Biopharmaceutics, Inc. reports first quarter profit.

BELLPORT, N.Y.--(BUSINESS WIRE)--Feb. 3, 1997-- Biopharmaceutics, Inc. (BOPH:OTCBB) announced today that sales for the quarter ended December 31, 1996 increased 174% to $1,259,000 compared to sales of $457,000 in the December 31, 1995 quarter.

The company had net profits of $15,000 for the quarter ended December 31, 1996 compared to a loss of $465,000 in the quarter ended December 31, 1995.

Commenting on the results of the first quarter and future prospects, Edward Fine, president of Biopharmaceutics, said, "We are very pleased that since acquiring the feminine hygiene product line we have had three consecutive quarters of profits. Although the profits have not been large, they reverse a trend of consistent losses incurred by the company. During the last nine months, the company's goal was to stabilize it's sales, income and cash flow to create a platform for future growth.

"We believe we have now accomplished this goal. For the current year our goal is to continue to improve our operating margins and sales and to expand our customer base. To that end, we have begun to introduce our first six new products which have been under development during the last four months. The company's joint venture with ABS Group (ADBS:OTCBB) is progressing.

"We anticipate being able to file for a treatment IND with the Food and Drug Administration (FDA) for Mitolactol(R) by year end. A treatment IND would allow the joint venture to sell Mitolactol on a limited basis to doctors who requested use of the drug, prior to its obtaining full FDA approval." -0-

                                    Three Months Ended December 31,
                                    (000's Omitted, Except for EPS)
                                             1996            1995

    Sales                                  $1,259            $457
    Net Income (loss)                          15            (465)
    Income per Share (loss)                   .00            (.02)
    Average Shares Outstanding         40,657,350           27,072

Biopharmaceutics, Inc, is a company that specializes in contract pharmaceutical manufacturing and marketing of feminine hygiene and family planning products with the brand names Vaginex(R), Koromex(R), Koroflex(R), and Feminique(R). It is also involved in a joint venture with ABS Group, Inc. to commercialize the brain and cervical cancer drug, Mitolactol(R).

CONTACT: Biopharmaceutics Inc., Bellport

Stuart Fine, [phone]