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CENTOCOR REPORTS RESULTS

 CENTOCOR REPORTS RESULTS
 MALVERN, Pa., Feb. 19 /PRNewswire/ -- Centocor, Inc. (NASDAQ: CNTO)


today reported a loss of $44.2 million, or $1.19 per share, for the fourth quarter ended Dec. 31, 1991.
 Product sales in the quarter increased 76 percent over those of the year-earlier quarter to $14.1 million, primarily because of sales of HA-1A(TM) in certain European countries. HA-1A, tradenamed Centoxin(R) in Europe, is a human monoclonal antibody directed against the life-threatening endotoxin of gram negative bacteria.
 In the fourth quarter of 1990, Centocor recorded a loss of $132.3 million, or $4.74 per share. The loss in the year-earlier quarter included a pretax charge to earnings of $115.5 million for acquired research and development in connection with Centocor's decision to purchase the limited partners' interests in Centocor Cardiovascular Imaging Partners, L.P. and Centocor Partners II, L.P. Product sales in the year-earlier quarter were $8 million.
 "During the fourth quarter of 1991, we continued to expand our global commercialization capabilities, particularly in marketing and sales," said James E. Wavle Jr., president and chief executive officer of Centocor. "In addition, we intensified our research-and-development efforts so that we can meet our goal of filing three therapeutic product license applications over the next two years."
 For the year ended Dec. 31, 1991, Centocor reported a loss of $195.6 million, or $5.72 per share. The loss included a pretax charge to earnings of $70.1 million for acquired research-and-development in connection with the company's acquisition of the callable common stock of Tocor, Inc. In 1990, Centocor had a loss of $132.2 million or $5.10 per share. Product sales in 1991 were $44.3 million, up 35 percent from $32.9 million a year earlier.
 The company further reported that the Food and Drug Administration has raised additional issues concerning its product license application for HA-1A. Based upon its current understanding of the facts and issues, the company said it believes these issues should be resolved satisfactorily; however, if not, this could have a material adverse effect on the application and the company.
 The company also reported it has filed suit against Xoma Corporation (NASDAQ: XOMA) and Pfizer, Inc. (NYSE: PFE) alleging infringement of a patent which was granted to Centocor in October 1991. The lawsuit, filed in the U.S. District Court for the District of Delaware, asserts that Xoma and Pfizer infringe Centocor's patent by making and using E5, a mouse monoclonal antibody that embodies subject matter claimed in the patent. The patent at issue includes claims relating to monoclonal antibodies used in treating clinical manifestations of gram negative bacterial infections, to pharmaceutical compositions comprising such antibodies, and to a method of treating infections with such pharmaceutical compositions.
 Centocor, Inc., based in Malvern, develops, manufactures, and markets diagnostic and pharmaceutical products for human health care. The company's products are based on monoclonal antibody technology and are primarily intended for use in the management of patients with infectious, cardiovascular, and autoimmune diseases and cancer.
 CENTOCOR, INC.
 (in thousands except for per share data)
 Periods ended Three Months Year
 Dec. 31 1991 1990 1991 1990
 Revenues:
 Sales $14,086 $ 7,998 $ 44,328 $ 32,863
 Contracts 3,490 9,040 8,869 31,771
 Total 17,576 17,038 53,197 64,634
 Cost and expenses 60,003 155,529 247,151 217,966
 Other income expense (1,772) 2,007 (1,601) 18,952
 (Loss) income before
 income taxes (44,199) (136,484) (195,555) (134,380)
 Net (loss) income (44,199) (132,334) (195,555) (132,180)
 Net (loss) income per
 share $(1.19) $(4.74) $(5.72) $(5.10)
 Weighted average shares
 outstanding 37,216 27,904 34,172 25,930
 /delval/
 -0- 2/19/92
 /CONTACT: Richard M. Koenig of Centocor, 215-651-6122/
 (CNTO XOMA PFE) CO: Centocor, Inc.; Tocor, Inc.; Xoma Corporation; Pfizer, Inc. ST: Pennsylvania IN: MTC SU: ERN


LJ -- PH007 -- 0276 02/19/92 08:56 EST
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Date:Feb 19, 1992
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