LONDON--In releasing its third-quarter results late last month, Pharmacia & Upjohn here said it plans to focus future R&D investments on "obtaining leading-edge research technologies, especially in genomics and bioinformatics, to aid in drug discovery and development." For the quarter the company's R&D expenditures fell 18.8 percent, from $330 million to $268 million; for the nine months year-to-date, they fell 10.8 percent, from $933 million to $832 million. By comparison, the company's net earnings fell 61.2 percent, from $204 million to $79 million, for the quarter, but rose 34.3 percent, from $336 million to $451 million, for the nine-month interval.
As a percentage of sales, R&D at Pharmacia & Upjohn accounted for 17.3 percent in the third quarter of 1997, compared to 19.2 percent a year ago, and 17 percent for the past nine months this year, compared to 17.8 percent in 1996. The company said it is in the midst of a comprehensive, worldwide restructuring and turnaround program.