Columbia Laboratories reports nine month results.

MIAMI--(BUSINESS WIRE)--Oct. 30, 1995--Columbia Laboratories Inc. (ASE:COB) Monday reported net income of $2,748,781, or 11 cents per share, for the nine months ended Sept. 30, 1995, as compared to a loss of $8,098,347, or 36 cents per share, for the comparable 1994 period.

Sales for the nine month period ended Sept. 30, 1995 increased to $7,970,001 as compared to $6,735,181 in 1994. The 1995 results include $8 million of license fees received from Wyeth-Ayerst.

For the three months ended Sept. 30, 1995, the company reported a net loss of $2,459,314, or 10 cents per share, as compared to a loss of $2,527,386, or 11 cents per share, for the comparable 1994 period. Sales for the three month period ended Sept. 30, 1995 were $1,886,135 as compared to $2,857,449 in 1994.

In May 1995, Columbia announced the signing of a worldwide license and supply agreement with American Home Products Corp. (NYSE:AHP) under which the Wyeth-Ayerst division of AHP will market Crinone(tm)-TVG, Columbia's sustained release, vaginally delivered, natural progesterone product. Columbia expects Wyeth-Ayerst to launch the product in several European countries during the second quarter of 1996. Premarketing activities are currently underway. The filing of a New Drug Application for Crinone-TVG in the United States is on track for early next year.

Columbia Laboratories Inc. is a U.S.-based international pharmaceutical company, dedicated to the development of women's prescription and over-the-counter products, including those which help prevent sexually transmitted diseases. Columbia's products primarily utilize the company's patented bioadhesive delivery technology. -0-

             COLUMBIA LABORATORIES INC. AND SUBSIDIARIES
                CONSOLIDATED STATEMENTS OF OPERATIONS
                            (Unaudited)

                      Nine Months Ended      Three Months Ended
                          Sept. 30,              Sept. 30,
                      1995        1994         1995         1994
                      ----        ----         ----         ----
NET SALES          $7,970,001  $6,735,181   $1,886,135   $2,857,449
COST OF GOODS
 SOLD               4,099,040   3,437,705      902,026    1,408,617
  Gross profit      3,870,961   3,297,476      984,109    1,448,832

OPERATING EXPENSES:
 Selling and
  distribution      2,283,150   1,539,068      834,687      461,501
 General and
  administrative    2,273,295   2,298,058      701,241      724,747
 Research and
  development       4,671,182   6,475,016    1,946,097    2,387,594
   Total operating
    expenses        9,227,627  10,312,142    3,482,025    3,573,842

   Loss from
    operations     (5,356,666) (7,014,666)  (2,497,916)  (2,125,010)

OTHER INCOME
 (EXPENSE):
 License fees       8,054,883      60,464        --          --
 Interest income       99,167      43,341       58,962        6,197
 Interest expense    (166,824) (1,081,971)     (26,074)    (367,903)
 Other, net           118,221    (105,515)       5,714      (40,670)
                    8,105,447  (1,083,681)      38,602     (402,376)

  Net income
   (loss)          $2,748,781 $(8,098,347) $(2,459,314) $(2,527,386)

NET LOSS PER
 COMMON SHARE      $      .11 $      (.36) $      (.10) $      (.11)

WEIGHTED AVERAGE
 NUMBER OF
 COMMON SHARES
 OUTSTANDING       25,326,000  22,231,000   25,726,000   22,294,000

CONTACT: Columbia Laboratories Inc., Miami

Margaret J. Roell, Chief Financial Officer

305/860-1692