ISP pharmaceutical division announces price increase

ISP pharmaceutical division will implement an average price increase of 7 to 10% for pharmaceutical alginates. These increases apply to pricing worldwide and will take effect on December 1, 2004, or as contracts allow. Over the past year, raw material costs have increased substantially due to reduced harvests leading to a tight supply of some seaweeds. Further, energy, water, transportation and environmental compliance costs increased dramatically in 2004 and are forecasted to significantly increase again in 2005. Although ISP has implemented aggressive cost containment measures as well as improved operating efficiencies, these actions have been insufficient to offset these substantial cost increases.

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