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R.P. SCHERER ANNOUNCES AGREEMENT TO SELL PACO TERMINATED

 R.P. SCHERER ANNOUNCES AGREEMENT TO SELL PACO TERMINATED
 TROY, Mich., March 26 /PRNewswire/ -- R.P. Scherer Corporation


(NYSE: SHR) said today that it has exercised its option to terminate the previously announced agreement to sell its wholly owned subsidiary, Paco Pharmaceutical Services, Inc. Scherer also said it would continue to explore its strategic alternatives with respect to Paco. Russell Haines will continue in his current position as Paco's chairman and chief executive officer.
 Paco, located in Lakewood, N.J., is a leading contract packager and manufacturer of pharmaceutical and consumer products. Paco's revenues and operating income for the nine months ended Dec. 31, 1991, were $51.3 million and $6 million, up 41 percent and 69 percent respectively, from the revenues and operating income of $36.3 million and $3.5 million for the nine months ended Dec. 31, 1990. The above figures are unaudited.
 R.P. Scherer Corporation, a leading international developer and manufacturer of drug delivery systems, is the world's largest producer of soft gelatin capsules ("softgels"). The company is also currently developing and commercializing advanced drug delivery systems, including the Scherersol(R), Zydis(R) and Pulsincap(TM) technologies. The company's proprietary drug delivery systems improve the efficacy of drugs by regulating their dosage, rate of absorption and place of release. The company operates a global network of 15 facilities in 11 countries.
 -0- 3/26/92
 /CONTACT: Alex Erdeljan of R.P. Scherer Corporation, 313-649-0900/
 (SHR) CO: R.P. Scherer Corporation; Paco Pharmaceutical Services, Inc. ST: Michigan, New Jersey IN: MTC SU:


SB -- DE026 -- 2168 03/26/92 17:09 EST
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Publication:PR Newswire
Date:Mar 26, 1992
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