As patents for its Glaxo Holdings' blockbuster antiulcer drug, Zantac, began to expire in 1995, the prognosis looked grim. But with bold strokes such as the $14 billion acquisition of Wellcome, CEO SIR RICHARD B. SYKES has kept the British drug giant healthy. Even as Zantac sales slid, Glaxo's 1996 revenues grew some 5%, to $13.9 billion. 1997 could be rough, but upcoming AIDS and flu treatments should be big hits down the road.

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