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HCG ISSUES BUY RECOMMENDATION ON BELMAC

 HCG ISSUES BUY RECOMMENDATION ON BELMAC
 TAMPA, Fla., March 26 /PRNewswire/ -- Healthcare Capital Group's


analyst Michael Harshbarger initiates coverage on Belmac Corporation (AMEX: BLM) with a strong buy recommendation for risk-oriented investors. He projects EPS of $(0.80), $0.75, $2.00 and $4.00 for fiscal years (June) 1992-1995 respectively, which excludes the impact of drugs which are not currently being marketed. Harshbarger places a target value for the stock at $30 within the next nine months (currently trading at $14.75).
 Belmac has three major drug opportunities -- the first of which is a new form of the widely utilized parent macrolide, erythromycin. This first product (Biolid) was recently launched in France (a $200MM macrolide market in itself) and should generate up to $300MM in worldwide sales by June 1995. Biolid addresses the current limitations of erythromycin including poor absorption (300 percent better absorbed) and side effects (3 percent vs. over 20 percent), while maintaining the safety and spectrum of activity that account for the drug's success and longevity. The profile of Biolid, in conjunction with a rapidly expanding market for Macrolides (from $1.7 billion to $4 billion in 1995) yields a major opportunity for a small pharmaceutical company.
 To implement their aggressive business plan, Belmac has recruited a blue chip management team in both marketing (to lead the launch of Biolid), and R&D (to continue the development of the company's other three core products). The most significant drug in Belmac's R&D pipeline is a broad spectrum Mycobacterial licensed from the National Jewish Center which has shown both in vivo and in vitro efficacy against M.avium complex, M. intracellulare, and M.tuberculosis. Although currently in the pre-clinical phase, this drug has fast track potential if it proves effective in humans.
 Healthcare Capital Group (New York, Chicago), through its affiliates, is a registered broker dealer which provides institutional research coverage and private placement financings for emerging medical product and service companies.
 -0- 3/26/92
 /CONTACT: Healthcare Capital Group, 708-377-0084/
 (BLM) CO: Belmac Corporation; Healthcare Capital Group ST: Florida IN: MTC SU:


SS-AW -- FL008 -- 1989 03/26/92 12:47 EST
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Date:Mar 26, 1992
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