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BIOSPECIFICS TECHNOLOGIES RESPONDS TO ARTICLE CONCERNING ITS EARNINGS PROSPECTS

 BIOSPECIFICS TECHNOLOGIES RESPONDS TO ARTICLE CONCERNING
 ITS EARNINGS PROSPECTS
 LYNBROOK, N.Y., March 30 /PRNewswire/ -- Biospecifics Technologies Corp. (NASDAQ: BSTC) responded today to an article which appeared in a national publication concerning its earnings prospects.
 "Investors should be aware" said company President Edwin H. Wegman, "that due to the fulfillment of stipulated two-year sales goals, an exclusive ten-year agreement has been reached with our U.S. licensee, Knoll Pharmaceutical Corp., and Knoll Pharmaceuticals of Canada. Exclusivity will continue based on annual increases in sales. Sales of the product, Collagenase Santyl, have been increasing at an average rate of 26 percent per quarter for the past five quarters.
 "We believe that this rate will continue since our product has not begun to approach the needs of the market for treatment of pressure ulcers (bed sores), a condition which costs hospitals and nursing homes between $6 and $7 billion annually. Other FDA-approved used for the product are expected to increase sales even further." The company believes that these sales will more than compensate for any revenues that may be lost in Europe.
 Wegman expects that applications for new-drug approvals will shortly be filed in several European countries based on the clinical results with the company's injectable collagenase product, used for treatment of herniated spinal discs.
 Biospecifics recently announced a 100 percent stock dividend to be paid on April 20, 1992.
 -0- 3/30/92
 /CONTACT: Edwin H. Wegman, chairman and president of Biospecifics Technologies, 506-593-7000, or Sam Witchel of Scharff, Witchel & Co., 212-983-1060, for Biospecifics Technologies/
 (BSTC) CO: Biospecifics Technologies Corp. ST: New York IN: SU:


AH-OS -- NY065 -- 2912 03/30/92 12:53 EST
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Publication:PR Newswire
Date:Mar 30, 1992
Words:273
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