Since taking the helm of drugmaker Merck in mid-1994, RAYMOND V. GILMARTIN has boosted morale, instilled a spirit of teamwork, and made pharmaceuticals research a key focus. That helped push 1996 income up an expected 16%, to $3.9 billion. Now, as Gilmartin attempts to change Merck into a "top-tier growth company," his hopes are pinned on new drugs for ailments such as osteoporosis and hypertension.

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