Biopharmaceutics Announces Record Third Quarter Profits.

BELLPORT, N.Y.--(BUSINESS WIRE)--August 13, 1997-- Biopharmaceutics Inc. announced today that revenue for the quarter ended June 30, 1997 increased 61.6% to $1,884,000 compared to revenue of $1,166,000 in the third fiscal quarter of 1996. Earnings for the third fiscal quarter of 1997 increased to $255,000 as compared to $1,500 for the third fiscal quarter of 1996.

Revenues for the nine months ended June 30, 1997 rose 106.6% to $4,644,000 compared to $2,248,000 for the nine month period in 1996. Earnings for the nine months ended June 30, 1997 were $287,000 compared to a loss of $802,000 for the nine months ended June 30, 1996. Quarterly results take into account revenues for the month of June from Caribbean Medical Testing Center Inc. of $632,000. Caribbean Medical Testing Center Inc. as previously announced is being acquired by Briopharmaceutics Inc.

Company President, Edward Fine, stated, "We are very pleased with our results for the quarter. The benefits of our acquisition of Caribbean Medical Testing Center Inc. (CMT) are already having an impact on our results. CMT is currently negotiating several additional contracts and hopes to have at least one new contract signed by the end of August. Consolidated revenues for the company in the month of July reached a record of approximately $1,100,000. The final transfer of CMT shares is scheduled to take place no later than September 15th. The company continues to seek out potential acquisitions that meet our goals of increasing sales and profits at favorable financial terms." -0-

                             Three Months Ended       Nine Months Ended
                                   June 30                 June 30
                              1997        1996        1997        1996

Revenues                   $1,884,000  $1,165,917  $4,644,000  $2,248,000
Net Earnings (Loss)           255,000       1,500     287,000    (802,000)
Earnings (loss) per share         .02         .00         .03        (.10)
Average Shares Outstanding 10,540,284   9,801,998  10,540,285   8,118,183

Please note that Average shares outstanding have been adjusted to reflect a 1-4 reverse stock split affected June 25th, 1997.

CONTACT: Biopharmaceutics Inc., Bellport

Stuart Fine, 516/286-5800