Corporate Profile for Flemington Pharmaceutical Corp., dated Friday, July 17, 1998.

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Published Date:   Friday, July 17, 1998

Company Name:     Flemington Pharmaceutical Corp.

Address:          43 Emery Ave.
                  Flemington, N.J., 08822

Main Telephone
 Number:          908/782-3431
 Fax:             908/782-2445

Chief Executive
 Officer:         H.A. Dugger III

Chief Financial
 Officer:         D.J. Deitman

Investor Relations
 Contact:         Sharon Will, Saggi Capital Corp.
 Business number: 212/572-0762
 Fax:             212-572-0764

Public Relations
 Contact:         Sharon Will, Saggi Capital Corp.
 Business number: 212/572-0762
 Fax:             212/572-0764

Trading Symbol/
 Exchange:        FLEM  FLEMW

Industry:         Drug Delivery

Company description: Flemington Pharmaceutical Corp., a New Jersey corporation, is engaged in the development of novel application drug delivery systems for presently marketed prescription and over-the-counter drugs. The novel delivery systems include lingual sprays and soft gelatin bite capsules. The company believes that these delivery systems offer (i) improved drug safety by reducing the required dosage, therefore, reducing side effects; (ii) improved dosage reliability; (iii) improved patient convenience and compliance; and (iv) enhanced dosage reliability.

Since its inception in 1982, the company has been a consultant to the pharmaceutical industry, focusing on product development activities of various foreign based pharmaceutical companies, and since 1992 has used its consulting revenues to fund its own product development activities. To date, substantially all of the company's revenues have been derived from its consulting activities.

The company has identified presently marketed drugs with significant prescription or OTC sales that meet the company's criteria for its drug delivery systems and plans to develop such products through collaborate arrangements with major pharmaceutical companies, which will fund that development. The company has signed two such development agreements with major pharmaceutical companies.

The company's initial public offering was November 19, 1997.

                         Years Ended July 31,      Nine Months Ended
                           1996           1997        April 30, 1998

Annual Sales         $3,472,000(a)   $ 915,000          $  645,000
Net income (loss)    $  494,000      $(411,000)         $ (479,000)

(a) Non-recurring consulting fee of approximately $2,070,000
having related costs and expenses of approximately $1,606,000.

Stock Prices: High: 9 1/8, Nov. 20, 1997
              Low:  7/8, March 12, 1998

CONTACT: Flemington Pharmaceutical Corp., Flemington, N.J.