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MEDCO RESEARCH REPORTS FIRST QUARTER FINANCIAL RESULTS

 LOS ANGELES, May 14 /PRNewswire/ -- Medco Research, Inc. (AMEX: MRE) announced today operating results for the first quarter of 1993.
 MEDCO RESEARCH, INC.
 (In thousands except per share data)
 First quarter 1993 1992
 Total revenues $1,922 $1,590
 Total expenses 2,866 1,070
 Net income (loss) $ (945) $ 469
 Per share $(0.08) $ 0.04
 Weighted average shares 11,175 10,941
 Royalty revenue increased 13 percent over the first quarter of 1992. Adenocard(R) sales in the United States by Medco's North American licensee, Fujisawa USA, Inc., were $5.7 million in the first quarter of 1993, as compared to $5.0 million in the year-earlier period. Investment income increased 55 percent and resulted from the investment of the proceeds of Medco's successful public stock offering in late January 1992. Working capital plus investments are in excess of $47 million.
 Increased expenses reflect the planned acceleration of research and development in support of the company's product portfolio activity and the recruitment of additional scientific, administrative and support personnel which commenced during the second quarter of 1992. Research and development costs were $1.2 million for the current year's first quarter, up from less than $200,000 during the year-earlier period.
 Medco Research, Inc., is a pharmaceutical company engaged in the acquisition, research and development of new prescription drugs for the diagnosis or treatment of certain cardiovascular diseases and cancer.
 -0- 5/14/93
 /CONTACT: Archie W. Prestayko, Ph.D., of Medco Research, 213-966-4148; or Fredric J. Spar of Kekst and Company, 212-593-2655, for Medco Research/
 (MRE)


CO: Medco Research, Inc. ST: California IN: HEA SU: ERN

TS-GK -- NY021 -- 8530 05/14/93 09:49 EDT
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Publication:PR Newswire
Date:May 14, 1993
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