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SPI PHARMACEUTICALS RECEIVES LICENSE FROM UNITED NATIONS TO SHIP MATERIALS TO YUGOSLAVIA

 SPI PHARMACEUTICALS RECEIVES LICENSE FROM
 UNITED NATIONS TO SHIP MATERIALS TO YUGOSLAVIA
 COSTA MESA, Calif., Sept. 18 /PRNewswire/ -- In response to inquiries concerning the status of its business operations in Yugoslavia, SPI Pharmaceuticals Inc. (AMEX: SPI) said today that it and a number of its major suppliers have received licenses from the United Nations and the U.S. government and other governments that will allow shipment of pharmaceutical raw material into Yugoslavia for the production of medicines.
 United Nations economic sanctions against Yugoslavia exempt importation of medicines and require that suppliers to ICN Galenika, SPI's Yugoslav venture company, apply for and receive licenses from the United Nations, the United States and countries of shipment origination. At present, some major pharmaceutical suppliers to ICN Galenika have received these licenses, and SPI and other suppliers will continue to pursue additional licenses for future shipments to allow pharmaceutical production for humanitarian purposes. Management continues to monitor this situation on a day-to-day basis.
 Approximately 85 percent of ICN Galenika's revenues are derived from the sale of prescription pharmaceuticals in the domestic market. The company said it is presently reviewing its strategy for export of finished pharmaceutical production to countries outside of Yugoslavia.
 SPI said that its other business units outside of Yugoslavia continue to operate on plan and that it expects total SPI sales in 1992 will be well in excess of last year's sales.
 -0- 9/18/92
 /CONTACT: Jack Sholl of SPI Pharmaceuticals, 714-545-0100, ext. 3013/
 (SPI) CO: SPI Pharmaceuticals Inc.; ICN Galenika ST: California IN: MTC SU:


LS-KJ -- LA004 -- 0990 09/18/92 09:15 EDT
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Publication:PR Newswire
Date:Sep 18, 1992
Words:265
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