Bradley Pharmaceuticals Reports Third Quarter Earnings.

FAIRFIELD, N.J.--(BUSINESS WIRE)--October 27, 1998--BRADLEY PHARMACEUTICALS, INC. (NASDAQ NMS: BPRX) today announced a loss of $465,000 or $0.06 per share for the Third Quarter ended September 30, 1998. These results compare with earnings of $209,000 and $0.03 per share (diluted) for the corresponding period last year. Net sales for the Third Quarter 1998 were approximately $2.5 million.

Earnings for the First Nine Months ended September 30, 1998 reached $117,000, or $0.01 per share, compared with $551,000, or $0.07 per share for the same period the prior year. Net Sales for the First Nine Months 1998 amounted to approximately $10.4 million versus $10.8 million the same period last year.

Chairman and Chief Executive Officer, Daniel Glassman stated, "Bradley's Third Quarter performance was negatively impacted by increased wholesaler stocking programs which occurred during the Second Quarter 1998 as well as slower than expected movement of the Company's key brands during this year's especially slower summer months. Doak Dermatologics continued its growth as sales exceeded prior year Nine Month results by 13%, led mainly by the Carmol(R), Acid Mantle(R) and Formula 405(R) brands. Kenwood Laboratories sales for the Nine Months 1998 decreased 14% from the same period the prior year as the Deconamine(R) line of cough cold remedies performed less than expected during the summer season.

The recent acquisition of Brontex(R) severe cough therapy from Procter & Gamble will contribute to our already solid base in the respiratory market with which the Company expects to expand current sales and marketing activities to ensure proper lifecycle management of the brand. Leading into the traditionally strong cough/cold season, Deconamine(R) and Brontex(R) promotion will be complemented with the recently launched ENTsol(tm) Hypertonic Nasal Wash system (www.entsolwash.com) which is designed for the drug-free treatment of sinusitus. Our primary strategy of Acquire, Enhance and Grow will continue as appropriate niche products become available in the respiratory and dermatology markets."

BRADLEY PHARMACEUTICALS, INC. manufactures and markets brandname products and over-the-counter pharmaceuticals and health-related products throughout the United States as well as in more than 25 international markets. Bradley Common A Shares (BPRX) are traded on the NASDAQ National Market System.

Please visit our website at www.bradpharm.com

This release may contain forward-looking statements which reflect management's current views of future events and operations. These forward-looking statements are based on assumptions and external factors, including assumptions relating to regulatory action, capital requirements and competing products. Any changes in such assumptions are external factors and could produce significantly different results. -0-

                     BRADLEY PHARMACEUTICALS, INC.
                        CONDENSED CONSOLIDATED
                       STATEMENTS OF OPERATIONS
                              (UNAUDITED)

                       Three Months Ended         Nine Months Ended
                          September 30,             September 30,
                        1998         1997         1998         1997


Net sales           $ 2,463,228  $ 3,454,575  $10,392,630  $10,828,545
Cost of sales           882,061    1,035,072    3,216,464    2,842,448
                      ---------    ---------   ----------   ----------
                      1,581,167    2,419,503    7,176,166    7,986,097

Selling, general and
 administrative
  expenses            2,023,555    1,743,089    6,072,006    5,754,899
Depreciation and
 amortization           265,612      385,110      803,759    1,191,174
Interest expense
 - net                   31,187       72,304      114,857      254,904
                      ---------    ---------    ---------    ---------
                      2,320,354    2,200,503    6,990,622    7,200,977

Income before income
 taxes                 (739,187)     219,000      185,544      785,120

Income tax provision   (274,000)      10,000       68,000      233,750
                      ---------    ---------    ---------    ---------

Net income          $  (465,187) $   209,000  $   117,544  $   551,370
                      ---------    ---------    ---------    ---------

Net income per
 common share
  Basic             $    (0.06)  $      0.03  $      0.01  $      0.07
                      =========    =========    =========    =========
  Diluted           $    (0.06)  $      0.03  $      0.01  $      0.07
                      =========    =========    =========    =========

Weighted average
 number of
  common shares
  Basic              8,420,000     8,240,000    8,430,000    8,280,000
                      ========     =========    =========    =========
 Diluted             8,420,000     8,300,000    9,160,000    8,300,000
                      ========     =========    =========    =========