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IGI 1991 REVENUE UP 10 PERCENT; ADVANCES CITED IN LIPOSOME DEVELOPMENTS

IGI 1991 REVENUE UP 10 PERCENT; ADVANCES CITED IN LIPOSOME DEVELOPMENTS
 VINELAND, N.J., March 26 /PRNewswire/ -- IGI, Inc. (AMEX: IG) today said revenue for 1991 rose 10 percent to $22,008,644 vs. $20,055,849 a year ago, while net income remained largely unchanged at 1 cent a share, due to the company's continuing strategy of funding development of its microencapsulation technologies with profits from its core businesses.
 The company also announced that it has recently signed a cooperative research and development agreement with the U.S. Army for work on a number of vaccines for various human diseases using IGI's Novasome(TM) lipid vesicle antigen carrier adjuvant system. This work will be carried out by the company's Lipovax subsidiary headed by Dr. Edmund C. Tramont.
 Net income in 1991 was $61,416, or 1 cent a share, as compared with $30,578, or 1 cent a share, for 1990.
 The company said international sales were 26 percent ahead of last year. Poultry vaccine sales were up 8 percent vs. a year ago, partially due to introduction of a new vaccine containing eight different virus strains. Sales to data of that product have exceeded initial expectations.
 Sales of prescription companion pet products, were up slightly for the year despite depressed market conditions. The over-the-counter pet products segment posted a revenue gain of 10 percent for the year partially owing to introduction of several new Novasome(TM)-based products.
 Research and development, production, clinical evaluation, and further product applications continue as planned at Micro Vesicular Systems, Inc. (MVS), IGI's majority-owned subsidiary.
 IGI, Inc. is a diversified, profitable biotechnology company. Its majority-owned subsidiary, Micro Vesicular Systems, Inc., has created patented technologies for lipid vesicle (Novasome) microencapsulation and biodegradable hydrogels (Ultrasponge/TM/). These are being developed for a variety of commercial applications including pharmaceuticals, human vaccines, blood cell substitutes, cosmetics and personal care products.
 Lipovax Inc. and Blood Cells, Inc. are majority-owned subsidiaries involved in the development of human vaccines and blood cell substitutes, respectively. Vineland Laboratories, EVSCO Pharmaceuticals, and Tomlyn Products are divisions which produce and sell, respectively, poultry vaccines, small animal pharmaceuticals and pet care products worldwide.
 Note: Novasome and Ultrasponge are trademarks of a subsidiary of IGI, Inc.
 -0- 3/26/92
 /CONTACT: Michael Dodge of IGI, 609-691-2411, or Thomas Redington of Redington Inc., 203-222-7399, or 212-926-1733, for IGI/
 /FIRST AND FINAL ADD -- TABULAR MATERIAL -- TO FOLLOW/
 (IG) CO: IGI, Inc. ST: New Jersey IN: MTC SU: ERN


CK-OS -- NY051 -- 1980 03/26/92 12:35 EST
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Publication:PR Newswire
Date:Mar 26, 1992
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