Subject: Electro-Nucleonics Says Pharmacia Plans To Boost Stake in It
Date: Published: 10/3/86 46 lines
Source:  Wall Street Journal.  Copyright Dow Jones & Co. Inc. 

   Electro-Nucleonics
   Says Pharmacia Plans
   To Boost Stake in It

   FAIRFIELD, N. J. -- Electro-Nucleonics Inc. said Pharmacia
AB of Sweden agreed to boost its holdings in the company to
15.8% and paved the way to raise the stake to 20%.
   Electro-Nucleonics, a maker of medical diagnostic tests
and instruments, said it agreed to make a private placement
of 470,000 unregistered common shares at $17 each with a unit
of the Uppsala, Sweden-based drug and biotechnology concern.
Pharmacia said it also gained the right to name two
candidates to Electro-Nucleonics' 12-member board.
   Pharmacia AB recently acquired through a private placement
250,000 shares of Electro-Nucleonics, whose diagnostic tests
for infectious diseases include a blood screening test for
acquired immune deficiency syndrome, or AIDS. 
   By agreement, Pharmacia AB and its Pharmacia Inc. unit
might buy 190,000 more shares on the open market to increase
their holding to 20%, according to the U. S. concern.
   Cooperation between the two companies started last year
when Electro-Nucleonics began marketing certain Pharmacia
products in the U. S. Two weeks ago, Pharmacia took its
initial 6% stake.  In return, Electro-Nucleonics received
marketing rights in the U. S. to Pharmacia's existing and
future allergy and diagnostic products.
   Pharmacia believes that tapping Electro-Nucleonics's
nationwide sales organization will speed penetration of U. S. 
markets for its allergy products.  The Swedish company's
officials say the U. S. concern's instrumentation know-how
could complement Pharmacia's sophisticated chemical
expertise, laying the foundation for a variety of the sort of
simple, doctor's office diagnostic tests that some analysts
expect to proliferate.
   Electro-Nucleonics shares closed yesterday at $14.25, up
25 cents, in national over-the-counter trading.

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