IMS INTERNATIONAL SPINS-OFF UNIT IN OFFERING
<IMS International Inc> said its
Applied Bioscience International Inc <APBI> unit is making an
initial public offering of three mln shares of common stock at
15 dlrs a share.
    The offering, through a syndicate managed by Shearson
Lehman Bros Inc and L.F. Rothschild Unterberg Towbin Inc,
consists of IMS's entire holdings.
    The unit is a toxicological testing company that has
laboratories in the U.S. and U.K. It is parent to Bio/dynamics
Inc and Life Science Research Ltd, which were previously the
Life Sciences division of IMS International.
 Reuter
