Approval Received

Approval Received from 96 Pecent of Pharmacia’s Stockholders for Upjohn Merger

(KALAMAZOO, Mich. and STOCKHOLM, Sweden) According to a preliminary count, Pharmacia & Upjohn’s offer to Pharmacia’s stockholders has been accepted to such an extent that the shares represent 96 percent of the capital and votes in Pharmacia.

The final count and certain essential measures of a formal nature which are required before the merger can occur are expected to be completed later this week. Once these measures have been taken, Pharmacia & Upjohn intend to carry out the offer by presenting an account of settlement for shares submitted during the ordinary acceptance period.

In consultation with the Stockholm Stock Exchange, it has been agreed that trading in Pharmacia & Upjohn Swedish Depository Shares will commence on November 6,1995, under the condition that trading of the Company’s stock can commence on November 3, 1995, on the New York Stock Exchange. The final day for trading in Pharmacia’s stock on the Stockholm Stock Exchange will be Friday, November 3,1995.

Once the offer has been completed, the intention is to make it possible for stockholders who have not submitted their shares to accept the offer by extending the acceptance period through November 17,1995. For shares submitted during the extended acceptance period, an account of settlement is intended to be carried out as soon as possible after November 17,1995. Acceptance forms submitted during the period October 23 – October 27,1995, will, without further action from the affected stockholders, be considered submitted during the ordinary acceptance period.

Compulsory redemption of shares outstanding in Pharmacia is expected to be announced soon.