Bradley Pharmaceuticals reports second quarter 1995 results.

FAIRFIELD, N.J.--(BUSINESS WIRE)--Aug. 8, 1995--Bradley Pharmaceuticals Inc. (NASDAQ/NM:BPRXA) Tuesday announced that net sales for second quarter ended June 30, 1995 increased to $4.5 million, up significantly from first quarter 1995 net sales of $3.0 million and also up compared to second quarter 1994 net sales of $4.4 million. Net income for the second quarter 1995 was $206,000 or $0.02 per share compared to a net loss of ($1.0) million or ($0.14) per share in the first quarter 1995 and net income of $800,000 or $0.06 per share for the second quarter 1994.

Net sales for the six months ended June 30, 1995 were $7.4 million with a net loss of ($800,000) or ($0.11) per share as compared to net sales of $9.3 million and net income of $2.3 million or $0.16 per share for the first six months of 1994. Although 1995 second quarter net sales and net income recovered substantially from first quarter 1995, the company's six months results reflect the impact of a mild cold and cough season during the first quarter of 1995 which negatively affected net income contribution of the antihistamine/decongestant, Deconamine(r), the company's largest selling product. In addition, first half 1995 results reflected the impact of chargebacks and rebates associated with managed care pharmaceutical product usage, common in the current drug industry. While unit volume demand for the company's products is increasing, chargebacks and rebates primarily associated with Deconamine, were higher than reflected in previous quarters. The company also continued to expand promotion via its growing sales force and through magazine and direct mail advertising as well as sampling, the results of which, management believes, may well be felt in later quarters.

Bradley Pharmaceuticals' management fully expects the company to continue its strong resurgence, and is endeavoring to do everything possible to facilitate this growth, from maintaining the corporation's unique, niche-oriented strategy, to increasing strategic alliance and acquisition activities as well as strengthening capabilities in product research and development.

As an example of this growth-related activity, in the second quarter 1995, Bradley Pharmaceuticals acquired an approximate 17 percent interest in ITG Laboratories Inc. ITG is a successful healthcare product research company with headquarters in Atherton, Calif., and in Yavne, Israel. At the same time, Bradley Pharmaceuticals also was named the exclusive United States distributor for the ITG line of Omiderm(tm) wound dressings currently in limited distribution in the United States. Omiderm is a clinically proven, unique wound dressing line which allows permeability of water, oxygen and aqueous medications, while maintaining a sterile environment for healing by preventing microbial invasion. Daniel Glassman, CEO and Chairman of the Board, announced that "Omiderm wound dressings will be sold through a newly established Wound Care Division of Doak Dermatologics, a subsidiary of Bradley Pharmaceuticals Inc. This equity interest in ITG Laboratories provides Bradley Pharmaceuticals with immediate business opportunities as well as future products as they proceed through Federal approvals."

In addition, during the second quarter 1995, Bradley management announced that the company had signed a letter of intent with Block Drug Corporation to acquire the former 112,000 square foot Reed & Carnick headquarters, laboratory, manufacturing and warehouse site located on 15 acres in Piscataway, N.J. The complex will provide Bradley Pharmaceuticals with extensive facilities which support the company's strategies for short term and long term needs for its increasing sales levels. The complex includes 12,000 square feet of existing laboratory facilities which will be devoted to expanded research and development of new products.

Bradley Pharmaceuticals Inc. markets and manufactures brandname prescription and over-the-counter pharmaceutical and health-related products, including respiratory, dermatologic, nutrition, personal hygiene and internal medicine brands. Bradley Common Class A Shares, and Bradley Class A, B, and D Warrants (BPRXA, BPRXW, BPRXZ and BPRXL, respectively) are traded on the Nasdaq National Market System.

                     Bradley Pharmaceuticals Inc.
          Condensed Consolidated Statements of Operations
                              (Unaudited)

                         Three Months Ended       Six Months Ended
                              June 30,                June 30,
                         1995          1994         1995         1994
Net sales          $4,461,041    $4,371,589   $7,417,771   $9,274,184
Cost of sales         979,623       853,427    2,138,912    1,786,152
                    3,481,418     3,518,162    5,278,859    7,488,032

Selling, general
  and administrative
  expense           2,640,218     1,772,383    5,474,654    3,284,565
Depreciation and
  amortization        424,315       376,881      845,037      718,305
Interest expense, net 107,593       197,687      255,249      381,325
                   $3,172,126    $2,346,951   $6,574,940   $4,384,195

Income (loss) before
  income taxes and
  minority interest   309,292     1,171,211   (1,296,081)   3,103,837
Income tax (expense)
  benefit            (103,149)     (390,000)     539,000     (847,000)
Minority interest in
  subsidiary's loss       --         18,919         --          3,438

Net income (loss)    $206,143      $800,130    ($757,081)  $2,260,275

Net income (loss) per
  common share (1)      $0.02         $0.06       ($0.11)       $0.16

(1) Computation of net income per common share for the three and six
months ended June 30, 1994 and for three months ended June 30, 1995
were computed using the modified treasury stock method.  Computation
of net loss per common share for the six months ended June 30, 1995
does not include the effect of the stock equivalents because the
inclusion of such stock equivalents would be antidilutive.

CONTACT: South Coast Communications Group

Rene Caron (Investor Relations), 714/252-8440

or

Bradley Pharmaceuticals Inc.

Alan V. Gallantar, 201/882-1505, ext. 266