Pharmacia, Monsanto Post Big 4th Quarters

Pharmacia & Upjohn Inc. and Monsanto Co., which will complete a $31-billion merger this year, posted strong fourth-quarter profits on increased sales of drugs for arthritis, incontinence and glaucoma. Monsanto had profit from continuing operations of $46 million, or 7 cents a share, on strong sales of the arthritis painkiller Celebrex, following a year-earlier loss. Monsanto, which also makes agricultural products such as seeds and herbicides, had posted a loss of $410 million, or 69 cents, a year ago. Sales rose 35% to $2.34 billion. Celebrex had $1.5 billion in 1999 sales, a record-setting introduction. Pharmacia’s profit from operations rose 11% to $261 million, or 50 cents a share, matching estimates. Sales grew 10% to $1.94 billion, with a big boost from Xalatan, the No. 1 glaucoma drug.