Word: flair
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Dates: during 1970-1979
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Stunted by Success. Growth seems stunted by past success, company policy and the Justice Department. Du Pont's old flair for turning the test tube into a horn of plenty made it the 15th largest industrial company in the U.S., with $3.5 billion in sales in 1968. From this lofty level, Du Pont finds it nearly impossible to match past expansion. Sales almost trebled in the 1940s and doubled in the 1950s, but in the decade now ending, they have climbed only about 60%. Overseas, where 1968 sales were $440 million and just starting to be profitable, Du Pont...
This month, in an important new move, Du Pont expects to complete its first domestic acquisition in a quarter of a century. It will acquire Endo Laboratories, a small Long Island-based pharmaceutical maker (1968 sales: $22 million). Du Pont is obviously buying marketing flair, not volume. "We need Endo," says Roger E. Drexel, manager of Du Font's industrial and biochemicals department. "Without a feedback of marketing information, we reduce our chances of success with a new pharmaceutical product...