U.S. drug companies have been taking eagerly to cosmetics. Bristol-Myers was one of the first to beautify itself by buying Clairol. Among recent mergers: Chas. Pfizer and Coty, American Cyanamid and Breck. Last week, in a reverse play that took both the drug and the cosmetics industries by surprise, Revlon, Inc., whose sales of more than $195 million in 1964 made it the second biggest U.S. cosmetics maker (after Avon Products), announced that it is buying a well-known U.S. drug company.
Revlon wants to acquire 30-year-old U.S. Vitamin & Pharmaceutical (vitamins, diabetic products, vascular drugs) for...
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