Sales Slip At American Home Products

American Home Products' sales slipped 1% in the first quarter of 1997 to$3.6 billion but, on a pro forma basis, grew 6%. Net income was $576.67 million, up 18%, and earnings per share advanced 15% to 90 cents. The first-quarter revenues were affected by the sale of AHP's majority interest in the American Home Foods business.

In the pharmaceutical division, the two products launched in the second quarter of last year, Redux (dexfenfluramine) and Naprelan (naproxen), drove pharmaceutical turnover in the USA to rise 13%, offsetting lower revenues from oral contraceptives and cardiovascular drugs. International pharmaceutical sales were down 2%, reflecting the unfavorable effects of foreign exchange.

First-Quarter Sales Breakdown ($ million) ---------------------------------------- Pharmaceuticals 2,098.5 +7% Consumer care 495.5 +4% Medical devices 323.2 +7% Total health care 2,917.3 +5% Agriculture 685.7 +8%