BTG Announces First Quarter 1998 Earnings Results.

ISELIN, N.J.--(BUSINESS WIRE)--April 21, 1998--

Oxandrin(R) Sales Grow 71%, Prescriptions Up 105%

Net Income of $3.4 Million, or $0.07 per Share

Bio-Technology General Corp. (NASDAQ:BTGC) today announced its earnings and financial results for the first quarter of 1998. Total revenues grew 18% to $17.4 million, compared to $14.8 million in the first quarter of 1997. Oxandrin sales increased 71%, coupled to a 105% increase in total prescriptions in the first quarter of 1998, as compared with the first quarter of 1997. Oxandrin's dramatic growth was partly offset by declines in first quarter sales of human growth hormone and BioLon(tm). The declines reflect seasonal changes in purchasing patterns for these two products, which are projected to grow on a full year basis. Given the mix of Oxandrin's growth and sales declines in human growth hormone and BioLon, revenues from product sales increased 9% in the first quarter of 1998 to $15.7 million, compared to $14.4 million in 1997. Net income for the first quarter of 1998 was $3.4 million, or $0.07 per share (diluted), equalling net income and earnings per share (dilute d) in the comparable 1997 quarter. Expenses for the first quarter of 1998 were $12.6 million, compared to $10.2 million in 1997. Expense growth outstripped revenue growth this quarter as a result of the acceleration of clinical and Phase IV activities, and an increase in marketing and sales expenses arising from the addition of new sales personnel and the expansion of promotional activities for the Company's marketed products.

Commenting on the first quarter 1998 results, Sim Fass, BTG's Chairman, President and CEO stated: "We continue to make good progress, achieving increases in both product sales and revenues. We are especially pleased with Oxandrin's continued vigorous prescription and sales growth. As we work toward additional market penetration, broader distribution of our marketed products, and obtaining approvals to market other products being developed by the Company, we expect to see a further positive impact on our net earnings despite flat first quarter income performance."

Bio-Technology General Corp. develops, manufactures and markets genetically engineered and other products for human health care. -0- Statements in this news release concerning the Company's business outlook or future economic performance; anticipated profitability, revenues, expenses or other financial items; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements" as that term is defined under the Federal Securities Laws. Forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and factors include, but are not limited to, changes and delays in product development plans and schedules, customer acceptance of new products, changes in pricing or other actions by competitors, patents owned by the Company and its competitors, and general economic conditions, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission. -0-

                CONSOLIDATED STATEMENTS OF OPERATIONS
                           (Unaudited)
                 (in thousands except per share data)

                                    Three Months Ended March 31
                                           1998      1997
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Revenues:
  Product sales                          $15,736   $14,379
  Contract fees                            1,004       116
  Other                                      700       270
                                          17,440    14,765

Expenses:
  Research and development                 5,256     3,940
  Cost of product sales                    2,518     2,269
  General and administrative               2,052     1,936
  Marketing and sales                      2,647     1,886
  Other                                      147       147
                                          12,620    10,178

Income before income taxes                 4,820     4,587

Income taxes                               1,455     1,192

Net income                               $ 3,365   $ 3,395

Earnings per common share:
  Basic                                  $  0.07   $  0.07
  Diluted                                $  0.07   $  0.07

Weighted average number of
 shares outstanding:
  Basic                                   47,318    46,284
  Diluted                                 50,941    52,138

CONTACT: Investor Relations

Don Weinberger

STRATEGIC GROWTH INTERNATIONAL

516-829-7111

OR

Leah Berkovits

BIO-TECHNOLOGY GENERAL CORP.

732-632-8800