 6.1 9.8 1.690.80* 3.0 37 /8-15y2 15.7 2,6Q6 63,841 5,505 8.6 11.6 1.90 0.65* 2.1 39Vfc-13% 15.9 32,960 2,334 62,337 5,106 8.2 11.4 1.79 0.50 c 2.6 25y2-133/8 10.9
131,348 123,542
nm
$137,279 mm
$54,392 44,683 32,181 44,889
219,153 214,219
2Q376
$240,718
g7 352
2^9 2.9 3.0
° Plus 10% stock dividend.
$652,163 627,657 605,928 1960
1961 1960
$8,879
191,398 174,378
159 g46
$228,598
$527,492 7Λ 487,727 2.2 458,357 2.0 424,967 2.1
205 903 30
1963
1961 1960
1962
1963
CORNING CLASS WORKS
COWLFS CHFMICAI CO
$153,066 4,757 4,925 4,443
$898,699 $925,653 $116,456 $1,213,949* $77,505 2.2 781,622 882,280 140,543 1,083,420* 2.4 756,753 879,044 133,962 1,068,591* 2.7 667,831 812,793 113,699 980,633*
° Gross operating income.
1963 1962 1961 1960
1963 1962 1961 1960
CO
$13,452 149,150 143,110 133,494
° After special charge of $924,408 ($0.32 per share) reflecting write-off of Estes receivables. * Plus 1% stock dividend.
CORN PRODUCTS CO
CONTINENTAL ON
mm
1963 95,999 78,946 1960
1961 1960
1963
1Q62
wLuniLrnLmuLiVLbU.
COMMERCIAL SOIVFNTS ΛΛΓ 1962 CORP. 1961
$66,637 11,846 9,471 6,486
Net Income Dividends, Dividend Stock Price Net Net % of % of Net $ per $ per Yield, % Price Earnings Sales Income Sales Worth Share Share of Price Range ($)
Includes equity in undistributed earnings of unconsolidated foreign subsidiaries and 50%-owned domestic and foreign affiliates.
$82,874 59,007 55,054 51,181
Net Capital Net Plant and ExpendiWorth Equipment tures
° Includes Columbian Carbon, acquired January 1962. ° Gross operating income for all years.
α
Current Ratio
1963^ $142,598 2?8 136,270 2.8 78,006 135,078 3.0 76,671 125,936 3.2 70,221
Total Assets
COLGATE-PALMOLIVE CO
CITIES SERVICE CO 1963
CHFMFTRON CORP " π - , ν Μ - , ί λ υ η υυίλΓ
ν
Money figures in thousands of dollars unless otherwise indicated Year
^ · 185,093 6.5 181,449 5.9
Gross sales for all years.
lg62a 153 057
1963^
a
mm
Current Net Ratio
$174,511 ^ mm 211,001 6.8 203,689 6.1
χ%2
Ï963
Total Assets
Β F GOODRICH CO
GLIDDEN CO υυ.
GENERAL TIRE & Ϊ963· 1962α πιηηπΛΛ RUBBER CO. 1961»
CD
H
^
•*
— .
GENERAL A N I L I N E & 1963 1962 en,. Λ ΛΟ η FILM CORP. 1961 I960
—
FREEPORT SULPHUR CO i-Lruni ouLrnuR ου. 1961 1960
•H
C/5 Τ)
z
9 ^ "
Money figures in thousands of dollars ^ unless otherwise indicated o> Year
SEPT.
7, 1 9 6 4 C & E N
77
1%2
190,554 187,341
b5m
151,755 4.5 139,016 3.7
1961» 1960»
105,295 94,404
U29gg
$119,515
52,585 50,626
23,091 21,133
1 g2
2,689 2,175
576Q
$7,523
26,480 15,316
$23,200 149,026 13,225 11,928
139455
$33,984
$124,303 28,451 93,471 91,922
3g41
$35,227 33,500 32,856
32g0g
l5m
b
$16,846 Ο $7,087 ^945 3g3g lm 11,903 4.0 6,327 8,241 3.8 5,114 2J
$514,687 iÛ 3.2 w,m 359,217 2.9 350,340 3.0
$365,031 318,002 272,755 257,868
L0Q6
4,991 5,698
25β
$6,618
11,987 12,689
3 0
1,400 ...
0
$ 464
2^9% 6.5% $0.41 503/8-20y2 38.1 7.6 14.7 0.88 708 7.7 13.8 $33,920 6.3% 9.3% $3.31 31,546 6.1 9.9 3.20 30,481 7.4 11.2 3.34 31,343 7.8 12.2 3.51
12,166 928 9,188
03 QMa
$15,974
$539,038 515,239 410,500 403,759
^
4Q{) 5 Q
7ÏÏ%
0.0 0.00 &
$238,147 âTÔ 1962 225,238 1961 221,452 1960 212,265
56^-30^ 0.0
14.4 13.7
ϊδΤβ
49.3 39 -19
6772
123%-94i4 139y2-9iy2
$ 86 -71
$343Λ-20%
4.1 3.9
5.1%
1 10.
ΓδΤΟ
18 16
Î2I
$L85 3^0% $723/4-52% Ï8~9 1.80* 2.9 79^-45% 19.5 1.806 2.1 93 -76y2 25. 1.80 & 2.4 Wa-WA 21.
0.006 0.72
$0.00» Ô
6.9% $5.02 $ÔÔ 9g _62 13^ 3,633 12.2 10.8 7.56 4.50 4,051 13.0 12.3 8.44 4.50 5gg
$2,428
9 Qg 3
47*4-35 491/2-341/2
$403/4-305/8
10% $65%-40i4 57 -34 15.0 3.6 54^-34 4.9 3&A-Z$
3.4 3.3
3^9%
24. 20.
31. 23.
22.6
$ 6,819 15,359 2,000 58,633
$239,958 232,068 222,198 20,970
2^6% 1.25 1.25 1.00
$56 -39% 29J6 3.0 50y2-3iy2 25. 3.1 47y8-32y 2 2 1 1 2.7 42 Λ-30 /2 31.
$39,307 16.4% 17.1% $3.75 $2^ 0% $567/s-50% 14~4 37,752 16.3 17.4 3.62 2.45 4.7 623 -43% 14.5 34,753 15.6 17.1 3.34 2.40 4.4 60 /8-48y8 16.2 294,076 43,754 14.9 22.2 4.18 2.55 4.4 70y2-46y2
$194,053 $99,363 $20,480 $241,919 $25,756 10.6% 13.3% $1.62 $L25 3.7 188,879 86,933 12,955 213,341 25,477 11.9 13.5 1.60 3.9 186,532 80,820 9,179 198,118 23,076 11.6 12.4 1.44 4.6 183,846 77,958 8,490 178,548 18,752 10.5 10.2 1.17
$230,182 $55,895 216,772 54,419 203,468 53,183 3.6 197,005
14.
1 $156,723 $87,545 $17,980 $292,834 $7,281 2^5% 4.6% $3.01 $2ΛΚ) 4~8% $43%-39 Λ ΜΛ 3 156,624 87,923 13,125 301,148 7,825» 2.6& 5.0 3.21» 2.00 5.1 44 / -33y 12.2 4 2 6 2.9 155,603 92,405 21,268 273,443 6,721 2.5 4.3 2.67 2.00 4.7 48^-36 15.8 2.9 152,224 93,654 19,498 302,539 7,474 2.5 4.9 3.06 1.90 4.7 46%-34y8 13.2
$20,927 33,044 37,950 15,867
$34,275 2gg5
29,758 31,045
%J
$1,500 χ Q37
4.3% 11.2% $2.93 $L40 391^.25 12.5 14Q M 3.8 9.5 2.21 1.40 4.5 11.3 2.63 1.40
8.7% 12.5% $1.88 $1.0256 £1% $397/8-32y2 ϊθΐ 4μ/2_26 lge5 8.0 11.4 1.60 1.00 2.6 43%-34% 8.5 12.7 1.70 1.00 2.9 411/8-271Λ
$184,180 $10,295 & 5J6% 8.6% $3.53 6 $L60 8,418 5.6 7.6 3.04 1.60 3.5 131,831 8,143' 6.2 7.7 3.071.60 123,870 7,481 6.0 7.9 3.00 1.60
$152,204 ^ 1Q4 130,670 125,791
150,102 149,821
$15,865
$0.75 1.9% $431/2-341/8 1.9 52%-27V4 23.6 0.65 1.4 55^-39% 0.65 1.8 41%-30%
» Includes profit from sale of Thomas Flexible Coupling Co. equivalent to $0.34 per share. b After deduction of loss from property damage due to hurricane.
$222,781 2^8 221,941 3.3 1961 226,160 1960 214,749
~ 32Q74
2,915 1,856
$282,780 237,710 196,576 171,259
» Fiscal year ends April 30. b Plus 2% stock dividend.
1961» 1960»
1%2a
1963»
$4,290
$34,492 ^ 30,782 ... 30,252 ...
15532
» Paid 3% stock dividend. Paid 2% stock dividend.
1961 1960
χ%2
1963
» Fiscal year ends June 30. b For year ended Dec. 31.
1963^ $51,722 3^3 1%2a ^^ 4 1 34734 1961» 48,350 5.3 1960& 48,743 4.1
ELI LILLY Ri CO
1963
117,807 100,604
$182,741
» Fiscal year ends June 30. b Excludes special charge of $2.8 million. c Excludes special credit of $1.6 million.
mm
lg3623
44
$59,008 25212
1%2a
2?9
3.6 3.6
2J
$215,710
68,458 67,435
2J
$92,212
105,399 100,267
$15,145
15 053 8 5 12 5
$128,308
15 gl2 177 3gl
$126,883
Plus 2% stock dividend.
1963°
1961 1960
73?26
1963
b
3.0 3.7
» Fiscal year ends Nov. 30.
1961» 1960»
3Λ
3 2 120 519 125 121
$216,925
1962o 209 155
1963»
$279,428 4JL 260,294 4.6 248,634 4.2 1960 251,124
Ï963 1962
2J
$345,591 3.3 $256,271 $162,356 $29,964 $476,462» $31,935 6.7% 12.5% $1.72 mm 159,265 35,637 454,829» 31,261* 6.9 13.5 1.69 & 0.75 291,236 2.5 213,242 152,776 41,568 380,182» 27,978 7.4 13.1 1.52 261,845 2.4 188,989 135,361 58,796 336,905» 27,165 8.1 14.4 1.53
» Includes other operating revenue for all years. b After loss from sale of assets.
1961 1960
31g 5gy
1963
LIBBEY-OWENS-FORD 1963 „ Λoo ™ 1962 GLASS CO. 1961
KOPPFRS ΡΓΙ υ
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I N T F R N A T I O N A I S A I T ΡΩ m i L m i H i i u i i m . O«LI UU.
I N T F R N A T I D N A I Μ Ι Ν FRAI S imiim^MunnL miMLRnLo & CHEMICAL CORP.
I N T F R P H F M I P A I PORP ΐ Ρ Μ ϋ κ υ π π ν ι ι ο η ΐ - υυίΛΓ.
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1%2
1963
NALCO CHEMICAL CO
MONSANTO CO
MINNESOTA M I N I N G & • rZm Λ ™ MANUFACTURING CO.
MILES LABORATORIES
$39,117 7.7 39,130
39714
ηι
26,880 7.2
lim
77b
$6,987 6,868 6,635 3,982
Net Net Worth
10,626 26,413
U247
$26,978 37481
$1,931
$4,958 4,395 4,239 4,260
866
3>2
$210,598 $159,764 $16,043 $467,690 $15,011 3^2% 7.1% 2.8 198,593 158,327 17,540 435,116 14,049 3.2 2.7 193,156 153,200 18,915 405,504 12,026 3.0 2.7 167,224 145,438 16,812 338,788 13,746 4.1
1962 1961 1960
1.6 2.0
L6
10,286 3.1
10739
5~4
$618,996 2^4 540,947 2.7 477,900 2.5 433,981 2.5
53,154 45,219
$61,272
3.5 17,786
4>9
$16,731
1961 1960
3g Q26
1963 ^
36,114 32,094
^^
$44,468
2.9 3.0
nm
ΪΛ
$784,233 2.5 2.1 2.7
° Plus 2% stock dividend.
$1,416,072 ÏÂ 1962 1,324,862 1961 1,142,273 1960 1,089,645
28,992 25,902
1Q 32g
$34,138 ^m
$782,153 717,586 651,229 599,963
$454,460 405,220 353,102 318,660
27,433 23,389
$2700 2.70 2.51 2.57
$L7Ô 2.51 2.16 2.58
2Λ% 1.80 1.60 1.60
550
$ 8,247
14,575 12,619
^^
$22,814
$114,502 769,872 680,804 615,702
$260,586 217,309 203,801 186,196
27,921 21,849
$29,269
3,938 2,280
^
$ 3,088 g Q
^
$692 0J1
6\4% 0e(K)
03
0.60 0.50
$5765
0.0
151/2 _ 9 205/8-10%
6.0% $0.90
51,576 48,339
{m
$60,159
64
4,803 4,231
2 Q
$4,733
$1.20° 2.70 2.45 2.49
^
9.3 16.6 8.8 16.3
_35
1.97 1.75
7.9% 13.9% $1.94
7.0% 10.6% $2.77 78,368 7.4 10.9 68,656 7.4 10.5 67,807 7.6 11.3
1.00 1.00
$UK)
2ÏÏ% 1.05° 1.00° 1.00°
ΠΓΪ 48y12-33H1 49 /2-35 /2 48 -3iy2
ÔTÔ
1
45 /8-24 /2 27Vfe-20%
1
$33%-24Vi
25.4 22.4
ϊδ\8
ϊδΤΪ
28.7 33.7 33.0
16.3 19.7 15.
1.7 2.4
L9%
$64%-49 2.4 2.0 2.2
26\9
16.2 20.9 18.3
69 -49 29.9 50 -34% 24
$59y2-45
20 52y2-35 58%-44y 8 557/8-35y8
L4% $73%-52% 36^3 1.4 70y4-4iy8 34.6 0.8 87%-66% 52 3 0.8 88 -53 /4 51.4
1.7 2.1
2~2%
$16V4-11
637.5
$111Λ-61/8
$110 -11V2 2δ\2 2.3 947/β-60 1.9 95%-74 1.9 96%-73
$473/8-371/8 4.2 4.0 4.3
211Λ-101Λ
$761,820° $90,639 11.9% 19.9% $1.73 $(UÔ 687,086° 83,690 12.2 20.7 1.61 0.80 608,230° 74,915 12.3 21.2 1.46 0.65 549,675° 70,692 12.9 22.2 1.38 0.58
95,492 86,460
$107,833
$1,192,270 $82,990 168,833 1,063,195 153,818 932,916 121,253 890,114
$55,000 33,000 42,000 39,000
8,280 6,754
5el
$10,766
(295)° (0.38)° 0.00 0.0 8,451 (116)° (0.15)° 0.00
545 5 3
$2,499
9,879 2,533
10368
$ 527
ÛTU 56 -40 24.7 1.8 68 -44
$44y2-33%
206.2 1512.5
Ratio
$ 690 77. $2,321 $148 6\4% 4.3% $0.43 $00 Ô7Ô 793 ... 1,948 (109)° (0.32)° 0.00 0.0 12 -5% $392 1,937 7 0.4 0.3 0.02 0.00 0.0 17V&-8 1,874 75 4.0 2.2 0.22 0.00 0.0 16V4-7V4 54.0
9,799 518 10,762
$32,134
11,083
8796
$11,612
$3,701 9L5 $3,398 3,385 17.6 3,251 10.0 3,360 1,046 11.5 3,353 982 ...
° Includes other operating income.
1963 1962 1961 1960
1961 1960
1963
° Deficit.
16,563
16jl38
1963
° Deficit.
1960
$2.62 7.1 6.2 8.2
$270,032 3J $215,439 $83,226 $13,500 $264,599 $35,829 13.5% 16.6% $3.33 252,362 3.5 203,125 85,772 17,200 240,521 29,244 12.2 14.4 242,630 3.8 197,654 81,864 14,700 228,578 27,191 11.9 13.8 224,444 4.3 187,535 77,549 9,400 218,144 27,813 12.7 14.8
° Includes equity in net assets and earnings of affiliated companies owned 50% or more.
$337,763 2^6 1962° 315,232 1961° 307,563 1960 251,410
2.1 1.00
2^6%
~ 14%-6% 225/8-7%
trice Earnings Range ($)
0% 1.70 1.70 1.70
3.7% $2.33° $U)0 5Q1/2_33 206 3.1 1.94 1.00 2.9 3.9 2.42
2^8% 2>03 L00 2 > 4
2.4 1,034
$ 993°
830 35,507
2>3
$35,506
($39)* ~ 77. ($0.03)° $ÔTÔÔ Ο $ 9%-5% 61 1.4% 0.9% 0.05 0.00 0.0 6 0.1 0.1 0.01 0.00 0.0 (465)° (0.50)° 0.00 0.0 135/8-65/8
met ιπυυπίϋ Dividends, Dividend Stock Net Net % of % of Net $ per $ per Yield, % Price Sales Income Sales Worth Share Share of Price
1,668 33,974 12,197 1,111
1 757
$11,948
$4,681 $240 4,985 581 4,899 184 5,258 596
Capital Plant and ExpendiEquipment tures
° Excludes extraordinary write-down of niobium-tantalum inventories to market, less tax reduction, of $0.9 million ($2.23 per share).
1960
38,994
Ï963
° Deficit.
1%2
Current Ratio
$9,328 Ο 4 3 M31 · 8,334 4.5 8,693 4.0
Total Assets
1963 1962 1961 3,600 1960 3,575
Î963
1963°^
M I C H I G A N CHEMICAI J'" ^ntmioML 1962 kUKP. 1961
METAL HYDRIDES "'
MERCK & CO
MEAD CORP
MALLINCKRODT CHEMIPAI »,ΛΓ ontmiuML WUKKb 1961
LITHIUM CORP OF 1963 1962 ΛΜΓΠΙΛΑ AMERICA 1961 1960
Money figures in thousands of dollars unless otherwise indicated Year
SEPT.
7, 196 4 C & Ε Ν
79
1962
1963
î9^3 1962 1961
OWENS-ILLINOIS "",; . ',Γ GLASS CO.
LTD 1962
PHAS
PFIZER Â CO
I9**
PENNSALT CHEMICALS î^3 n^nn 1962 CORP. 1961
PENICK & FORD '
PARKE DAVIS & CO ' 1962
1961
OLIN MATHIESON ΛΙΙΡΜ.ΑΤΙ ^ηη CHEMICAL CORP.
ï^3 1962
NORWICH PHARMACAL CO rnMmviMUML uu.
NOPCO CHEMICAL CO î9^3
NATIONAL STARCH A N D 1962 ' u ' . , ' . , ™nn CHEMICAL CORP. 1961
NATIONAL LEAD CORP
NATIONAL DISTILLERS Λ Μ Π Λ Μ Γ Μ Ι Λ , ™nn AND CHEMICAL CORP.
^
^
41 443
$45,354 3 0 · 3.1 34,440
399,143 381,505
$410,992
3.1 26 >?" 24,861 3.8
3.1 3.1
2T9 144,779 141,397
$36,707
2J6 35,018 32,595 24,066
34,574 31,291
3 4
$39,145 37 g96
10,020 8,603
51 363
$11,476 2 085
2,322 2,347
6 681 13 0
$2,165
$366,467 $262,378 $34,632 350,429 255,635 34,769 339,226 250,136 45,774 3.4 325,667 228,302
51,742 52,406
$49,593 9.3 9.3
16.0 16.8
4.24 4.29
8.0% 17.2% $4.20
48,226 45,165
22 0
$53,025 1 70
Λ
4J% 8.4% $2.86 4.6 8.2 2.63 4.6 7.8 2.47 38,219 5.7 9.3
$OÔ 1.00 1.00 2.86
$189,184 $22,164 181,708 19,074 15,253 184,304 16,439 200,003
11.7% 10.5 22,326 30,470
13.2% $1.49 11.9 1.28 12.1 14.3 15.2 20.3
1962 1961 1960
$393,336
L8 348,237 300,364 261,470
$248,515 $154,988 $29,500 $414,290 $40,306 9.7% 16.2% 2.1 235,293 148,103 31,498 383,573 36,494 9.5 2.1 191,603 121,348 18,304 312,433 31,443 10.1 2.3 168,368 111,503 23,042 269,376 26,183 9.7
$2.08 15.5 16.4 15.6
$U)5 1.93 1.74 1.58
$128,688 2^3 $79,330 $56,015 $13,590 $136,179 $8,071 5.9% 10.2% $1.78 $00 108,558 2.6 65,918 47,596 10,694 105,178 6,365 6.1 9.7 1.61 0.80 94,191 2.9 63,712 42,118 5,250 95,633 5,506 5.8 8.6 1.40 0.75 1960 87,099 3.0 59,211 46,211 9,566 90,919 4,944 5.4 8.3 1.26
$0780 0.78 1.14 0.73
$TÔÔ 1.00 1.50 2.05
δ Includes capital gain from sale of foreign properties.
$2750 2.50 2.50 4.19
$36,921 δΤβ $32,104 $12,801 $1,467 $58,787 $4,047 6.9% 12.6% $0.93 36,307 5.1 31,534 11,961 1,349 57,820 4,393 7.6 13.9 1.00 1961 36,445 4.2 30,764 11,072 1,788 57,009 4,996 8.8 16.2 1960 35,211 3.9 29,262 9,977 636 55,525 4,738 8.5 16.2 1.08
$227,114 24 $167,408 $83,128 $ 6,468 210,934 2.6 159,974 83,997 7,880 1961 215,980 2.4 155,688 83,697 1960 217,979 2.2 150,293 74,693
3.25 3.25
$3^5
3^8% 1.00 1.00 1.00 e
3.7 3.5
4^5%
99%-78 109VW8
$783/8-663Λ
20.9 21.
ϊ
18
25. 21.
23.
16.
2A% 0.95 0.85 0.80
$55y2-443/4 24~ϊ 2.1 57%-33% 7 2.0 53 /8-305/8 2.5 3814-26%
23. 24. 20.
2^2% $471Λ-34 2^8 , 2.5 41 -23% 20.0 2.0 45%-28% 26.6 0.70 2.6 30%-22% 21.1
$26y2-1775/8 23J 25y4-14 /8 20.1 3.5 25*fe-16% 20y8-145/8 1.6.1
1 $361Λ-24 /2 204 383/4-18y2 3 22.4 3.0 44 /4-32y5 8 3.2 5iy8-36 /8
3^6% 3.9 0.73 4.2
3l% 3.5 1.15 1.40
2L7 697*41% 34. 59 -37%
$44%^4
$47%-31% 13.8 41Vfr-26 12.8 52V4-39 18.5 2.2 54%-373Λ
1.9 1.8
2.7%
$29%-23 2Ô!Ô 3.4 38%-21 1 1 2.3 57 /8-303/4 32. 2.9 41%-26%
3Λ% $ 891Λ-721/8 ϊοΤδ 3.1 96 -64 19.6 2.7 104 -82% 21.9 2.50 2.5 116 -82%
2J5% 3.0 2.2 1.00
13.0% 26.1% $1.78 $L05 591/2-3134 26.8 2 3 6,376 13.2 23.2 1.63 1.05 5,951 13.2 24.6 1.55 0.85
1 05
$6,878
$654,084 $35,116» 54% 9.6% $4.35» 627,766 33,160 δ 5.3 9.5 4.09 596,425 34,359 5.8 10.1 4.26* 33,720 569,396 33,793 5.9 10.4
° Excludes net gain from sale of stock of Continental Can Co. of $4.4 million,
$553,363 Τλ 529,217 3.1 519,635 3.1 1960 499,109
27,491 24,185
$26,330 10 915
$439,323 $420,322 $57,879 $779,216° $36,998 413,560 398,166 53,731 737,33334,082 410,546 387,975 36,861 700,723» 32,125 3.6 411,161 396,151 48,895 668,173»
3.4 3.0
2~ï 30 317
» Includes other operating revenues.
$916,018 4ÏÏ 878,253 3.9 867,589 3.6 1960 873,767
1961 1960
1%2
1963
555,672 562,022
$618,580
$2,271 $75,973 $4,748 6.2% 15.8% $2.08 $0.70* 1.6% $47 -38Vfe 20.6 70,566 4,351 6.2 16.2 1.97 0.66» 1.6 50Vfc-33% 21.3 65,171 3,994 6.1 16.1 1.87 0.60 b 1.4 56 -31% 23.5 5,446 54,423 3,242 6.0 15.0 1.58 0.60& 1.9 38 -26 20.3
17,644 24,262
$13,982
$17,676 $17,119 $2,225 $55,930 $1,525 2J% 8.6% $1.31 $LÔÔ 2.6 17,195 16,575 2,678 53,833 1,852 3.4 10.8 1.60 2.3 16,380 15,265 7,034 46,702 1,534 3.3 9.4 1.35 2.5 15,152 8,669 1,472 39,852 1,762 4.4 11.6 1.62
» Plus 2% stock dividend.
1962 1961 1960
$143,801
$30,088 $17,489 17,700 5,482 16,379 2,577 21,569 15,040
323,949 312,275
$289,169
» Plus 3% stock dividend. h Plus 2% stock dividend.
> 40,337 1960
1963
1961 1960
1963
» Includes nonrecurring income.
$629,234 6.4 $372,782 $215,597 $21,500 $766,866 $22,811 3.0% 6.1% $1.67 $1.20 4.7% $273/8-23y2 15.2 640 315 1 » 7· 372,539 216,245 21,000 775,067 24,226° 3.1 6.5 1.76" 1.20 4.7 303/8-20% 14.5 1961 636,713 7.0 363,730 266,980 29,900 748,053 23,132 3.1 6.4 1.66 1.20 4.3 W3A-2$lA 16 1960 534,957 4.1 282,012 229,499 32,000 580,172 21,415 3.7 7.6 1.92 1.20 4.0 Z^k-Wk 15.6
£ 2
-^
Η
m
z
2
oo
1961''
l%2b
1963
1961°
$70,727 4.6 3.2 51,683 3.8 52,278 4.2 53,476
2~9
2.7 2.7
Net Sales
Net Income Net Income
Dividends, Dividend % of % of Net $ per Sales Worth Share
Stock $ per Share
Price Yield, % Price of Price Range ($)
$50,485 23,302 42,828 41,996
$21,162 ... $7,220 10,600
Earnings Ratio
$757,781 $447,107 $67,292 $1,654,463 $115,765 7.0% 15.3% $2.75 705,527 414,373 56,666 1,619,383 109,356 6.8 15.5 2.61 652,775 389,537 45,163 1,541,905 106,633 6.9 16.3 2.56 594,662 374,885 36,954 1,441,548 98,078 6.8 16.5 2.37
$49,045 $42,980 77. 41,035 ... 109,073 41,461 . . . 102,326 41 45,589 40,617 ...
$208,636 Ï7Î 3.2 88,573 2.8 85,235 146,603 3.2
$98,373 63,454 60,759 74,405
196£α
nol64
4.5 85,809
77,032 4.1
36
° Fisca year ends June 30.
96,555 1960°
Ο
$15,965 2.8 2.5 3.4
$110,922
US 25,456 22,341 20,297
18,623 65,942
87>757
$90,354
$9,333 14,920 17,064 16,091
$18,168 280,850 260,880 11,310
4,892 15,961
20f433
$24,269
151,510 2,297
5>007
1QJ
$17,514
19J
2.86 21.8
2e9Q L00
^Q
0.94 2.42
L4 102
10.% 19.4% $3.01 11.2 22.1 14,381 10.9
17>263
$169,867 17,025 132,288
161>887
$7,273
$11,951» 4.3% 12.1% $2.56° 2.2 7.1 1.40° 0.50* 3.7 11.2 2.20» 0.50* 9,360° 3.9 12.6 2.33°
$0.50* 1.4 1.0 0.50*
28%-17%
2
$143 -9% 2 16 /4- 9 23.
L4% $42%-29 13 52%-20Vfe 26.2 60%-43V4 23.6 1.1 563/8-37y2 20.
0% 0.8 500.0 2.6
3JS% $33%-21Vfc 24*4-16% 11.2 3.8 24%-17% 1 3.7 28 -15% 1
2.1% $ 81%-69% 2.0 92i4-563/8 1.6 1011/2-661/2 2.2 70 -40
1.0 0.71
24e5
$1.00
43.3 93%-57
$ 653Λ-46 lll%-78Vè 0.9
L8%
3.9% 10.2% $2.52 $L2Ô M% $313/4-28% ÏÔ 39,025 1,499 3.8 10.0 2.32 0.96 4.6 241 1,247 3.8 7.3 1.11 1.00 5.9 21 -13 750 2.7 4.7 1.20 0.80 5.9 15 -12 1
$280,511 6,318° 9,581* 242,557 $42,362 $1,632 9,810 ... 8,562 . . . 32,827 8,350 . . . 28,044
* Plus 3% stock dividend.
$70,872 13,120 33,494 35,469 ~
° Includes gain on sales of investments and properties.
1963 197,958 183,807 1960
- Plus 2% stock dividend.
$110,744 $2,046 L8% 4.2% $0.47° $0.10* 2,712 2.5 5.6 0.56 0.10* 0.0 0.1 0.04° 0.50* 2.5 25 -15 99,173 2,376 2.4 5.2 0.86° 0.60-
* Plus 3% stock dividend.
° Includes gains on sales of investments in foreign associated companies. * Plus 4% stock dividend.
$89,644 Ϊ7Ί 2.7 48,003 2.1 44,217 82,397 2.8
Includes equity in assets and earnings of jointly owned companies.
1963 84,908 84,686 1960
n
$ÏTÔÔ 4.2 0.80* 0.80*
$L55 1.45 1.325 1.20
- Plus 2% stock dividend.
$778,531 $45,624 5^9% 8.9% $4.30 $2^25 0% $60 -51% 43,004 6.5 8.7 4.05 2.204.0 67y2-433/8 13.7 34,627 5.7 7.2 3.29 2.203.1 795/8-625/8 21.6 627,965 47,631 7.6 10.2 4.62 2.203.2 80%-55%
:
$35,284 $ 281 0.8% 0.6% ($0.11)° $0.40 2.5% $181Λ-131/38 1,347 3.0 2.6 0.79 0.70 4.1 23 -ll /8 21 262 0.5 0.5 (0.14)" 1.00 4.3 271/2-18% 1,334 2.2 2.5 0.78 1.00 4.7 253/8-171/8 27.
* Includes U.S. subsidiaries more than 51%-owned and wholly owned foreign subsidiaries only.
$130,700 656,670 602,722 25,056
... 45,062 51,973 60,962
1963^ $248,405 4^2 $115,098 $147,739 $14,734 $142,303 $12,637 8.9% 11.0% $2.10 235,663 4.6 108,309 147,916 10,575 141,972 10,888 7.7 10.1 1.81 0.85 1961 227,530 3.5 101,703 154,323 19,579 134,704 7,990 5.9 7.9 1.33 1960 222,953 4.3 98,368 149,479 19,328 129,066 9,504 7.4 9.7 1.63
° Fiscal year ends June 30.
997,614 905,643
1961" 1960"
2 .8
$1,132,260 1064782
1963"
χ%2α
1963^
'NC.
Expenditures
" Includes all majority-owned U.S. and foreign subsidiaries.
RICHARDSON-MERRELL
lMn
Capital Plant and Equipment
1963^ $744,741 Ï7\ $513,756 $383,339 637 736 3 4 > · 493,956 308,715 37,906 620,338 3.5 481,256 314,747 30,280 I960* 624,830 3.0 467,472 321,318
1963 71,317 78,928 79,396 " Deficit.
$26,817 1962 1961 1960
ι-xm-LL,
Net Net Worth
Gross operating income for all years. * Excludes special items, net, of $8.4 million ($0.25 per share). c Includes profit of $14.1 million in 1960 and $3.5 million in 1961 from sale of interest in oil and gas leases and, in 1960, from sale of Canadian property.
a
Current Ratio
$1,759,940 L9 $1,228,782 $1,058,197 $151,322 $1,274,670° $105,463» 8\3% 8.6% $3.15* $1.975 3^8% $557/8-47 l i f 735,346 2.0 1,220,339 1,084,516 156,267 1,244,621" 106,955 8.6 8.8 3.11 1.85 3.6 59%-42 1%2 1,686,761 2.1 1,175,249 1,072,108 131,909 1,220,563" 113,7819.3 9.7 3.311.70» 2.9 641/2-511/2 17.5 1960 1,646,807 2.0 1,122,644 1,079,558 180,654 1,200,172* 112,9349.4 10.1 3.291.70 3.6 54 -41
Total Assets
RICHARDSON CO 1963
REXALL DRUG AND Λυπν/ι,ΛΑ. ™ 1962 CHtlYIICAL CO. 1961
REICHHOLD CHEMICALS 1962 K "NO. 1961
RAYONIER Ί Ν Γ ' 1962"
PROCTER & GAMRI F ΓΩ w UMIVIDLL υυ.
PITTSBURGH PI ATF η Ρ ™ GLASS CO.
PITTSBURGH POKF Λ η ,™.λί? \L 1962 CHEMICAL CO. 1961 1960
P H I M IPS P F T R n i F I I M C() r n i L L . r o rcirxuLLum υυ. 1961
Money figures in thousands of dollars unless otherwise indicated Year
SEPT.
7, 1 9 6 4 C & E N
81
19 a 63 1962»
1963
ηΛηΑΤΛηΐΓΡ
LABORATORIES
.
1961
^
1962
SMITH K L I N E & FRENCH
SMITH-DOUGLASS CO
S I N C L A I R O I L CO
S H E R W I N - W I L L I A M S CO ontrxvvm vv.LL.nmo υυ.
1963
1962
1963
D SEARLE & CO ^L""LI- « w-
SHELL O I L CO
G
SCOTT PAPER CO
SCHERING CORP
ST REGIS PAPER CO
WILLIAM Η RORER I N C n. r\ur\cr\, mu.
ROHM & & HAAS CO KUniYI " MMb UU -
$204,526 $106,915 $22,965 190,824 105,474 19,821 3.4 179,647 106,929 3.3 159,290 98,364
"Ϊ963 2 2
g
Ï7s
1Q
$75,956 $28,192 $3,743 3.2 73,743 27,930 3.3 72,208 27,653 3.9 68,311 23,882
$92,596 $10,517 4,316 87,551 7,076 82,917 6,606 84,229
Plus 2% stock dividend.
Ϊ963· 4.9 4.9
4~9
$999,411 2.5 2.9 3.1
^ 49,364 47,021
$5,125 ^ ^ 6,696 5,728
$291,839 ^ 276,051 282,279 g g
$15,023 ^ ^ 14,613 16,006
>836 '
2 4
$150,416
116,930 2.3 1960 106,059
132
1963
$32,018 29,644 27,192 25,791
$23,243 22,716 21,231 16,641
$3,918 2,065 3,283 3,126
$64,985 56,321 55,800 53,537
95
> 473
2?4
> 925
35,411 78,403
36
$107,484
> 016
3,992 34,156
5
$39,107
^165
30
> 528
$202,284 161,162 27,073 7,490 147,987
180
$5,981
Includes benefit from tax loss carry-over of $0.82 per share in 1960.
84,692 2.3
b
$57,570 2JÎ 50,411 3.6 48,100 2.3 45,339 2.3
» Fiscal year ends July 31.
1963^ 1962» 1961» 1960»
$L30 2.60 2.32 2.39
16.8 24,391
32
L35
1.85 31.1
'
2 3
3J3% 1.50 1.50 1.40 2Λ% 0.80 0.75 0.73
ΖΛ% 1.10 1.10 1.10
1.25 1.67
28.3
2.0 1.25
$L50
$1.20 1.20 1.20 1.20
4J% 2.00 2.00 2.50
3.00 2.875
$3^0
721/2-451/8
16.8% 31.6% $2.32 32.0 16.5
'° 2'08
$33,957 16 9
'
$3,535 5.4% 11.0%~$3.26 2,562 4.5 8.6 2.36 2,736 4.9 10.1 2.60 & 3,536 6.6 13.7 3.48 &
$2700 3.16 2.37 3.42
ÏÂ% 8.9% $5.68 ngyfe.7314 17.7 5.3 9.2 5.51 5.7 10.5 6.04
$975,554 $149,153 $1,211,459» $62,704* 5?2% 6.3% $4.20& 954,642 961,285 164,358 1,184,611» 47,350 4.0 5.0 943,116 924,665 143,935 1,207,267» 35,887 3.0 3.8 940,170 902,302 121,223 1,222,384» 52,547 4.3 5.6
158,669 152,545
w
$51,593
» Includes other operating revenue. b Excludes special items, net, of $12.5 million ($0.84 per share).
$1,618,853 ÏÂ 1962 1,515,303 1961 1,507,212 1960 1,486,567
» Fiscal year ends Aug. 31.
1961» 1960»
$201,210 ^ mm 187,231 181,046
$168,883
$1,503,179 $1,301,733 $252,070 $2,128,637» $179,852 8.4% 12.0% $2.97 2.2 1,404,327 1,281,377 282,754 1,960,733» 157,675 8.0 11.2 2.2 1,477,048 1,207,023 269,914 1,881,288» 140,358 7.5 9.5 2.1 1,403,066 1,136,893 284,041 1,827,832» 144,588 7.9 10.3
» Includes other operating revenue.
1%2α mm
$145 -104 22.9 1383/4-73 21.2 0.5 167y2-125 0.4 195 -150
34.4 37.4
$38%-31 2.4 2.0 2.7
$47%-35% 3.3 2.6 2.3
25J 423/4-25 47%-28% 31%-23%
27.5 32.0 23.
16J5 7 60%-30 /8 18 70 -46% 24. 81Vfc-42% 26.5
153%-111 129 -90
$ 93^-74%
14.1 413/8-283/4 46%-36% 43 -30^
$69%-5914
$51^-23% 29%-20 363/4-23% 28%-20%
10.9 17.3 13.
24.0 18.1
Ï4L8
13. 17.9 15.
30.
27.
ΪΪ7Γ 10.5 1L6 7.1
77 -46% 33.3 2.4 64%-38Vfc
2^3%
3.2% 4.8 4.0 4.8
$50 -35Vè ÎÔT2 5.8 40%-28% 4.9 457/e-36% 5.6 55%-33
2.3 2.6
3^6%
$49%-34% 3.1 2.7 3.0
$71,296 3^5 $53,393 $13,736 $2,038 $71,417 $18,532 25.9% 34.7% $1.40 $0/72 L5% $63 -29% 33. 34 12,838 3,161 56,626 13,791 24.4 31.3 1.04 0.58 1.6 48 -25% 35.3 44f001 47,335 4.2 37,798 10,662 2,975 44,778 9,946 22.2 26.3 0.75 0.43 1.2 50%-21% 48. 40,632 4.9 33,468 8,527 1,068 36,907 7,457 20.2 22.3 0.56 0.40 2.0 23%-17 35
$2,138,803 2^2 1962 1,989,100 1961 2,076,235 1960 1,885,344
1961 1960
58>588
1963
$0.825 1.23 1.19 1.16
11.4% 13.8% $2.58 $ϊ~50 10,242 11.7 13.9 2.48 10,033 12.1 13.9 2.40 9,865 11.7 14.4 2.36
$382,313 2Λ $302,846 $211,444 $21,648 $370,040 $36,256 9.8% 12.0% $1.35 365,986 2.2 282,244 210,684 19,119 354,450 32,696 9.2 11.6 349,337 2.1 260,206 211,694 25,693 333,148 31,141 9.3 12.0 338,782 1.9 204,393 204,155 37,175 313,276 28,360 9.1 13.9
3Λ) 94,700 91,541 84,111
h
» Includes equity in undistributed earnings of affiliated companies owned 50% or more.
1962» 1961» I960»
$98,737 1962 1961 1960
$1.25 & 1.0% 0.94' 0.9 4.25 0.75» 4.62 0.75-2
8.6 8.6
11.
4.5% $65%-465/8 58%-397/s 10.7 55%-44y2 1 1 . 7 4.8 47y2-35 10
3.2% $691Λ-571/8 655/8-50 12.6 57 -467/8 11.5 4.4 513/8-40
3.9 4.0 4.7
ϊδΓδ
10.8 201/2-9 10 -7%
L8%
1.35» 1.35'' 1.35»
$2.00 3.5 3.9 2.00
5,640 173,758 4,736 2.7 6.4 2.13 6,157 165,656 5,707 3.4 7.9 2.63 6,928 155,697 4,521 2.9 6.5 2.12
$185,137
$0)
19.914 0.00 0.0 0.00 0.0
00
6.9% 36.7% $1.52
1963 $3,544,525 2.0 $2,872,712 $2,396,810 $387,468 $2,202,512" $322,068 14.6% 11.2% $4.50 3,353,105 2.0 2,698,398 2,273,505 451,928 2,150,934" 313,781 14.6 11.6 4.60 2.00» 3,117,344 2.1 2,525,736 2,105,250 387,336 2,046,489" 294,405 14.4 11.7 4.52 2.00» 1960 2,782,283 2.3 2,259,690 1,864,009 288,005 1,663,403" 266,113 16.0 11.8 4.21
" Fiscal year ends Sept. 30. » Plus 2% stock dividend.
1962" 94,665 4.0 1961" 94,041 3.6 1960" 91,349 3.5
14
$30,507 24046
^ 19g64 170ya g6 449 131a 00Qfc 1961 21,323 1.9 2,093 11,480 ... 14,005 2,150" 15.4 102.7 1.72° e 1960 16,329 1.5 (57) 11,117 ... 11,687 1,253" 10.7 ... 1.00" " Includes the elimination of income taxes resulting from loss carry-forward benefits. » Paid 4% stock dividend. e Deficit.
1^63
Includes other operating revenue.
1962
α
3^9% $75 -58% 1 4.5 593Λ-44 4.9 52^-383/4 5.1 423/8-347/8
Price Earnings Range ($) Ratio
$2J50 2.35 2.25 2.00
Capital Net Income Dividends, Dividend Stock Price Plant and ExpendiNet Net % of % of Net $ per $ per Yield, % Worth Equipment tures Sales Income Sales Worth Share Share of Price
1963 $4,659,543 2~ï $3,156,558 $2,349,033 $322,902 $4,352,119° $271,852 oT2% 8.6% $5.44 1962 4,136,463 1.9 2,963,971 2,253,124 373,358 3,933,346242,339 6.2 8.2 4.98 1961 3,608,287 2.2 2,709,401 1,938,587 293,386 3,321,210» 211,319 6.4 7.8 4.35 1960 3,455,382 2.4 2,605,902 1,870,498 246,237 3,178,064" 182,610 5.7 7.0 3.76
Total Year
$2J5 3.91 e 5.0 2.25
$340,959 317,244 304,616 2.1
$250,032 244,720 243,121 291,748
$40,399 37,378 28,267 250,885
Plus 10% stock dividend.
$1,797 751 357 498
$77,309 68,333 59,191 56,821
" Includes equity in earnings of 50%-owned foreign company. » Plus 2% stock dividend.
1963^ $32,727 L4 $10,378 $5,858 1962 24,710 1.6 9,347 2,699 1961 20,199 1.8 7,665 2,384 1960 19,919 1.3 6,234 2,437
d
Includes value of treas
4?1% $765/8-58% 1 4.8 593/4-453/8 52 -403/4 13.2 5.1 50y2-38
$1,222 1,541 1,007 878
$2.11 10.8 10.1 11.9
$L2Ô 2.02 1.81 2.11
3U% 1.20 1.20" 1.20"
$385/8-315/8 3.3 2.3 2.2
16.6 477/8-253/4 603/4-45y2 655/8-45V4
1.6% 11.8% $1.01 $07l8 Γϊ% $193/4-133Λ 2.3 16.5 1.27 0.13» 0.9 1 1.7 13.1 0.89 0.07 0.6 15 1.5 14.1 0 . 7 8 0.10
10.8% 8.1 7.7 9.0
6\8% 9.9% $6.13» $2.575e L2% $70%-525/8 10.1 5.6 7.6 4.85» 2.50 4.6 593/4-48 11.1 6.1 8.4 5.11» 2.50 4.5 59^-51% 10.9 24,662» 6.2 8.5 4.94» 2.50 5.0 56 -44y2 10
$235,431 3Λ $184,017 $117,562 $17,131 $251,066 $19,923 7.9% 229,695 2.8 177,513 122,368 20,463 236,644 19,231 226,259 2.9 172,651 118,764 29,613 225,770 17,367 212,907 3.5 166,329 107,046 29,158 219,726 19,815
" Plus 2% stock dividend.
1962 1961 1960
e
$500,731" $33,887* 431,786" 24,222» 418,644" 25,541» 34,736 399,173"
" Includes other operating revenue. » Includes profit from sale of assets.
$468,506 ~ΐλ 431,674 2.4 421,542 2.3 1960 414,333
" Includes other oparating revenue. » Includes consumer and excise taxes. e Excludes nonrecurring gain of $75.3 million from sale of investment in Ethyl Corp. ury stock.
1963 $11,996,691 L8 $7,949,751 $7,109,864 $ 886,470 $10,265,638" $1,019,469 9.9% 12.8% $4.73 1962 11,435,579 1.9 7,557,616 6,875,709 1,061,614 9,537,342» 840,903e 8.8 11.1 3.88 e 10,494,417* 2 . 1 7,091,834* 6,267,018 794,999 9,148,151"·» 758,083 8.3 10.7 3.50 2.30 1960 10,090,437'* 2 . 1 6,829,181* 6,061,278 719,755 8,695,805"·» 688,573 7.9 10.1 3.18
" Includes other operating revenue. » Includes value of one share of Standard Oil Co. (N.J.) distributed for each 65 shares in 1960, 60 shares in 1961, 115 shares in 1962, and 115 shares in 1963. c Includes value of treasury stock, at cost.
STAUFFER CHEMICAL CO ^
STANDARD O I L CO 1963 1962 /numx (OHIO) 1961
STANDARD O I L CO ,M , x " (NJ.) 1961
STANDARD O I L CO 1962 /1Mnx (IND.) 1961
STANDARD O I L CO nrnAiir 1962 OF CALIF. 1961
Γ Λ Λ τ ι . η ί Μ ο ΛΛ r A U U R I N b CO.
A
ouuiiLini.muuLnw.
SOUTHERN NITROGEN CO
SOCONY M O B I L O I L CO
Money figures in thousands of dollars unless otherwise indicated
SEPT.
7, 196 4 C & E N
'
INC 1962
INC
^
^
Ϊ963
1963
i9044
$19,733 1021
$1,027
929
Includes profit from sale of assets. c Plus 6% stock dividend.
d
11.8 21.9
L4 1.4 1.3 80,392
$51,555 45,908 39,337 1.3
Έΐ 968,811 974,770 897,849
$980,840
41,857 35,019
$72,732 10,660 5,234
$14,234
$1,827,864 3l 1962 1,789,155 1961 1,734,316 1960 1,712,938
58,949° 58,935°
12,583 12,684
$62,249° $ 9,354
21.3 21.5
15.0%
Ue5
$231/2-151/4
15.4
10.6 11.0
1.26 1.27
1.00 1.00
2.1%
4.3 5.7
b
20.2 27^-18% 195/s-15y2
$233/4-133/4
$(Û)0 2.14 1.76 2.22
ÔTÔ 0.00 0.00 0.00"
Includes profit from sale of assets. c Plus 2% stock dividend.
$2.10 c 2.25 c c 2.00 3.96
2^9% $837/8-595/8 12^5 4.0 69y2-43y 11.1 2 3.6 c 683/4-42% 13.5 1.75 4.4 47 -33y8
Includes income
20L9 121%- 83 144 -116 148y2-106y2
$357/8-195/8 10.4 0.0 23y -1573/8 34 0.0 28 /43-18 /85 1 0.0 24 /8-16 /8
Includes income of $6.0 million ($0.20), after tax, from sale of Pyrofax assets.
$2.66 5.8 5.3 6.9
$1,119,636 $960,071 $169,494 $1,668,188 $160,172° 9.6% 14.3% $5.32 $3.60° 3^2% $122 -100% 3.0 1,067,815 958,516 144,986 1,630,681 159,825"c 9.8 15.0 5.31 b 3.60 3.5 2.8 1,018,106 986,327 167,499 1,563,358 142,298 9.1 14.0 4.733.60 2.8 2.7 982,679 970,754 219,770 1,548,168 157,980 10.2 16.1 5.25 3.60 2.8 b c
° Includes other operating revenue.
13. 14 13.
3?1% $74y2-59y2 . 15^6 1.85 3.5 617/8-45 1.55 b 3.1 595/s-4iy2 1.43 3.8 43y2-32y4
$59 -43y2 12J 2.1 53y8-43 1.9 59 -47y 2 2.0 55y2-423/4
4?2% $10y4- 83/4 Ϊ9Λ) 0.40 3.3 163/8- 8V 8 0.60 3.6 203/8-131 0.60 3.9 18%-12% 2^0% 1.00cd 1.00 c 1.00
$0.40
$2JÎÔ 3.78 3.48 3.17
$1.00& c 3.67 3.60 b& 3.78
7.2% $0.93
15.5% $4.29 14.7 14.8 14.1 14.4 13.1 14.3
$595,919 $706,169 $76,771 $665,048° $39,474 5^9% 6.6% 1.6 557,418 714,617 69,799 657,486° 32,576 5.0 1.6 529,551 719,180 101,480 623,104° 27,822 4.5 1.8 507,752 689,478 101,364 583,150° 35,063 6.0
° Includes other revenue. b Paid 5% stock dividend.
1962 1961 1960
3m_14
0.0
$36,442 $11,803 $271,439 $6,062 2.2% 11.8% $1.12 $0.00° (U) $297/8-18% 3 2L5 29,924 8,753 255,808 6,400 2.5 13.9 1.25 0.00* 0.0 44y8-18 /8 25.0 26,198 . . . 193,866 5,326 2.7 13.5 1.11 0.00 c 0.0 50 -37^ 3 39.3 c 7 28,728 21,243 . . . 171,540 3,563 2.1 12.4 0.76 0.00 0.0 61 /4-28 /8 59.6
118,200 115,610
$129,835
Plus 2% stock dividend.
° Paid 5% stock dividend. b Paid 4% stock dividend. c Paid 2% stock dividend.
$ 98,264 97,238 101,887 1960
b
3.6
° Gross revenue from sales.
133,875 125,403
$187,283
° Gross operating income.
1961° 1960°
00Qa 0 0
Plus 5% stock dividend.
$844,142" $61,216 fc L3% 8.4% $4.046 95,800 794,025° 53,195 &b 6.7 7.7 89,800 775,642" 49,787 δ 6.4 7.6 73,100 749,767° 49,273 6.6 8.0
$4,455,095 2^5 $3,509,660 $2,854,516 $576,389 $3,415,746° $545,668 16.0% 1962 4,165,829 2.6 3,251,624 2,551,699 453,133 3,272,136° 481,671 1961 3,902,072 2.5 2,976,739 2,384,029 420,572 3,042,338° 430,117 1960 3,646,773 2.4 2,736,715 2,220,251 433,074 2,980,309° 391,751
b
$730,593 $547,793 $64,600 2.3 692,697 549,210 2.4 654,559 513,644 2.5 617,819 493,118
° Includes other operating revenue.
1963
1 31
$0.00°
932 5.4 12.0 1.26 0.00° 0.0 4.5 14.7 1.32 0.00° 0.0 31 -
54 u 6
5.2% 10.3% $1.26
$115,616 $46,996 $7,482 $252,451 $26,362 10.4% 22.8% $1.10 $0764 2^2% $35 -23% 26^8 102,928 43,379 3,611 239,301 24,785 10.4 24.1 1.04 0.60 2.4 30%-183/8 23.6 2.5 92,185 43,711 4,422 229,199 23,464 10.2 25.5 0.98 0.60 2.2 33y8-223/8 2.3 82,470 42,773 5,269 218,526 22,214 10.2 26.9 0.93 0.60 3.1 237/8-147/8 2
1,078 17,282 884 20,561
$1,007 699g
5,160 5,009
99l3
$9,536
2/7 $17,715 $11,563 77. $61,636 $ 767 1.2% 4.3% $0.50 $0740 33,296 3.2 17,950 11,847 $1,533 65,433 651 1.0 3.6 0.41 36,867 2.0 18,302 12,662 1,800 64,995 1,134 1.7 6.2 0.76 35,693 2.3 17,842 12,253 2,324 60,363 1,338 2.2 7.5 0.91
2?2 844,686 809,473 765,744
$33,837
$888,052 1962 1961 1960
1962 1961 1960
$181,034 Ο 166,107 2.8 1961 157,556 1960 151,131
7,739 6,300
8831
$ 9 > 9 28
° Includes income of $4.4 million ($0.15), after tax, from sale of Visking plants. of $3.4 million ($0.11), after tax, from sale of office buildings.
^
*963
2.5 2.2
32
·
3 2
° Paid 5% stock dividend.
12,329 11,548
16731
1962
1961 1960
$ 17 > 888
1963
U N I O N O I L CO Î963 $853,342 2U $559,192 $538,479 $103,579 $502,136° $53,928* 10.7% 9.6% $5.73» " 1962 799,826 2.7 521,048 505,041 102,495 468,002° 46,697 & 10.0 9.0 5.11b Λ Γ , Λ Ι Ι Γ Ul " LALIl·. 1961 761,469 2.9 492,649 481,003 67,756 447,386° 36,936 8.3 7.5 4.14 1960 733,937 2.7 471,703 482,761 101,846 440,580° 34,478 7.8 7.3
U N I O N CARBIDE CORP
TIDEWATER O I L CO
THIOKOL CHEMICAL Ϊ963 , nDn 1962 kORP. 1961
TEXAS GULF SULPHUR CO
TEXACO
SUN O I L CO
SUN CHEMICAL CORP
STERLING DRUG
STEPAN CHEMICAL CO
84
C&EN
SEPT.
7, 1 9 6 4
1963 1962
1961
4.4 4.0
>
811
>
6,701 5,592
3
465
$7,399 3,342 . . . 2,936 . . .
···
$3,338 ·
5 6
L08a
°·
25
·
2 2
$27,320 23,458 21,757 15,556
$4,544 4,742 8,379 4,332
$122,841 107,107 102,252 95,627
" Includes other operating revenue.
98 909
14.7 10.9
24.
1.7
2^2% 2.0 1.7 1.05
$UX) 0.90 0.80 0.77 $L2(5 1.20 1.20 3.19
15y2-123/4 '
· 154,533 66,749 8,448 305,389 28,623 9.4 18.5 1.20 1961 135,153 2.4 92,333 47,456 8,328 204,672 17,413 8.5 18.9 1960 120,506 2.5 83,528 41,557 6,759 197,884 16,517 8.3 19.8 $274,725 4~4 $188,760 $170,747 $20,322 $289,878 $10,193 3^5% 5.4% $1.92 m J^ 3 · 8 185,560 171,837 20,095 276,605 9,771 3.5 5.3 1.83 268,392 3.6 182,384 170,941 20,241 251,643 8,330 3.3 4.6 1.55 I960" 267,081 3.7 180,545 169,169 33,055 250,282 11,017 4.4 6.1
170
~ Ι »
3
$167,913 $86,944 $11,638 $191,748 $25,771 13.4% 3.0 157,498 83,278 9,669 173,181 23,255 3.1 148,400 79,215 10,030 165,886 22,833 2.9 138,260 75,443 14,971 159,430 22,768
ÏTÔ 6
$3214-24% Ï7~6 41Vfe-19*fc 21.1 473/4-33y4 29.6 0.8 43V4-30V6
$61,969 $35,134 $2,407 $111,422" $4,391 3J3% 7.1% $1.51 $0780 2J% $42%-2ft4 23^5 57,799 36,437 8,221 81,136 e 2,655 3.3 4.6 0.90 0.75 1.6 7 6iy2-29y2 50.6 56,289 30,290 4,068 100,920" 4,633 4.6 8.2 1.58 0.625 1.2 69 /s-30% 31.8 2.5 49,425 28,857 2,184 72,517" 3,548 4.9 7.2 1.23 0.625 2.3 33%-21% 22.4
" Excludes nonrecurring charge of $94,000 ($0.15 per share).
7,965 1960 6,922
·
$9,087 4 4
2^8% 2.5 1.5 0.30
Ratio
$1> 860 · · · $20,043 $2,349 11.7% 16.9% $1.18 $0.70 2.6% $3114-231/8 23.0 11,954 1,170 $315 15,672 2,046 13.1 17.1 1.08 0.70 2.43 423/8-17y8 11,396 981 124 15,433 2,096 13.6 18.4 1.10 0.60 1.4 53 /4-29y4 37.7 10,440 990 . . . 14,919 2,093 14.0 20.0 1.10 0.60 2.0 36%-24 27.6
Gross revenues, including royalties and construction contracts, for all years.
$209,866 3^2 1962 194,001 1961 182,822 1960 171,108
α
$94,242 2Λ 80,100 3.0 73,066 3.2 1960 68,906
$010 0.75 0.60 1.50
Price Earnings of Price Range ($)
i!% 6.3% $2.90 $2^20 0% $497/β-401Λ 5 ΓδΤδ 2.6 7.4 3.50 2.20 4.6 60 /8-36 13.8 27,096 2.9 8.0 3.80 2.20 4.0 64y2-46% 32,843" 3.4 10.1 4.82° 2.20 4.2 64 -AW4
$7,356 703
$302,591 2.5 271,479 255,856
2.8 6,237 8,330
'
6 662
$10,102 ·
2 9
287,086
9 486
2^9 3.1 2.9 2.9
34
Not 1,165 1,094 3,913
31,236 22,931 2,640
$34,985 > 880
1,833 1,648
2
~~~ $1,240 2,808 2,551 1,010
λΛ~~ '
2.9 3,629 3.0 3,346
42,195 2.6
33
^47,694
$2,992 2.8 2.6 2.8 2,353
$17,027 2Λ $10,673 $8,216 Not $15,758 $1,332 2.7 10,354 7,598 avail- 14,314 1,211 8.5 11.7 2.7 10,231 7,194 able 13,011 1,062 8.2 2.8 9,640 6,779 12,658 1,064 8.4 11.0 711
$11 f859 ~~2.7 $7,886 ~~ 1962 11,684 2.6 11,051 2.7 7,612 1960 10,087 2.8 6,956 5,385 750
$31,557 30,217 30,186 1960 29,324
Net Income
Net % of Net % of Net Income Sales
$18,784 $11,924 $1,610 $32,368 $2,427 L5% 2.8 18,240 11,365 1.560 30,254 2,239 17,662 10,764 1,620 27,824 2,045 7.3 16,671 10,241 1,600 26,972 2,011
Ratio
Net
° Included in chemicals and allied products. b Except newspapers. Sources (this page only) : Securities and Exchange Commission; Federal Trade Commission; Department of Commerce
GLASS PRODUCTS 1961 8,834
ρ A Q Q DDnniiPTQ
STONE~CLAY A N D
PRIMARY METALS ï9^3 Mmoxn.ro 1962 INDUSTRIES 1961
^
·
2 4
1961 5,852 1960 5,375
»881
OUS PLASTICS PRODUCTS
1963 PAPER A N D MALLIED LULU nnnmm-ro PRODUCTS 1961
Current Assets
2~6
1961 1960 39,612
οτη ro
1963
3,848 3,554 3,239
1963 1962 15,902 1961 15,283 1960 14,306
RELATED INDUSTRIES
DCI A-rrn
1962 44
Total
$28,670 2Λ 1962 27,111 25,899 2.7 1960 25,284 2.8
Year
Ϊ963 $4,146 1962 1961 1960
PETROLEUM R E F I N I N G AND
DRI]GS a
BASIC CHEMICALS' 1
1963 CHEMICAL A N D MALLIED LLILU ηηηηϊ.Λτο PRODUCTS 1961
unless otherwise indicated
Money figures in thousands of dollars
COMPARATIVE FINANCIAL DATA BY INDUSTRY
2
EXPORTS AND IMPORTS
U.S. CHEMICAL EXPORTS IN 1964 REACH NEW HIGHS: Western Europe leads; Canadian trade is up; Latin American prospects are bright VIRGINIA KINNARD, Chemicals and Allied Products Division, Business and Defense Services Administration, D.C. U.S. chemical foreign trade reached the $2.5 billion mark for the first time in 1963. Exports of chemicals (SITC Section 5) at $1,942 billion, reached an all-time peak. The 4 . 1 % increase from 1962 closely paralleled the gain in 1962 over 1961. Imports of chemicals ($558 million) were 8.8% higher than in 1962. However, this percentage gain includes imports of uranium oxide. Beginning in September 1963, this item was transferred to SITC Section 5 from Section 2. Export gains were considerably larger in dollars than those of imports; but imports (including uranium oxide) rose faster, percentagewise. Monthly export totals in 1963 ran well ahead of those in 1962, except in January when a shipping strike cut exports to 50% of those in January 1962. Shipments in March and May 1963 reached peaks of $179 million each. The peak month for imports was October ($54 million) because of the addition of uranium oxide. Early in 1962, trade statistics were reported under the Standard International Trade Classification (SITC) system to aid GATT negotiators under the Trade Act of 1962. As a result, trade statistics for earlier years are not comparable on a group basis. Then in September 1963, Schedule A (imports) was replaced by the new Tariff Schedule of the U.S. Annotated (TSUSA); and therefore import data on some commodities are not comparable. Western Europe was the leading area for U.S. exports, followed by Canada, Asia, and Latin America. 86
C&EN
SEPT.
7,
1964
Shipments to Africa and Oceania were much smaller. Western Europe Western Europe, which took $656 million worth of U.S. exports, retained first place among regional groups even though U.S. exports to the E E C were up only slightly. The ranking of principal western European purchasers shifted in 1963. The U.K. took first place from the Netherlands. West Germany upped its purchases to become third, replacing Italy, where the economy slowed down perceptibly. France and Switzerland increased their imports of U.S. chemicals. The U.K. had one of the largest increases by country—from $97.8 million in 1962 to $115 million in 1963. Chemical materials and products, n.e.s. (SITC Group 599), and plastics materials (SITC Group 581) were leaders. Netherlands purchases decreased to $113.4 million in 1963 from $115.5 million in 1962. It was the
Washington,
largest European purchaser of organic chemicals ($45 million). Plastics materials were second with $26 million. West Germany took $89.7 million in 1963, compared with $84.9 million in 1962. Its purchases of organic chemicals and chemical materials and products, over $22 million each, were needed for a chemical industry which had record sales in 1963 and operated at high levels. The U.S. has a strong position there in semifinished chemicals. France ($66.4 million in 1962 and $64.8 million worth of U.S. exports over-all in 1963) again took large quantities of organic chemicals and plastics materials ($15 million and $11 million, respectively). Its purchases of $13 million in chemical materials and products reflect heavy demand for semiprocessed materials from a growing chemical industry. Belgium increased its purchases to $72 million compared with $66.4 million in 1962. Organic chemicals were by far the leading group. Pharmaceuticals and
U.S. IMPORTS OF SELECTED CHEMICALS—1962-63 1962
Ammonium nitrate, fertilizer grade (short tons) Ammonium sulfate (short tons) Potash fertilizer materials (short tons) Sodium nitrate (short tons) Sulfur ore and sulfur in any other form (long tons) Alcohol, ethyl, 190° C. and higher (thousands of gallons) Creosote oil (thousands of gallons) Cresylic acid, refined (thousands of gallons) Naphthalene, total, crude, less than 79° C. (thousands of pounds) Perchloroethylene (thousands of pounds) Trichloroethylene (thousands of pounds) Plastics materials (thousands of pounds) Source:
Bureau of the Census
1963
338,159 240,998 336,662 433,356 049,433 4,113 29,511 14,889
306,804 234,907 574,262 413,946 1,352,201 8,423 35,524 18,188
38,932 45,664 64,959 3,503
28,222 56,317 71,163 2,882
chemical materials and products com peted for second and third places. Canada Trade with Canada, long our larg est single customer, has begun to re gain its lost momentum. Exports to that country were up $12 million to $300.9 million in 1963 from $288.8 million in 1962; this trend should con tinue. Latin America U.S. exports to Colombia rose $7.7 million from $28.3 million in 1962 to $36.0 million in 1963. Colombia had the largest increase among Latin Amer ican countries. Devaluation, serious exchange problems, inflation in some countries, loss of investor interest, and the political climate have seriously affected our trade with Latin America. Exports to Brazil dropped 13% to $48.4 million from $55.8 in 1962. However, some improvement is dis cernible and the outlook in 1964 is more promising. U.S. exports of chemicals to Argentina were down $3 million to $20.1 million in 1963 from $23.1 million in 1962. Ex ports to Venezuela dropped $4.6 mil lion to $47.6 million from $52.2 mil lion in 1962, but the outlook there also has improved. Chile remains a difficult market with acute exchange problem and restrictions on imports. U.S. exports to Mexico dropped to $113.0 million from $117.7 million in 1962, partly caused by greater compe tition from western Europe.
Asia In the Far East, Japan is not only first but has now become our second largest chemical customer. Despite a slowing down of the economy carry ing over into 1963, U.S. chemical exports to Japan increased to $157.3 million from $129.6 million in 1962. As the Japanese industry grows, it will continue to buy more interme diates and semifinished products. De mand for chemicals from other in dustries is increasing sharply, par ticularly from consumer products manufacturers. Despite serious ex change difficulties which have held back more rapid industrialization, U.S. exports to India were almost level at $36.4 million in 1963 and $36 million in 1962. Chemical exports to the Philippines rose to $27.9 million from $24.4 in 1962. Exports to Pakistan rose $12.2 million in 1963 to $26 mil lion from $13.8 million in 1962. Chemical materials and products and drugs were the largest groups. Africa Exports to Africa rose to $55 mil lion from $48 million in 1962, South Africa accounting for $34.6 million, a $3.6 million increase from 1962. The climate is favorable for U.S. ex ports to Africa; and chemicals are be coming significant imports. Organics Exports of benzene reached a new high of $16.8 million in 1963. West
Germany, Italy, the U.K., and France were the leading buyers. Styrene ex ports continued the decrease begun in 1960, principally because of new for eign facilities. Glycerin exports more than doubled in value, partly be cause of the shutdown of some Euro pean synthetic capacity. Organic chemicals, except cyclic, n.e.c, rose to $120 million from $94 million. The Netherlands was the leading purchaser of organic chemicals, ex cept cyclic, n.e.c. ($13 million). France upped its purchases to $11.6 million from $7.5 million in 1962; and Switzerland almost doubled, $10.7 million from $5.4 million in 1962. Belgium took $9.1 million in 1963 and $4.7 million in 1962. Italy's and West Germany's purchases increased. Crude coal tar and crude cyclics ($6.6 million) were exported princi pally to Japan, followed by Italy with $5 million and the Netherlands with $4 million. Important buyers of color lakes and toners were Canada $2.6 million, Japan $541,848, Italy $378,329, and Australia $291,460. These four accounted for 64% of the $5.9 million total. Canada's purchases of coal tar and cyclic dyes and stains rose to $7 million in 1963 from $5.9 million in 1962. Switzerland took substan tially more and the U.K. increased its purchase slightly. Inorganic and Agricultural
Rising world consumption of sulfur has cut the oversupply, and export competition remains keen. U.S. ex ports—also from Canada, Mexico, and
U.S. Chemical Exports by Principal Countries of Destination-1963 a Te&l worldwide experts $1,843
U.S. Chemical Imports from United Kingdom | 3 a 0
Canada $158.9
ffeteiands $20.3 West Germany $63.7 France . $36.7 Switzerland $28.7
'•T&Sr^j£3&Btf&*'
Argentina $20.0 (Millions of Dollars)
Chemicals
•Figures are based on only those items covered by Section 5 ο International Trade Classification Source: U.S. Dept. of Commerce
France—are high. Japan and Italy, hitherto closed markets, are being opened to sulfur imports, as is the Soviet bloc. The shortage of caustic soda (solid) abroad, particularly among other leading world suppliers such as the U.K., permitted the U.S. to increase shipments to Latin America. Brazil, Mexico, and Colombia were important customers. U.S. exports to Pakistan rose to $935,000 from $224,000 in 1962. India also took much more. Canada accounted for over 60% of our foreign markets for liquid caustic soda in 1963. Exports of herbicides and fungicides increased. Pesticides' largest decrease was in agricultural insecticides, n.e.c, a basket classification. India was the largest purchaser of ammonium sulfate in 1963, $7.6 million. Korea was a large customer in 1962, but establishment of a new fertilizer plant there and competition from Japan cut 1963 purchases. Vietnam and Pakistan were other leading purchasers in 1963. Chile and Korea were large buyers of U.S. superphosphate in 1963. Brazil, Canada, and the Netherlands took important quantities in both 1962 and 1963. Indonesia was a large buyer in 1962, not in 1963. Exports of potassium chloride were down in 1963. New production in Canada reduced shipments there and accounts for the largest single decrease. Japan took less in 1963, but still was top buyer both years. Exports of chemical specialty compounds, n.e.c, had a $12 million increase in 1963, Canada being by far the leading purchaser, taking $23 million. Japan took $11 million, U.K. $7 million, and Belgium and Venezuela $5 million each.
Pharmaceuticals Exports of antibiotics dosage form, n.e.c, were down slightly in 1963— Japan, Panama, Belgium, and Iran were the big purchasers. U.S. exports of dihydrostreptomycin, bulk, dropped sharply in 1963. Exports of streptomycin rose a little and those of sulfa drugs were approximately level. Exports of vitamin preparations (dosage forms ) and prednisolone to many countries decreased slightly in 1963. Mexico's purchases of U.S. pharmaceuticals dropped steeply to $10 million from $28 million in 1962. 88
C&EN
SEPT.
7,
1964
U.S. EXPORTS OF CHEMICALS AND ALLIED PRODUCTS
Section 5 (SITC), Chemicals, Total Group 512, Organic chemicals Styrene monomer Coal-tar and other cyclic intermediates, n.e.c. Ethylene glycol Glycerin Alcohols, including glycols, n.e.c. Organic chemicals, except cyclic, n.e.c. Group 513, Inorganic chemicals: elements, oxides, and halogen salts Organo-fluorine compounds, n.e.c. Boric acid and borates, crude and refined, and compounds, n.e.c. Sodium hydroxide, solid Sodium hydroxide, liquid Carbon black, contact and furnace Titanium oxide and other titanium pigments Group 514, Other inorganic chemicals, n.e.c. Aluminum compounds, n.e.c. Group 515, Radioactive and associated materials Group 521, Mineral tar and crude chemicals from coal, petroleum, and natural gas Benzene Toluene Crude coal tar and other crude cyclic products Group 531, Synthetic dyestuffs, natural indigo, and color lakes Group 532, Dyeing and tanning extracts and related materials Group 533, Pigments, paints, varnishes, and related materials Ready-mixed paints, stains, and enamels Group 541, Medicinal and pharmaceutical products Vitamin preparations in dosage forms, n.e.c. Prednisolone and preparations, all forms, n.e.c. Antibiotics, n.e.c, bulk Antibiotics, n.e.c, dosage Parenteral solutions, including ampoules, n.e.c. Medicinal chemicals, organic and inorganic, n.e.c, bulk Antibiotic and vitamin feed supplements Veterinary medicinals and preparations, n.e.c. Drugs and medicinal preparations in dosage form, n.e.c. Group 551, Essential oils, perfume, and flavor materials Odoriferous compounds for perfumery use, natural and synthetic, n.e.c. Flavors and flavoring extracts, natural Group 553, Perfumery, cosmetics, dentifrices, and the like (except soaps) Group 554, Soaps, cleaning and polishing preparations Detergents, all types Organic surface-active agents, n.e.c
1962
1963
Value (Thousands of Dollars)
Value (Thousands of Dollars)
Quantity (Thousands of Pounds)
n.a. n.a. 122,936
$1,865,469 252,492 13,206
n.a. n.a. 120,227
$1,942,525 298,762 12,449
294,501 71,675 13,393 167,227
41,290 7,023 2,398 29,746
437,208 98,656 30,741 184,305
49,678 9,837 5,036 27,909
621,323
93,577
826,314
119,722
n.a. n.a.
113,497
n.a.
118,902
Quantity (Thousands of Pounds)
15,365
5,855
15,167
6,126
584,529 221,701 180,211
24,736 5,964 4,355
677,824 362,104 278,192
27,519 9,961 6,733
442,437
41,801
370,928
35,447
58,189
8,636
53,404
8,051
n.a. n.a. 175,342
49,366 10,936
n.a. 456,152
60,941 20,635
n.a. n.a.
1,899
n.a.
2,554
n.a. n.a. 41,259&s 41,259 400,455
67,437 12,028 11,529
n.a. 64,735* 436,042
65,438 16,759 11,523
626,841
31,186
620,866
23,685
n.a.
26,557
n.a.
29,563
n.a.
2,801
n.a.
2,601
47,447
n.a.
46,685
16,602
4,382*
17,002
n.a. &
4,294 n.a.
274,459
n.a.
269,257
n.a.
14,214
n.a.
12,395
n.a. 135,568e 48,443e
14,841 27,938 21,563
n.a. 161,900e 50,787e
13,943 23,486 23,308
n.a.
10,205
n.a.
10,532
n.a.
28,576
n.a.
28,786
16,025
11,336
20,940
13,447
n.a.
11,248
n.a.
16,375
n.a.
20,333
n.a.
21,921
n.a.
52,038
2,679
7,982
2,823
9,192
9,649
14,282
9,561
14,965
n.a.
18,351
n.a.
18,310
n.a. 70,471
59,605 14,968
n.a. 58,300
56,377 13,630
43,126
10,951
38,712
9,581
1962 Quantity (Thou sands of Pounds)
Group 561, Fertilizers, manufac tured n.a. Ammonium sulfate fertilizers 1,077,028 Enriched and concentrated superphosphate fertilizers 495* Potassium chloride, fertilizer ma terial 804* Group 571, Explosives and pyro technic products n.a. Group 581, Plastics materials, re generated cellulose, and the like n.a. Styrene polymer and copolymer resins 125,145 Alkyd resins 28,883 Vinyl and vinyl copolymer resins, uncompounded 45,275 Vinyl and vinyl copolymer resins, compounded 34,673 Polyethylene resins 375,187 Acrylic and methyl methacrylate resins 27,980 Resins, synthetic, n.e.c. 80,127 Synthetic resin film and sheet ing, except polyethylene 31,807 Cellulose ester plastics, except molding, extrusion, com pounds, and scrap 12,115 Regenerated cellulose, except rayon 36,756 Group 599, Chemical materials and products, n.e.s. n.a. Gasoline blending agents 2,702e Antioxidants, rubber com pounding agents 17,136 DDT formulations (75% or more) 99,096 Herbicides, n.e.c. 12,264 Insecticides, technical (15% or more organic phosphates) 15,252 Insecticides, technical (15% or more polychlor) 43,322 Agricultural insecticides, n.e.c. 72,441 Fungicides 26,427 Textile specialty compounds 32,451 Antiknock compounds 86,525 Additives for lubricating and fuel oils n.a. Chemical specialty compounds, n.e.c. n.a. Selected allied products Synthetic rubber 680,285 Fertilizers, crude n.a. Florida phosphate rock 4,117* Sulfur, crude and refined 3,194/ Mineral waxes 400,429
1963 Value (Thou sands of Dollars)
Quantity (Thou sands of Pounds)
103,662 16,580
n.a. 980,699
Value (Thou sands of DoHars)
97,908 16,196
25,338
587*
27,561
26,421
664*
20,421
13,912
n.a.
14,489
301,476
n.a.
309,340
30,057 9,829
164,116 27,615
37,734 10,021
15,510
49,242
17,006
11,436 70,152
37,637 336,548
10,981 61,049
9,130 36,669
30,964 93,361
11,007 42,275
30,876
31,769
32,298
15,819
12,040
16,159
15,314
31,313
13,882
484,441 16,495
n.a. 3,085e
499,361 19,523
11,160 21,793 7,631
17,186 87,306 13,943
11,455 18,000 10,869
10,367
17,965
11,692
21,735 28,090 15,197 11,201 26,878
35,283 63,902 34,782 34,331 86,027
19,596 19,562 17,108 11,848 26,512
56,686
n.a.
58,087
80,732
n.a.
93,072
169,479 41,867 31,788 37,295 28,484
634,385 n.a. 4,517* 2,523/ 407,310
155,518 44,208 35,155 34,588 29,094
n.a.: Not available d Thousands of short tons. Standard International Trade Classification. « Thousands of barrels f» Thousands of gallons. / Thousands of long tons. c Thousands of grams. Source: Bureau of the Census
α
Plastics
Materials
Exports of plastics materials had a 2.6% increase in 1963. Polyethylene, the largest item by value, dropped to $61 million from $70 million in 1962. Styrene polymer resins and synthetic resins, n.e.c., had the largest increases. Imports Imports of chemicals (SITC Sec tion 5) were up $46 million in 1963, to a total of $558 million, with or ganic chemicals being largest, $94.7 million. Manufactured fertilizers were second with $78 million, but were
$10 million less than in 1962. In organic chemicals were third, $70.4 million. Medicinal and pharmaceu tical products and radioactive and associated materials followed, $47.9 million and $45 million. Other large groups were inorganic chemicals (other), $54 million; mineral tar and crude chemicals, $35 million; and es sential oils, perfume, and flavor ma terials, $34.7 million. Mineral tar and crude chemicals had a $12 mil lion drop. Other inorganic chemicals (SITC Group 514) were $9 million less. Pharmaceuticals had a $6 mil lion drop. Imports of naphthalene
have declined since 1961, but price reductions in Europe may make them competitive again, especially on the East Coast. Cresote oil and cresylic acid had increases as did perchloroethylene and trichloroethylene. Im ports of potash fertilizer materials were up sharply. Outlook Western Europe will remain out standing in U.S. foreign trade despite a relatively small gain in 1963. Favor able developments in EFTA countries and expanding economies of such countries as Greece, Spain, and Yugo slavia will further boost trade with western Europe. Japan has long de sired to increase trade with Europe and its newly acquired OECD mem bership is a step toward a closer rela tionship with that area. No large in crease in Japanese chemical trade with that trading bloc appears likely. The first six months of 1964 show favorable trends. Exports are in creasing, spurred by world-wide indus trial development and new consumer demands in a growing economy. Sales of U.S. foreign subsidiaries are ex pected to rise 15% in 1964. The U.S. faces even stiffer competi tion, but its products have an excellent reputation abroad and embody the latest technology, and its chemical in dustry is efficient and diversified. The effects of the Government's export ex pansion programs are becoming in creasingly visible. Many companies are entering for eign trade. Exporting is becoming an important activity of these firms as their operations expand. Chemical materials for further proc essing will continue to be very impor tant in U.S. exports. The immediate outlook is favorable for basic organic chemicals. New and special types of plastics materials will hold their own, as well as some older types, despite keener competition. The variety of industrial and consumer applications for chemicals is increasing, to be fol lowed by a broader flow of trade, both by product and area. Exports of chemicals in the first six months of 1964, $1.089 billion, ran 16% ahead of those in the 1963 period. February was the only month lower than the corresponding month in 1963. On the import side, the total for the first half of 1964 was $356 million compared with $385 million in the same period in 1963. SEPT.
7, 196 4 C & E N
89
3
MEDICINAL CHEMICALS
DRUG INDUSTRY HAS RECORD SALES AND PROFITS YEARS BACK TO BACK 1965 prospects seem to lay the dire forecasts made by industry officials in 1962-63 firmly to rest
ARTHUR POULOS, Manager, Midcontinent
Pfizer's president. John McKeen, is "buoyantly optimistic" about the out look for his company's drug sales and profits this year. He's not alone in the drug industry. Bright forecasts can also be heard at Eli Lilly, Abbott Labs, Parke-Davis, A. H. Robins, and Merck, to name a few. Compared with the grim forecasts the drug in dustry captains were voicing only a year or two ago, such optimism borders on ebullience. There's good reason for this en thusiasm. Drug industry sales and profits will be at record levels in 1964. Total world-wide U.S. drug industry 90
C&EN
SEPT. 7, 1964
and Western
News Bureaus, CHEMICAL AND ENGINEERING NEWS, Chicago, III.
sales of all products should reach δ5.2 billion, up 69$- from 1963; net income up 8% to $530 million. All signs point to more record break ing for 1965. Total drug industry sales next year should increase by al most 6%. Net profits should increase by nearly 8%. Apparently, the 1962 Kef au ver-Η arris amendments to the Federal Food, Drug, and Cosmetic Act aren't as oppressive as feared, at least for the short term. About 50% of U.S. drug industry sales are in ethical products sold in finished dosage form for human use. (Ethical products are those promoted
only to physicians and generally avail able only by prescription.) Another 25 to 30 c/c can be traced to veterinary products, bulk shipments, exports of ethical products, and sales of ethical products abroad. In the five-year period ended De cember 1962, U.S. sales of dosage form ethical drugs for human use increased 28%. Sales of all products by drug firms moved up 32% in the same period. Playing an increasingly important part in drug sales are proprietary products. (Proprietary products are promoted directly to consumers and
Americans Are Buying More Prescriptions
Spending for Drugs, Sundries is at Record High
Proscriptions in Retail Drug Stores Per Capita
(Billions of Dollars) 5
5
4
4
3
3
2
2
1
1
0 '47
'51
Ο '55
'56
'57
'58
'59
'60
'61
'62
'63 (est)
•47
'55
'51
'56
'57
'58
'59
'60
'61
'62
'63 '64 (est)
Sources: Office of Business Economics; PMA; C&EN estimates
Sources: Topics Publishing Co.? C&EN estimates
Drugs Loom Larger in U.S. Economy
Spending for Health Is a Growing Part of U.S. Economy
Total Drug Industry Sales as Per Cent of 6NP
Total Spending for Health and Medical Care as Per Cent of 6NP
1.0
7.5
0.8
6.0
0.6
4.5
0.4
3.0
0.2
1.5
0 '47
'51
0 '56
'57
'58
'59
'60
'61
'62
'63 »64 (est)
'40
'45
'50
'58
'55
'59
'60
Source: C&EN estimates
Sources: HEW; C&EN estimates
Americans Are Spending More for Medical Care
Ethical and Total Drug Sales Set Records
Spending for Medical Care as Per Cent of Total Personal Consumption Expenditures
(Millions of Dollars)
7.5
7500
6.0
6000
4.5
4500
3.0
3000
1.5
1500
'61
4 ' 6 :i 'G4(8S 0
'62
Total Sales Ethical Sales
mmau
II «·
0
'47
'51
'55
'56
'57
'58
'59
'60
'61
'62
'63 (est)
Sources: Office of Business Economics; PMA; C&EN estimates
are sold without a prescription.) Proprietaries now account for about 20% of drug industry sales. Chances are pretty good that proprietaries, while less profitable than ethicals, will get more emphasis in the drug indus try because proprietaries offer rela tively greater sales stability than the ethicals. There is an industry trend toward diversification into nondrug lines such as chemicals and packaging. These moves have only a small impact on sales and earnings now; but look for them to become a bigger factor. The drug industry's performance
• 1 •47
»
'51
1l l l l l l l
'56 '57
'58
'59 '60
'61 '62
'63 '64
'65 (est)
Sources: FTC-SEC; PMA; C&EN Estimates
gains considerable luster when com pared with that of the total economy. Since 1957, drug industry sales have averaged gains of 7.7% per year. Sales of all manufacturing industries have had an average growth rate of 4 . 1 % . Over the same interval, drug industry profits before taxes increased by 6.5% per year while pretax profits of all manufacturing industries in creased by 3.4% per year. More People—More
1 '55
WE
Drugs
Fueling this surge by the drug in dustry are people—about 192 million of
them in the U.S. Between 1962 and 1963 the population of the U.S. rose about 1.5%. Should the same rate of growth persist through 1965, the U.S. will have some three million more potential drug customers than it does this year. The age profile of the U.S. is chang ing, too, again to the advantage of the drug industry. For example, the De partment of Commerce says the birth rate should rise over the next decade or two, despite what was probably only a temporary setback in 196364. Babies are being born at the rate of 23.4 per thousand people in SEPT.
7, 1964
C&EN
91
the population. The Department of Commerce foresees the rate reaching 24.7 per thousand by 1970. By contrast, the 1940 birth rate was 17.9 per thousand. Thus infants—children under five years of age—make up 1 1 % of the total population of the U.S. today compared with 8% in 1940. The importance of this large infant population to the drug industry is that on the average, each infant visits the doctor 6.2 times a year. For the total population, each individual averages only five visits per year. Americans aren't dying as young as they used to, either. This means that the number of older people in the U.S. is increasing. People over 65 years of age make up 9.3% of the U.S. population today, compared with 6.8% in 1940. The significance for the drug industry of a large population of older people is that chronic illness usually increases with age. According to the Department of Health, Education, and Welfare, more than 50% of the over65 population suffers from chronic disease compared with only about 25% of the 15 to 45 age group. Size of the over-65 population plus the high incidence of chronic disease adds visits to the doctor—6.8 times per individual per year for the over-65 group, compared with five times per individual per year for the total population. More Money—More
Drugs
Americans today are more affluent than ever before. Disposable personal income has nearly doubled since 1947 and now amounts to nearly $2240 per year per person ( current dollar basis ). Such income is growing at a rate of about 5% per year. Apparently, greater affluence breeds greater interest in personal health. Total personal spending for medical care approached $25 billion (current dollar basis) in 1963, nearly double the figure for 1955 and almost four times the figures for 1947. Another indicator of growing concern for health is the bull market for health insurance. More than 77% of all Americans now have some form of hospital insurance. In 1950 only 5 1 % were covered. Some 70% now have surgical insurance compared with 36% in 1950. And nearly 55% have medical insurance, compared with only 14% in 1950. Health insurance premiums totaled about $5 billion in 92
C&EN
SEPT.
7,
1964
1960. By 1970 premium payments should reach $10 billion. Higher income seems to result in more frequent visits to the doctor. A person with an annual income under $4000 visits a doctor on the average of 4.6 times a year. But a person with an annual income exceeding $7000 visits his physician 5.7 times a year on the average. All these factors—large populations in both the very young and very old age groups, increasing numbers of people with higher incomes, more health insurance than ever before—add up to more drug sales. The corner drugstore gives some evidence of this. Prescriptions filled in retail drugstores nearly doubled between 1950 and 1963. On a per capita basis, prescriptions filled in retail drugstores doubled since 1945, reaching 4.3 per person in 1963. New Products Mean Higher Sales New products, to.o, usually stimulate drug sales, particularly if the new products are major improvements over
HERE'S HOW ARTHUR 0. LITTLE, INC., SEES 1963 DRUG SALES Therapeutic Category
U.S. Salesa (Millions of Dollars)
Analgesics Antacids Antibiotics Antibacterials and antiseptics Antihistamines Antiobesity products Antispasmodics Biologicals Cardiovascular drugs Cough and cold preparations Dermatologicals Diabetic therapy Diuretics Hematinics Hormones and nonhormonal antiarthritics Laxatives Muscle relaxants Psychotherapeutics Sedatives Sulfonamides Vitamins and nutrients Others
$ 90 50 400
Total
2,420
31 33 65 53 80 110 80 26 72 65 36 195 32 27 200 65 50 200 460
Source: Arthur D. Little, Inc. a Ethical products in finished form at manufacturers selling price.
existing products. Even better are new products which are the first to be really effective against a disease or condition. Oral contraceptives are good examples of really effective new products. Such products were first marketed in the U.S. in 1960. Sales of oral contraceptives in 1965 could exceed $60 million. This is nearly all new business for the industry. No existing drugs have been displaced nor have sales been lost by any other significant ethical drugs. To keep the "breakthroughs" coming, the drug industry will spend a record $280 million for research and development in 1964. Chances are excellent that R&D spending for 1965 will surpass this figure, perhaps by 10% or more. Details on specific R&D programs in drug companies are hard to come by. But it's no secret that big chunks of R&D money and effort are aimed at finding new medicinals: ' antibiotics, drugs for treating disorders of the central nervous system ( C N S ) , digestive system, cardiovascular system, and genito-urinary system. Today, manufacturers' sales of drugs in these therapeutic groups comprise nearly two thirds of sales of all ethical drugs for human use. And nearly 50% of the drugs currently in the clinical testing stage are the result of R&D in these product areas. Much R&D effort is also aimed at developing new steroid and hormone products and new drugs for treating respiratory system ailments. About 15% of the new drugs now in clinical testing are steroid or hormone products, the biggest single group of products now in clinical testing. Drugs (both ethical and proprietary) for human use can be classified into nine major therapeutic groups: drugs which affect the central nervous system; cardiovascular system; respiratory system; digestive system; genitourinary system; skin; as well as antiinfectives; vitamins and nutrients; and hormones and synthetic substitutes. The Department of Commerce's Bureau of the Census now uses these categories for its new annual survey of medicinals. The latest available survey covers manufacturers' shipments for 1962. Several consulting firms also provide information on sales and market penetration of drugs. Among such firms which have 1963 figures available is Arthur D. Little, Inc., which uses
There's a Bull Market in Health Insurance
Hospital insurance Surgical Insurance
Per Cent of U.S. Population Covered by
Medical Insurance
80
60
m
40
i 4
20
1940
1945
1950
1955
1957
1958
1959
1990
1981
1962
1963
1964
(est)
Source: Health insurance institute
data developed from samplings of prescriptions developed at the retail drugstore level. The prescription-oriented sampling technique is widely used by consulting firms surveying the drug industry. Direct comparison of Census Bureau figures with those from prescription surveys is difficult. The government figures reflect all manufacturers' shipments, including inventories at wholesale and retail levels and goods in transit. So Census figures may be higher than survey figures developed by the private consulting firms. Semantic problems crop up, too, especially with attempts to classify multipurpose drugs. CNS Drugs Lead Top score in the Census Bureau's drug survey goes to central nervous system drugs. Manufacturers' sales in 1962 of CNS drugs for human use totaled $683 million. About two thirds of this total came from sales of ethical products. In 1962 the biggest sellers among ethical CNS drugs were psychotherapeutic agents—tranquilizers, antidepressants, and the like. Manufactur-
ers' sales of psychotherapeutics in 1962 were $187 million, with phenothiazinebased tranquilizers accounting for $77 million. ADL says sales of psychotherapeutics in 1963 hit $200 million. Manufacturers' sales of ethical analgesics and antipyretics, including narcotics, totaled $65 million in 1962, according to the Census Bureau. CNS stimulants, such as amphetamines and drugs for weight control, totaled $55 million in 1962. ADL says antiobesity drug sales were $65 million in 1963. Some $50 million worth of ethical and proprietary sedatives and hypnotics were sold in 1962, with about 50% being barbiturates. Proprietary salicylates, including aspirin, reached $62 million in 1962 while manufacturers' sales of aspirin combinations hit $103.5 million. As could be expected, nonnarcotic analgesics and antipyretics, such as aspirin products, accounted for the bulk of proprietary CNS drug sales. The outlook for CNS drug sales this year is good. New and better agents added about 9% to sales of psychotherapeutic drugs in 1963 over 1962; signs point to a 10% gain for 1964. Another 10% gain is likely for
1965. Many physicians say that the tensions of the times are one big reason for the sharply rising sales of tranquilizers. Also a big factor in boosting psychotherapeutic drug sales is the availability of new, selective, and more effective products that can be used in the treatment of hitherto hardto-treat mental disorders. Further growth is in the cards for ethical analgesics. There are signs that the push provided by dramatically new and effective products marketed in the late 1950's is reaching a plateau. But if any of several nonaddicting potent analgesics now being tested reach the market soon, then analgesics could show greater than average growth next year. Growth in other CNS drugs depends heavily on the introduction and success of new products. This dependence is especially true for cerebral stimulants and sympathomimetic agents. Some of these drugs border on the psychotherapeutic, a field marked by rapid obsolescence. New drugs in this field could have a quick, possibly even a profound effect on the market. CNS stimulants used for weight control are under severe pressure from SEPT.
7, 1964
C&EN
93
nondrug weight control products. And sales of sedatives seem to have leveled off, with growth almost following the population curve. Antibiotics
sales of anti-infectives in 1962, possibly $40 million came from mouth and throat preparations and general antiseptics. The next biggest proprietary item broken out by the Census Bureau is antifungal agents, with sales of $4.6 million in 1962. Cloudy is the best one-word description of the outlook for antibiotics sales in 1964; three factors are working against any gains this year. First, the winter of 1963-64 was a mild one and the incidence of colds and respiratory infections sagged. Second, prices of tetracyclines were cut by about 20r/c in late spring this year. Finally, in the past year some 50,000 fewer babies were born than predicted—a big factor since about 50c/c of all cases of acute upper respiratory infections show up in members of the age group 0 to 14 years. These minus factors add up to fewer sales dollars for antibiotics, and may cancel out any plus factors in 1964. The price cuts and a small crop of babies in 1964 will also hinder antibiotic sales totals for 1965. Further price attrition may also come next year as foreign makers try to take early advantage of expiring patents on tetracyclines. But a hard winter with its concomitant rise in respiratory infections would boost the 1965 sales curve considerably. Likely to move the sales curve in the same direction are several new antibiotics due to be marketed soon. (Currently, at least
Strong
Anti-infective agents, including antibiotics, sulfonamides, and antiparasite drugs, hold a strong runner-up spot to CNS drugs in manufacturers' sales volume. The Census Bureau says 1962 sales of anti-infectives for human use hit $437.8 million, of which 80% was ethical sales. Antibiotics accounted for $336.5 million of the total sales of anti-infectives in 1962. Broad-spectrum antibiotics dominated the anti-infective sales picture with sales reaching $227.9 million. Sales of various types of penicillin totaled $61.6 million. Streptomycin and combinations of streptomycin with other antibiotics added another $25.6 million to the 1962 total. Sales of topical antibiotics that year were $38.8 million. ADL's survey indicates that sales of antibiotics in 1963 approached $400 million. Census Bureau figures reveal that manufacturers' sales of sulfa drugs in 1962 were $38.8 million. ADL says sulfa drugs sales in 1963 were close to $50 million. Sulfa drugs are sold almost entirely through ethical channels. Of the $52 million in proprietary
Americans Are Becoming Affluent
Disposable income per capita (current dollars)
Ulcers Mean Dolfors Manufacturer s ' sales of drugs for human digestive and genito-urinary systems totaled $394 million in 1962. Of this total, $270.8 million came from products for the digestive system. Sales of proprietary products for the digestive system were more than $83 million. Sales of proprietary drugs for the genito-urinary system amounted to less than $7 million. Antacids are the biggest single product group in digestive system aids. Census Bureau figures indicate manufacturers' sales in 1962 were $93.4 million with a bit more than half coming from proprietary products. Almost 56% of the $63.3 million in sales of laxatives in 1962 also came from proprietaries. But sales of antispasmodics and anticholinergics ($50 million), antinauseants ($17.5), enzymes ($12.2 million), cholesterol reducers ($5.2 million), and antidiarrheals ($24 million) came almost entirely from ethical products. Diuretics, with sales of $56.7 million in 1962, dominated the sales picture of genito-urinary preparations, according to Census Bureau data.
High Income People Visit Their Doctors Often
Infants and Old People Visit Doctors Often
Number of visits to doctor per year
Average number of visits to the doctor per year
2400
6.0
8
1800
4.5
6
1200
3.0
4
600
1.5
2
0 1947 1950
0 '55
'57
*58
'59
'60
*61
'62
Sources: Office of Business Economics: C&EN estimai is
94
50 new antibiotics are in an advanced stage of evaluation.) For maximum impact on the growth of 1965 sales, the new products will have to be priced high, a step the industry may be reluctant to take these days.
C&EN
SEPT.
7,
1964
'63
'64 (est.)
0 Under $2000
$2000· $4000- $7000 $3999 $6999 & over
Source: Public Health Service
Total pop.
0-4
5-14
15-24 25-44 45-64
Source: Public Health Service
65over
ADL's survey indicates that 1963 sales of diuretics hit $65 million. In 1962, sales of contraceptive agents (excluding oral contraceptives) amounted to $10.5 million, vaginal cleansers, $8.2 million. The future for digestive system and genito-urinary system drugs is reasonably bright. Gains for antacids, antispasmodics, and anticholinergics should average at least 3 % per year— another sales increase which can be attributed to the large crop of stomach upsets and ulcers bred by today's tensions. Sales of antacids will also increase along with growing use of steroids because antacids are usually administered with steroids to reduce steroid-caused gastrointestinal upset. The current travel boom augurs well for antinauseants and antidiarrheals. Airline statistics show that growing numbers of Americans are taking longer vacations and traveling farther. So the sales growth of motion sickness preventives should have no trouble outpacing the population growth curve. And with more Americans going abroad and exposing themselves to unaccustomed cuisine, much the same growth picture prevails for antidiarrheals. The rate of sales increase of laxatives, too, will probably outpace the population growth rate. One factor bolstering this group of products is the large number of pregnancies and the need of pregnant women for laxative help. More support comes from the current weight reducing fad and the low total food and thus the lowroughage diets it implies. Several new cholesterol-reducing agents are being evaluated by drug firms. Should a really successful one be marketed, growth for this product category could be dramatic. Diuretics should grow at a 10% per year clip for the next few years. The driving force in this growth picture is a succession of ever more effective and ever safer new products. The steady rise in the size of the over-65 age group also contributes, as does growing use of steroids, which sometimes cause edema. But the prognosis for contraceptives other than oral contraceptive agents is negative. Growing acceptance of oral contraceptive drugs coupled with lowering price tags for such drugs are due to put a big damper on the growth of other contraceptive agents.
Antiinfectives and CNS Drugs Are Top Prescription Items in Drugstores Respiratory System Drugs
Antiinfectives
CNS Drugs
Per cent of prescriptions
Per cent of prescriptions
Per cent of prescriptions 30
30
15
20
20
10
1959
1960
1961
1959
1962
Digestive and Genito-Urinary Systems Drugs
1960
1961
1959
1962
1961
1962
Vitamins and Nutrients
Hormones
Per cent of prescriptions
Per cent of prescriptions 9
Per cent of prescriptions
1960
10
1959
1960
1961
1959
1962
Cardiovascular System Drugs
1960
1961
1959
1962
1961
1962
Miscellaneous Drugs
Skin Treatment Drugs
Per cent of prescriptions
Per cent of prescriptions 3
Per cent of prescriptions
1960
10
2
1
0 1959
1960
1961
1962
1959
1960
1961
1962
1959
1960
1961
1962
Sources: National Prescription Audit-Abbott Labs, R. A. Gosselin Co.; C&EN estimates
Colds Ring Cash Registers Drug companies in 1962 sold almost $285 million worth of products which act on the respiratory system. Proprietary sales pretty much equaled ethical sales, according to the Census Bureau. Nasal decongestants with 1962 sales of $29.2 million, antihistamines with $25.5 million, bronchial dialators with $23.6 million, and narcotic-containing cough preparations with $20.5 million constituted the bulk of manufacturers' sales of ethical products for the respiratory system. ADL says that sales of ethical cough and cold products in 1963 were $80 million. There is no directly comparable 1962 value from the Census Bureau. Big items in proprietary lines were
oral cough and cold products, with sales close to $94 million in 1962. The Census Bureau figure for proprietary nasal decongestant sales in 1962 is $11.2 million. Outlook for respiratory system products is fairly clear cut. The growth curve should follow that for population. Occasional spurts will mark the occurrence of an unusually severe winter or a heavily promoted new product. The long-term outlook for existing respiratory system products is shaky. Drug companies are pushing efforts to find cures for the common cold; it may be only a matter of time before a cure will be found. For the successful products here, sales could well be sensational. SEPT.
7, 1 9 6 4 C & E N
95
Contraceptives
Spur Steroid Sales
Manufacturers' sales of hormones and synthetic substitutes for human use in 1962 were valued at $245.8 million. Ethical drugs in this group of products were the star performers in the show. Systemic and topical corticosteroids, in 1962, chalked up sales of nearly $108 million, according to the Census Bureau. Insulin sales probably reached $25 million; sales of oral antidiabetes agents probably a shade more. ADL puts 1963 sales of all antidiabetes agents at $72 million. Sales of androgens, estrogens, and sex hormone combinations (except oral contraceptives) were $26.6 million in 1962. Manufacturers' sales of oral contraceptives and progestational agents exceeded $20 million in 1962, only two years after oral contraceptives became commercially available in the U.S. Sales of anabolic agents totaled $6.3 million in 1962, anticancer agents just under $5 million. Over-all, the rate of sales growth of individual hormone products has faltered as the market has become crowded with new hormone products. New corticosteroids, for example, tend to do little more than steal sales from similar existing products since all are used to treat almost the same conditions. Also, the onslaught of new steroid products has tended to depress prices, so dollar gains from new products are small. But there are outstanding excep-
tions to this picture. Obviously growing fast are sales of oral contraceptives. Manufacturers' sales of these products in 1964 should approach $40 million, about double sales in 1962. Some producers foresee sales of oral contraceptives reaching $60 million in 1965. Acceptance of these drugs is growing (3 million women are now using these products), new products are coming onto the market, and prices of these newer products are generally lower than those commanded by the pioneering products. These three factors are important in pushing the sales curve skyward, since oral contraceptives are usually taken on a voluntary basis and aren't taken to treat serious disease. Sales of antidiabetes agents are growing fast, too. Normally, sales of these products would follow the population curve. Insulin sales, now about $26 million, probably do fit this situation. But better detection methods and the advent of effective oral products have pushed sales of antidiabetes agents into a steep climb. Manufacturers' sales of antidiabetes agents could approach $80 million this year. Heavy pressure from new products marketed or about to be marketed in 1964 may push this figure up by 10 to 15% in 1965. Also a candidate to outperform the population curve are sales of anabolic agents. The greatest use of these drugs has been for postoperative rehabilitation. But in geriatrics there is growing use of anabolics to slow the
aging process. If this use becomes widespread, sales could be strongly stimulated. Also due to bolster sales of anabolics is the imminent marketing of new, more effective products. Strong Uptrend for Heart Drugs Cardiovascular drugs ranked seventh in the Census Bureau's survey of 1962 drug sales. Sales totaled $129.2 million, almost all in ethical products. Hypotensives, with sales of $64 million in 1962, were easily the sales leaders among cardiovascular products. Fully 50% of hypotensive sales were accounted for by rauwolfiadiuretic combinations. Manufacturers' sales of vasodilators edged past $30 million in 1962. Sales of digitalis products were $8.3 million; anticoagulants, $8.2 million. While only seventh in sales total as a therapeutic group, cardiovascular drugs command a leading place in drug industry thinking and R&D effort today. Incidence of cardiovascular diseases, the number one killer in the U.S., is rising. One reason for the rise is that the heart-disease susceptible over-65 age group is growing faster than the rest of the population. Ironically, the drug industry is, in part, to blame for this. The steady flow of effective new drugs of all kinds has helped eliminate many causes of death and thus has helped many thousands to join the over-65 age group. Text continues on page 105
U.S. PRODUCTION OF MEDICINAL INAL CHEMICALS (Thousands ids of Pounds) Pounds) 1962 1961
Chemical
Antibiotics, including veterinary and feed supplements Acetylsalicylic acid (aspirin) Amino acids p-Aminobenzoic acid and derivatives Antihistamines Barbiturates Bile acids and salts Choline salts Piperazine and derivatives Purine derivatives 8-Quinolinol and derivatives Salicylic acid, salts (except aspirin) Sulfa drugs Sympathomimetic agents Tranquilizers Vitamins All others Total Source:
96
U.S. Tariff Commission
C&EN
SEPT.
7,
1964
1960
1959
1958
1957
1956
1955
1951
1947
12,220 444
6,322 27,194 5,007
5,130 22,668 5,946
4,168 23,553 5,163
3,646 18,097 4,879
3,515 20,819 4,247
3,243 18,054 4,225
2,746 16,603 3,604
2,092 15,092 1,773
1,522 13,481 1,526
863 375 828 238 20,431 4,712 2,011 325
__ 247 700 311 18,928 4,113 2,217
428 292 819 238 12,612 474 2,050 35
808 316 790 245 12,501 795 1,724 98
820 295 755 162 9,728 1,485 1,823 40
909 285 756 161 5,215 1,176 1,975 43
974 151 864 226 5,100 459 1,503 25
871 142 789 264 3,485
—
— —
—
539 255 852 282 15,176 975 2,130 212
11,302 4,257 289 1,336 12,355 29,586 127,431
10,324 4,181 231 1,403 12,560 28,590 117,549
9,877 5,080 149 1,164 11,063 33,180 113,818
7,542 5,835 140 1,434 10,845 37,231 106,597
8,992 3,725 86 657 9,763 32,310 101,391
8,723 3,843 71 964 8,569 35,951 98,751
8,932 3,817 70 468 7,190 35,425 89,375
9,922 2,767 92
9,739 6,411 32
7,526 6,142
6,139 31,548 78,727
4,338 27,836 73,543
2,278 19,079 49,656
—
3,053 54
—
149
—
900 232 497 96
— —
CHEMICAL NEWS [Allied
ί hemical ÎJH
#
l
nevv
p r o d u c t s and
processes
from Allied C h e m i c a l
research
FOR SPACE-AGE METAL NEEDS
O u t of A l l i e d C h e m i c a l ' s diversified research programs comes a c o n t i n u e d p r o c e s s i o n of p r o d u c t s a n d p r o c e s s e s . H i g h l i g h t e d h e r e a r e some of our c u r r e n t d e v e l o p m e n t s . . . n e w chemicals, plastics, m e t a l s , p a c k a g i n g films a n d other developments that offer user b e n e f i t s a n d e c o n o m i e s in many f i e l d s .
high-purity tungsten shapes formed in giant autoclave W o r l d ' s l a r g e s t h i g h t e m p e r a t u r e a u t o c l a v e is b e i n g i n s t a l l e d by our G e n e r a l C h e m i c a l D i v i s i o n at B a t o n R o u g e , La., to p r o d u c e s p e c i a l h i g h - p u r i t y tungsten shapes for high t e m p e r a t u r e industrial and space a p p l i c a t i o n s . The massive unit p e r m i t s i m m e d i a t e u t i l i z a t i o n of A l l i e d C h e m i c a l ' s u n i q u e n e w t y p e of t u n g s t e n m e t a l w h i c h o f f e r s much g r e a t e r s t r e n g t h , p u r i t y a n d d u c t i l i t y (plus m a c h i n i n g e c o n o m i e s ) than any previously a v a i l a b l e . D e v e l o p e d a f t e r t h r e e y e a r s of c o m p a n y - s p o n s o r e d r e s e a r c h , AI l i e d ' s t u n g s t e n m e t a l is p r o d u c e d in h i g h l y u n i f o r m g r a n u l e f o r m by the r e d u c t i o n of p u r e t u n g s t e n h e x a f l u o r i d e . . . an o u t g r o w t h of A l l i e d C h e m i c a l ' s l o n g - t i m e l e a d e r s h i p in the f i e l d of f l u o r i n e c h e m i s t r y .
Cover : Men high
lower
75,000-pound for
world's
temperature
''pressure
m e t a l s — to
will
into
Allied plant.
huge
vessel
the
bond
unique
shapes
missile
position at
Rouge
gas-pressure
company's granules
pit
Baton
In p l a c e ,
cooker''
proper
in s t e e l - l i n e d Chemical's
largest
autoclave — a
and
the
tungsten
for
rocket,
industrial
applications.
The a u t o c l a v e w i l l p r o v i d e t u n g s t e n f o r a p p l i c a t i o n in many a r e a s w h e r e f a b r i c a t i n g d i f f i c u l t i e s r e s t r i c t the use of o r d i n a r y t u n g s t e n . It is c a p a b l e of t u r n i n g o u t a v a r i e t y of fully dense (99%) tungsten shapes w e i g h i n g as much as 5,000 p o u n d s a p i e c e , w i t h no d e t e r i o r a t i o n in the m e t a l ' s f i n e g r a i n s t r u c t u r e . To i n v e s t i g a t e the p o t e n t i a l s of this s p a c e - a g e t u n g s t e n in y o u r a p p l i c a t i o n s , d i r e c t c o n f i d e n t i a l i n q u i r y to —
•
GENERAL CHEMICAL
DIVISION
FOR H I G H I M P A C T P L A S T I C
PARTS
• ultra-high molecular weight polyethylene is a plastic of exceptional toughness
FOR F O O D S A N D P H A R M A C E U T I C A L S
• extensive new facilities extend benefits of Pomalus* acid (food-grade malic acid)
Bullets b o u n c e d b a c k o u t of this n e w h i g h m o l e c u l a r w e i g h t p l a s t i c in t h e h o t M o j a v e d e s e r t . In o t h e r tests t h e y f a i l e d to f r a c t u r e a f r o z e n A - C ® 1220 s l a b . · These u n u s u a l tests i l l u s t r a t e t h e s u p e r i o r s h o c k r e s i s t a n c e of A - C 1220 h i g h molecular weight polyethylene, produced c o m m e r c i a l l y b y o u r Plastics D i v i s i o n in n e w f a c i l i t i e s at O r a n g e , T e x a s . A - C p o l y e t h y l e n e 1220 r e p l a c e s a n d outwears rawhide, hard w o o d , fabricr e i n f o r c e d hard rubber, brass, and o t h e r m a t e r i a l s in p a r t s s u b j e c t e d t o r e p e a t e d s h o c k , i m p a c t , or w e a r . T o u g h n e s s is a t t e s t e d t o c o m m e r c i a l l y by use as t e x t i l e l o o m p a r t s , d r i v i n g s t e e l - t i p p e d s h u t t l e s at s p e e d s as h i g h as 160-180 times a m i n u t e . This a b i l i t y t o absorb impact, combined with outstanding r e s i s t a n c e t o stress c r a c k i n g , e x c e l l e n t
The many a d v a n t a g e s of m a l i c a c i d as an acidulant and fixative for f o o d and b e v e r a g e flavor formulations have long b e e n r e c o g n i z e d . C o s t a l o n e has b e e n t h e d e t e r r e n t to w i d e s p r e a d use. N o w , A l l i e d C h e m i c a l extends the benefits of this s u p e r i o r a c i d u l a n t t o t h e e n t i r e f o o d and pharmaceutical industries through e x t e n s i v e n e w f a c i l i t i e s s o o n t o g o on s t r e a m at M o u n d s v i l l e , W . V a . Based on a m o r e e c o n o m i c a l c o n t i n u o u s p r o c e s s , this n e w p l a n t w i l l h a v e c a p a c i t y to meet t h e n e e d s of a s u b s t a n t i a l p o r t i o n of i n d u s t r y . . . a n d at p r i c e s f u l l y c o m p e t i t i v e with citric acid.
Roll s t a n d b e a r i n g made of A - C p o l y e t h y l e n e 1220.
M a r k e t e d under the t r a d e - n a m e POMALUS a c i d , A l l i e d C h e m i c a l ' s f o o d - g r a d e malic a c i d is d i s t i n g u i s h e d f o r its h i g h l e v e l of potency, purity and uniformity.
chemical resistance, superior electrical p r o p e r t i e s , a n d s t r e n g t h at e x t r e m e l y l o w t e m p e r a t u r e s , a c c o u n t s f o r use of A - C p o l y e t h y l e n e 1220 in d e m a n d i n g m e c h a n i c a l applications.
In a d d i t i o n to its many f o o d f i e l d uses, P O M A L U S a c i d a n d its salts o f f e r s e v e r a l a v e n u e s of i n v e s t i g a t i o n t o makers of pharmaceuticals, proprietaries and related products.
If l i g h t e r w e i g h t , l o n g e r w e a r , a n d l o w e r p e r f o r m a n c e cost are i m p o r t a n t f a c t o r s in y o u r a p p l i c a t i o n s r e q u i r i n g an e n g i n e e r i n g p l a s t i c , t r y A - C 1220 p o l y e t h y l e n e . W r i t e us at —
W h y not r e v i e w your f o r m u l a t i o n s n o w to t a k e a d v a n t a g e of the many b e n e f i t s a n d l o w e r c o s t of P O M A L U S a c i d ? G e n e r o u s w o r k i n g samples a n d t e c h n i c a l data are yours for the asking.
•
PLASTICS
DIVISION
Allied (jîemical
NATIONAL ANILINE
DIVISION
• T r a d e M a r k of A l l i e d C h e m i c a l
Corporation
FOR TONNAGE OXYGEN USERS
air separation plants based on Linde-Frankl process now available to industry T o n n a g e o x y g e n is n o w a v a i l a b l e t h r o u g h S e m e t - S o l v a y ' s W i l p u t t e Coke O v e n Division under a new c o m p r e h e n s i v e a g r e e m e n t w i t h G e s e l l s c h a f t Linde t o b u i l d a i r s e p a r a t i o n p l a n t s b a s e d on L i n d e - F r a n k l p r o c e s s in the W e s t e r n H e m i s p h e r e . W i l p u t t e is p r e p a r e d t o b u i l d a n d sell p l a n t s . . . b u i l d a n d l e a s e . . . or b u i l d and o p e r a t e " o n - s i t e " plants for customers.
Allied (Chemical
SEMET-SOLVAY D I V I S I O N
FOR " F R E S H " U R E T H A N E
These n e w a i r s e p a r a t i o n p l a n t s o f f e r s e v e r a l s i g n i f i c a n t a d v a n t a g e s t o users of t o n n a g e o x y g e n , n i t r o g e n , a n d r a r e g a s e s . The L i n d e - F r a n k l p r o c e s s is the most e f f i c i e n t e v e r d e v e l o p e d f o r t h e p r o d u c t i o n of c r y o g e n i c g a s e s . In a d d i t i o n , the p l a n t s r e f l e c t the pioneer w o r k and c o n t i n u i n g t e c h n o l o g i c a l a d v a n c e s of G e s e l l s c h a f t Linde in the air s e p a r a t i o n f i e l d . F u r t h e r , t h e y r e f l e c t W i l p u t t e ' s o w n vast e x p e r i e n c e in d e s i g n i n g , b u i l d i n g , a n d o p e r a t i n g p l a n t s f o r the s t e e l , c h e m i c a l a n d p e t r o l e u m i n d u s t r i e s . W r i t e for complete details.
FOAMS
new stabilized blowing lengthens storage life of foam systems
agent
A new s t a b i l i z e d b l o w i n g a g e n t t h a t e n a b l e s u r e t h a n e p r o d u c e r s to p r o d u c e " f r e s h " f o a m f r o m 6 - m o n t h - o l d p r e m i x or p a c k a g e systems is n o w a v a i l a b l e f r o m our G e n e r a l C h e m i c a l D i v i s i o n . T r a d e m a r k e d G E N E T R O N ® 11 SBA, this s u p e r i o r f l u o r o c a r b o n b l o w i n g a g e n t is c o m p a t i b l e w i t h a l l f o a m i n g r e d i e n t s . It r e t a r d s a n d m i n i m i z e s u n w a n t e d a c i d - f o r m i n g r e a c t i o n b e t w e e n the b l o w i n g a g e n t a n d the p o l y o l , thus i n c r e a s i n g the s t a b i l i t y of the m i x t u r e in s t o r a g e . W i t h G E N E T R O N 11 SBA, the user can r e d u c e p r e m i x s p o i l a g e , e l i m i n a t e f o a m i r r e g u l a r i t i e s , a c h i e v e b e t t e r c o n t r o l of f o a m i n g a g e n t , a n d m i n i m i z e p r e s s u r e rise d u e to b r e a k d o w n of the b l o w i n g a g e n t . A l l of w h i c h a d d s up t o m o r e s t a b l e systems a n d " f r e s h " h i g h q u a l i t y f o a m . For test s a m p l e s a n d t e c h n i c a l d a t a , w r i t e or p h o n e our n e a r e s t G e n e r a l C h e m i c a l D i v i s i o n o f f i c e .
Allied Chemical
GENERAL CHEMICAL DIVISION
F O A M S Y S T E M P R O B L E M S ? In a d d i t i o n to G E N E T R O N b l o w i n g agents, Allied Chemical produces b o t h the o t h e r m a j o r i n g r e d i e n t s of u r e t h a n e f o a m s — i s o c y a n a t e s a n d p o l y e t h e r s . Thus the c o m p a n y can b r i n g a b r o a d k n o w l e d g e of f o a m t e c h n o l o g y t o b e a r on y o u r f o a m system p r o b l e m s . Let us k n o w h o w w e can h e l p y o u .
FOR R A D I O AND
ELECTRONICS
exclusive, new faster etchant produces better printed circuits
FOR BETTER P O L Y E S T E R FORMULATIONS
THEIC resin chemical is excellent polyester formulation modifier From t h e d e v e l o p m e n t l a b o r a t o r i e s of o u r N i t r o g e n D i v i s i o n n o w comes T H E I C [tris(2-hydroxyethyl) isocyanurate] a v e r s a t i l e resin c h e m i c a l w i t h m u l t i p l e a d v a n t a g e s to the user. T H E I C is an e x c e l l e n t m o d i f i e r of p o l y e s t e r f o r m u l a t i o n s , i m p r o v i n g t h e r m a l s t a b i l i t y of coatings and providing good flexibility a n d a d h e s i o n . Its use in w a t e r - s o l u b l e a l k y d f o r m u l a t i o n s results in film p r o p e r t y improvement, showing g o o d Sward hardness, impact and chemical resistance, f l e x i b i l i t y , gloss a n d c u r e r a t e . M a l e a t e polyesters containing THEIC h a v e b u r n i n g r a t e r e d u c e d up t o 4 0 % u n d e r t h a t of s t a n d a r d e t h y l e n e g l y c o l - m a l e a t e p o l y e s t e r c a s t i n g r e s i n s . Use of T H E I C in encapsulating formulations decreases cracking tendencies. Electrical properties such as d i e l e c t r i c c o n s t a n t , d i s s i p a t i o n factor and dielectric strength are excellent. For f u r t h e r f a c t s on this i n t e r e s t i n g new resin c h e m i c a l , w r i t e N i t r o g e n D i v i s i o n .
A new etchant for c o p p e r p r i n t e d circuits t h a t e t c h e s f a s t e r , cuts t o t a l costs a n d i m p r o v e s e f f i c i e n c y has b e e n d e v e l o p e d by our S o l v a y Process D i v i s i o n . T r a d e m a r k e d C O P P E R S O L * , the n e w c o n c e n t r a t e gives faster immersion and spray etch rates with minimal u n d e r c u t t i n g t h a n c a n be o b t a i n e d w i t h o t h e r c o m m e r c i a l e t c h a n t s . In a d d i t i o n , costs a r e l o w e r per p o u n d of c o p p e r d i s s o l v e d ; c o p p e r c a p a c i t y c a n be a p p r o x i m a t e l y 50% greater. Bath p r e p a r a t i o n is e a s y . User s i m p l y a d d s l i q u i d COPPERSOL c o n c e n t r a t e t o a d i l u t e s o l u t i o n of e c o n o m i c a l e l e c t r o l y t e g r a d e s u l f u r i c a c i d . The b a t h is n o n - s l u d g i n g a n d c a n g e n e r a l l y be used in e x i s t i n g e q u i p m e n t . To d e t e r m i n e the a d v a n t a g e s of COPPERSOL in y o u r c o p p e r e t c h i n g o p e r a t i o n s , w r i t e or p h o n e — Swa rd t e s t .
I Allied (Chemical
SOLVAY PROCESS DIVISION
" T r a d e M a r k of A l l i e d C h e m i c a l
Corporation
Allied (Jiemical
NITROGEN DIVISION
FOR "HARD-TO-PACKAGE" PRODUCTS
• Aclar® fluorohalocarbon film provides ultimate moisture barrier W h e n k e e p i n g m o i s t u r e in or o u t of t h e p a c k a g e is a p r i m a r y p r o b l e m , t u r n to A C L A R , t h e u n i q u e n e w f l u o r o h a l o c a r b o n film p r o d u c e d b y o u r General Chemical Division. ACLAR is u n m a t c h e d as a m o i s t u r e b a r r i e r by any other t r a n s p a r e n t film. It's b e t t e r t h a n S A R A N , p o l y e t h y l e n e , p o l y e s t e r or v i n y l . ACLAR p r o t e c t s like f o i l , b u t is t r a n s p a r e n t and more resistant to flexing and pinholing. ACLAR is t o u g h ; it resists t e a r i n g a n d has e x c e l l e n t i m p a c t s t r e n g t h . ACLAR w i t h s t a n d s t e m p e r a t u r e s f r o m - 3 2 0 ° F t o + 390°F, a n d c a n be s t e r i l i z e d b y s t e a m , i r r a d i a t i o n or c h e m i c a l means. ACLAR is c h e m i c a l l y i n e r t t o t h e h a r s h e s t i n o r g a n i c c h e m i c a l s a n d most o r g a n i c c o m p o u n d s . It has e x t r e m e l y l o w gas p e r m e a b i l i t y , a n d c o n t r i b u t e s neither taste nor o d o r . ACLAR is a v a i l a b l e in t h i c k n e s s e s f r o m V2 mil t o 20 mils, a n d c a n be heat-sealed and thermoformed. A v a r i e t y of l a m i n a t e s c a n be s u p p l i e d by t h e n a t i o n ' s f o r e m o s t c o n v e r t e r s . For f u r t h e r i n f o r m a t i o n on this superior " t r a n s p a r e n t f o i l " , either for p a c k a g i n g use or in e l e c t r i c a l a n d mechanical design applications, write to G e n e r a l Chemical Division, P. O . Box 3 5 3 , M o r r i s t o w n , N e w J e r s e y .
Allied Chemical
GENERAL CHEMICAL DIVISION
FOR D E T E R G E N T
MARKETERS
complete line of LAS "soft" detergents answers industry's
needs
In c o o p e r a t i o n with the U.S. d e t e r g e n t i n d u s t r y ' s v o l u n t a r y p r o g r a m of c o n v e r t i n g f r o m ABS to L A S - t y p e d e t e r g e n t s , our N a t i o n a l A n i l i n e D i v i s i o n is i n t r o d u c i n g a l i n e of N A C C O N O L ® s u r f a c t a n t s b a s e d on s t r a i g h t - c h a i n l i n e a r a l k y l a t e s u l f o n a t e s (LAS). A v a i l a b l e f o r m s i n c l u d e 40 a n d 9 0 % f l a k e , 4 0 % l i g h t , dense and extra dense b e a d , and sulfonic a c i d . D e p e n d a b l e , c o n t i n u i n g s u p p l y is a s s u r e d by e x t e n s i v e m a n u f a c t u r i n g c a p a c i t y , plus A l l i e d C h e m i c a l ' s r a w m a t e r i a l s p o s i t i o n . P r o d u c t i o n is based upon linear alkylates made from normal paraffins p r o d u c e d by the c o m p a n y at W i n n i e , T e x a s . To r e c e i v e s a m p l e s a n d c o m p l e t e i n f o r m a t i o n on new " s o f t " N A C C O N O L p r o d u c t s . . . a n d to be kept i n f o r m e d of new d e v e l o p m e n t s , w r i t e or p h o n e —
Ahied Chemical
NATIONAL ANILINE D I V I S I O N
FOR BETTER PVC C O M P O U N D S
Plaskon® CPE
resins
The v e r s a t i l e P L A S K O N CPE resins d e v e l o p e d by our Plastics D i v i s i o n a r e h i g h l y e f f e c t i v e as m o d i f i e r s for rigid and semi-rigid p o l y v i n y l c h l o r i d e compounds a n d p o l y e t h y l e n e , used in m a k i n g p i p e a n d many o t h e r p r o d u c t s . P r o d u c t s c a n be f a b r i c a t e d by conventional extrusion, injection molding, and calendering techniques. Use of these m o d i f i e r s w i t h PVC at l o w l e v e l s i m p r o v e s impact strength, w i t h o u t adversely a f f e c t i n g tensile s t r e n g t h or s a c r i f i c i n g c h e m i c a l r e s i s t a n c e . M e d i u m impact dry blends and p e l i e t i z e d compounds have been d e v e l o p e d w h i c h pass T y p e 1, G r a d e 1 r i g i d PVC s p e c i f i c a t i o n s . C o m p o u n d s p r o d u c e d at h i g h l e v e l s of i n c o r p o r a t i o n have excellent impact and chemical resistance.
PVC
pipe.
O t h e r P L A S K O N CPE resins h a v e b e e n d e v e l o p e d f o r the h a r d s u r f a c e f l o o r c o v e r i n g i n d u s t r y to i m p r o v e the p r o p e r t i e s of v i n y l - a s b e s t o s t i l e s , h o m o g e n e o u s v i n y t i l e s , v i n y l sheet g o o d s , a n d c o v i n g s . H e r e , i m p r o v e d hot t e a r s t r e n g t h results d u r i n g p r o c e s s i n g , w h i l e f l e x i b i l i t y and impact strength are i m p a r t e d to the f i n i s h e d p r o d u c t — a l l at a l o w e r r a w m a t e r i a l c o s t . C o m p r e h e n s i v e t e c h n i c a l d a t a and samples are
Allied Chemical
PLASTICS
DIVISION
f o r the a s k i n g . W r i t e or p h o n e Plastics
Division.
yours
principal
products
for
industry:
BARRETT D I V I S I O N - B u i l d i n g gypsum, roof
insulation,
insulations,
protective
sheathing,
Materials: ceiling coatings,
siding,
tile,
roofing
urethane
and
insula-
t i o n s , v i n y l b u i l d i n g p a n e l s ; Paving M a t e r i a l s : b i t u m i nous c o n c r e t e , p a v i n g s e a l e r s , road t a r s and a s p h a l t s , s t o n e , sand
and g r a v e l
aggregates,
urethane
expan-
sion j o i n t . FIBERS fiber
DIVISION-heavy
for
industrial
fine denier
and
CAPROLAN
denier
home
CAPROLAN
furnishings
nylon fiber for
nylon
end
uses;
apparel.
GENERAL CHEMICAL D I V I S I O N - s u l f u r i c
and o t h e r
c o m m e r c i a l a c i d s , a l u m s , p h o s p h a t e s , f l u o r i n e and sodium c o m p o u n d s ; B A K E R & A D A M S O N
reagents
and
fine chemicals; GENETRON refrigerants, aerosol propellants,
urethane
solvents; ACLAR
foam
blowing
and C A P R A N
agents;
GENESOLV
specialty
films;
agri-
c u l t u r a l i n s e c t i c i d e s , w e e d k i l l e r s and s p e c i a l t i e s . INTERNATIONAL
Allied (Jiemical
products for export
Chemical
markets.
N A T I O N A L A N I L I N E D I V I S I O N - N A T I O N A L d y e s , cert i f i e d c o l o r s , b i o l o g i c a l s t a i n s and i n d i c a t o r s , chemicals,
intermediates,
NACCONOL BASIC TO AMERICA'S PROGRESS
D I V I S I O N - selling Allied
ACTOL
detergents,
polyethers
(organic
pharmaceutical NACCONATE
organic
chemicals,
diisocyanates,
for urethanes, HARMON
COLORS
pigments).
NITROGEN D I V I S I O N - A R C A D I A N fertilizers, nitrogen For more information, write Allied Chemical Corporation, 61 Broadway, N.Y., N.Y. 10006.
solutions, PROCADIAN feed mixtures, ammonia, urea, e t h y l e n e o x i d e , e t h y l e n e and p o l y e t h y l e n e
glycols,
ethanolamines, melamines. In Canada: Allied Chemical Canada, Ltd., 1155 Dorchester Boulevard West, Montreal 2, Quebec. Inquiries from abroad: Allied Chemical International, 1+0 Rector St., N.Y., N.Y. 10006.
PLASTICS
DIVISION-coal-tar
chemicals;
PLASKON
m o l d i n g c o m p o u n d s , f l u o r o c a r b o n , i n d u s t r i a l and c o a t ing r e s i n s ; A - C p o l y e t h y l e n e ; i n d u s t r i a l tar
products,
including creosote oils, pitches, coatings, pipeline enamels. SEMET-SOLVAY
DIVISION-coke
and by-products;
WIL-
PUTTE b y - p r o d u c t c o k e ovens and c o a l c h e m i c a l s p l a n t s and e n g i n e e r i n g s e r v i c e s . SOLVAY P R O C E S S D I V I S I O N - s o d a ash, c a u s t i c s o d a , potassium
carbonate,
potassium
bicarbonate,
caustic
p o t a s h , c h l o r i n e , c h l o r o m e t h a n e s and b e n z e n e s , h y d r o gen p e r o x i d e ; c a l c i u m , a l u m i n u m , a m m o n i u m c h l o r i d e s ; cleaning
compounds;
vinyl
chloride;
MUTUAL
chro-
mâtes. U N I O N TEXAS PETROLEUM D I V I S I O N - crude o i l , natural g a s , n a t u r a l gas c o n d e n s a t e , e t h a n e , p r o p a n e , b u tanes,
natural
gasoline,
petrochemical
I t e m s a b o v e a p p e a r i n g in l i g h t f a c e c a p i t a l l e t t e r s are r e g i s t e r e d t r a d e m a r k s of A l l i e d C h e m i c a l C o r p o r a t i o n .
feed
stocks.
P r i n t e d in U. S. A.
Among the more prevalent of the cardiovascular diseases is hyper tension. Hypertension afflicts about 45% of the over-65 age group. An intense R&D effort has resulted in a steady flow of hypotensive drugs in recent years. These new drugs are apparently good enough to spur over all sales of hypotensives by 5 to 10% per year. Better sales performance is being turned in by drugs for treating moderate-to-severe hypertension. Sales of more potent hypotensives are growing at closer to 5% per year. Cardiovascular drugs other than hypotensives will outperform the population curve by about the same margin as will the over-65 age group.
Exports of Drugs Are Declining (Millions of Dollars)
300
250
200
150
100
Skin Drugs on Plateau The Census Bureau survey shows that sales of drugs for skin problems amounted to $125 million in 1962. Five out of eight of these dollars came from proprietary products. Ethical products for the skin showed up strongest in protective, antipruritic, and local anesthetic oint ments and creams, and coal-tar-con taining products for the skin. Ethicals captured about 50% of the $64.6 mil lion turned in by all such products. Proprietaries grabbed 66% of the $17.3 million in hemorrhoidal product sales in 1962. And a thumping 90% of the $34.5 million analgesic oint ment and rubbing alcohol business was in proprietaries. However, don't look for sharp growth in sales of skin preparations. Sales here will probably increase by only 2% per year; temporary spurts may come when a heavily promoted proprietary product hits the market. Vitamins
Listless
The sales pattern in vitamins (1962 manufacturers' sales were $301 mil lion) is a bit different from that of most other therapeutic groups. While vitamins and hematinics are classified as both ethical and proprie tary, some 70% of the so-called ethical products can be purchased without a prescription. Nonetheless, ethical sales of vitamins and hematinics in 1962 were $193.6 million, according to the Census Bureau. ADL says that the equivalent figures for 1963 was $200 million. Multivitamin products dominate vitamin and hematinic product sales. Sales in 1962 were close to $100 mil-
50
0 '47
'51
'55
»5β
»57
'51
'59
'SO
'61
'62
'03
'04 (tit)
Sources: Bureau of the Census; C&EN estimates
lion. Pediatric vitamins rang up sales of $42.5 million; B-complex products, $21.1 million. Sales of hematinic products of all types were slightly more than $50 million. Sales of spe cial hospital solutions such as dextrose (but not including blood plasma) were $33.3 million. While unit sales of vitamin prod ucts are climbing faster than the popu lation curve, total sales dollars have been lagging. Total vitamin sales (ethical and proprietary) in 1964 may drop to $280 million from 1963's $301 million. One big reason for such a gloomy sales outlook is the advent of wide spread mail-order type selling of vita mins at "discount" prices. This change in marketing philosophy plus price attrition caused by imports of low-priced foreign material has hit the dollar volume of multivitamin prod ucts hard. The upshot is that unit growth hasn't quite been able to can cel out lower dollar volume. One drug company official says, "You're winning if you hold your volume." U.S. drug makers are countering price weakness in multivitamin prod ucts by marketing specialty formula tions. Emphasis is on prenatal, pediatric, and geriatric products. The
drug makers hope to take advantage of the slightly faster sales increase provided by both the very young and the very old segments of the popula tion. Hospital solutions sales should in crease faster than the population growth curve. The number of hos pitals and hospital beds in the U.S. is inching upward. And ever increas ing numbers of people are being hos pitalized. Biologicals It's hard to get a fix on the amount of sales of biologicals (vaccines, inocu lants, and the like, derived from animal sources). One reason is that drug firms marketing such products have widely different yardsticks for deciding what they classify as biologicals. But the Pharmaceutical Manufacturers As sociation (PMA) calculates that manu facturers' sales of biologicals for human use totaled about $140 million last year. There's no question, though, that biologicals are currently among the darlings of the drug industry and that sales of biologicals are pushing up nicely. This movement into the spot light started about 10 years ago with SEPT.
7, 196 4 C&EN
105
the appearance of Salk polio vaccine. Since then there has been a parade of exciting new vaccines. In the past four years 29 new biologicals were marketed, of which five were completely new agents. Polio, measles, and influenza vaccines—among the new products on the market—take aim at the relatively lush infant and geriatric markets. So sales of biologicals may well exceed $150 million this year. (This value is based on the $140 million cited by PMA for 1963.) Should a successful vaccine against the common cold appear, biologicals could leapfrog almost to the head of the drug sales class. Animal Health Is Big Business The animal health and nutrition business, though small compared with the human health business, is still respectably sized. Manufacturers' sales of animal health and nutrition products in 1963 were about $250 million. Some $140 million of this came from products used to prevent and control diseases in animals. The rest came from feed supplements used to improve nutrition and general well-being. Antibiotics, with sales of $67 million in 1963, led the way in sales of all drug products for animal use. Tetracyclines accounted for most of these sales. In the runner-up slot came vitamins with sales of $40 million ($25
million of this was vitamin A ) , followed by biologicals at $30 million. Coccidiostats ranked fourth with sales of $20 million, and sales of anthelmintics and urea followed at $10 million each. Some 3 5 % of sales of animal health and nutrition products in 1963 went to the poultry industry. Hog production accounted for 26%; beef-cattle production 24%; and dairy products production 12%. Producers of animal health products foresee even bigger sales ahead. A goal of $1 billion in sales in the 1970's is frequently expressed. They'll have to hustle. True, the use of animal health products has been growing at about 20% per year in physical volume. But dollar volume is increasing at less than 5% per year. Prices are sagging; and further price weakness is likely. There is also evidence that the poultry market is approaching saturation with respect to drug use. Thus, growth of existing products is following the animal population curve. Even so, this sales volume for the near term should plateau at a substantial $300 million for animal health and nutrition products. For 1964, the biggest percentage gains in drug sales will be posted by biologicals and anthelmintics, each possibly increasing by 10% thanks to new or improved products. Antibi-
ANTIBIOTICS DOMINATE DRUG EXPORTS Medicinal Exported
1959
Antibiotics, broad and medium spectrum, bulk Antibiotics, broad and medium spectrum, dosage forms Antibiotic and vitamin feed supplements Antibiotics or sulfa drugs in mixtures or compounds Glandular products, natural or synthetic, all forms Medicinal chemicals, bulk organic and inorganic, n.e.c. Medicinal chemicals in dosage form, n.e.c. Parenteral solutions, including ampoules, n.e.c. Prednisolone, including derivatives, and preparations, all forms Veterinary medicinals and preparations, n.e.c. Vitamin preparations in dosage form except parenteral solutions and ampoules, n.e.c. All others Totals Source:
106
Bureau of the Census
C&EN
SEPT.
7, 196 4
(Thousands of Dollars) 1962 1960 1961
1963
$21,911
$24,611
$26,257
$27,938
$23,486
33,257
33,672
27,755
21,563
20,308
12,074
11,929
12,025
11,336
13,447
17,409
15,652
14,229
10,880
8,997
10,112
9,660
9,076
9,795
9,497
17,259
20,145
23,799
28,576
28,786
24,473
22,178
24,050
20,333
21,921
10,628
11,243
10,303
10,205
10,532
18,165
12,340
12,629
14,841
13,943
6,020
6,569
11,248
16,375
17,036 95,458 283,802
16,794 89,924 274,717
14,214 88,930 269,859
12,395 89,570 269,257
8,189 17,743 89,198 275,253
otics sales may increase by 5% this year. But tetracycline patents are due to start running out in 1966. Thus price attrition may be stepped up in 1965. If prices drop further, dollar volume gains for antibiotics in 1965 over 1964 may be nil. The growth needed to hit the forecast for 1970 of $1 billion in sales of animal health and nutrition products will have to come from new products. And it will have to come in the largeanimal markets. This market, say large-animal nutrition experts, needs drugs that can work in two main categories: more effective disease control and more effective feed conversion. Although a pound of live broiler can be produced with two pounds of feed, it takes more than 10 pounds of feed to produce a pound of beef. To fill these needs and thus to capture this potentially valuable market, chemical and drug companies now have extensive programs on the nutritional problems of large animals. Such R&D costs are high, though, in both time and money. Exports Level Off The picture on drug exports is blurred. Commerce Department tallies indicate that exports of medicinals in 1963 totaled $269 million. This figure includes human and veterinary products in finished form, bulk shipments, and products such as bandages, and the like. The 1962 figure was $270 million. The Census Bureau says about $91 million worth of consumer size packages of drugs (except biologicals) were exported in 1962. Chances are good that U.S. exports of drugs will decline slowly at least during the next five years. The decline will probably be most noticeable in the export figures for drugs in finished form in consumer size packages. One reason for singling out finished-form consumer size packages is that foreign subsidiaries of U.S. drug firms are doing more of their own manufacturing and packaging. In past years these subsidiaries have been almost entirely marketing organizations. The change from marketing to manufacturing organizations reflects the rapid growth of overseas drug markets. Nearly one sales dollar out of every four chalked up by U.S. drug firms now comes from sales overseas, and such sales are growing at a faster rate than U.S. drug sales.
4
ORGANIC CHEMICALS
ORGANIC OUTPUT CONTINUES UPWARD TREND. Final 1963 figures for some industry segments point to over-all production gain compared with 1962
HENRY 0. PARSONS, Senior Commodity Analyst, Chemical Division, U.S. Tariff Commission, Washington,
Based on somewhat incomplete data, total production of synthetic organic chemicals in 1963 was greater than in 1962, when over-all production totaled 64.2 billion pounds. Final figures for 1963 for some seg ments of the synthetic organic chemi cal industry reveal, thus far, that the segment showing the greatest per centage production gain from 1962 to 1963 is plastics and resin materials ( + 10.67c). Following closely behind are dyes (+8.0%), plasticizers (+6.3 r /r), synthetic organic pigments (+6.0 Γ Λ),
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