Stryker's ability to successfully integrate Howmedica and return to historical earnings growth (20% annually the past two decades) by 2000 rests largely in the hands of three recently appointed Group Presidents - Ronald A. Elenbaas (Med-Surg), Edward "Ned" Lipes (Howmedica Osteonics U.S.) and Jack O'Mahony (Stryker International).

Completes acquisition of Pfizer's Howmedica orthopedic division for $1.65 bil. in cash, the firms report Dec. 4. The deal was first announced in August ("The Gray Sheet" Aug. 17, p. 3)

Novartis has long championed the idea of making Sandoz an autonomous unit within the Swiss originator while stopping short of carving out the business altogether. Rumors continue to swirl around a potential deal, which was discussed during the recent virtual Meet Novartis Management event.