Word: syntex
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...they ever will. Take the testimony of Judson Sayre, retired vice president of Borg, Warner, who now spends his time investing for himself in a quiet office in Chicago's Merchandise Mart. Sayre has done very well on growth stocks, reputedly has made $1,000,000 on Xerox and Syntex. Last week Sayre bought 5,000 shares of Pennsylvania Railroad, and he intends to pay more attention to other blue chips. Says he: "They have all their future in front of them...
...drug companies making the pill, the most spectacular is a small firm that is both very profitable and much misunderstood: Syntex Corp. Syntex's common stock, which is being split two-for-one this week, is the most heavily traded issue on the American Stock Exchange, in 1965 rose in price more than any other stock on the exchange (from 64⅜ to 219⅝). Syntex is incorporated in Panama, operates largely in Mexico and sells mostly in the U.S. It is a leader in the field of steroid hormones, which includes the birth-control pills...
From the Yam. Syntex's own oral contraceptive, Norinyl, holds a relatively small share of the market, but Syntex also supplies the pill's basic compound to three other major pill makers: Eli Lilly, Johnson & Johnson, and Parke, Davis. Though the pill has made Syntex famous, 59% of the company's sales and half its profits come from other drug products. These include other hormones used to treat skin inflammations and the ingredients of cortisone, a major drug for treatment of arthritic diseases...
...pill's hormones are derived mostly from a chemical called diosgenin, which until 1945 was obtainable only in small quantities from tropical plants. Then Dr. George Rosenkranz, at that time a Syntex research chemist, found that the Mexican yam, or barbasco root, yielded much larger amounts of diosgenin. In 1951 Syntex's Dr. Carl Djerassi first synthesized from it female sex hormones that women could swallow. Later it was discovered that the hormones were effective as an oral contraceptive. Syntex then began selling the compound to other drug firms, later introduced its own pill. Both Syntex and Searle...
Benefiting from Research. Because Syntex's stock has been so volatile, some Wall Streeters have been skeptical of the firm's future once the pill boom lags. But only about 20% of the U.S. women who could use the pills now do so, and most of the overseas market has barely been tapped. Moreover, Syntex's research in hormones and nucleic acids is right where major new-drug discoveries are most likely to come. Even now, Syntex is benefiting from its research. Its earnings in the latest quarter jumped 236% (to $5.9 million) and sales climbed...