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APPLIED BIOSCIENCE INTERNATIONAL MERGES WITH PHARMACO DYNAMICS RESEARCH

APPLIED BIOSCIENCE INTERNATIONAL MERGES WITH PHARMACO DYNAMICS RESEARCH
 NEW YORK, Feb. 28 /PRNewswire/ -- Kenneth H. Harper, chairman and chief executive officer of Applied Bioscience International Inc. (NASDAQ: APBI), and Richard J. Hawkins, president and chief executive officer of Pharmaco Dynamics Research, Inc., announced today the confirmation of the pending merger between APBI and Pharmaco, following special meetings in New York City and Austin, Texas, at which the shareholders of APBI and Pharmaco, respectively, voted to approve the merger of the two companies.
 Pursuant to the merger, the shareholders of Pharmaco, which is privately held, are receiving approximately 2,900,000 shares of APBI common stock, which results in such shareholders holding approximately 20 percent of the outstanding shares of APBI. The transaction will be accounted for as a pooling of interests.
 Pharmaco, which is headquartered in Austin and is one of the world's leading companies in its field, provides contract clinical research, analytical chemistry and related services to the international pharmaceutical, biotechnology and medical device industries.
 APBI provides a broad range of inter-related services, which include biological safety testing, clinical research and development, agrochemical research and development, and the assessment and management of environmental risk. The company provides such services under contract to clients in the pharmaceutical, general chemical, agrochemical, nutritional and other industries throughout the world.
 Kenneth H. Harper, chairman, stated, "The addition of Pharamco to APBI represents a further implementation of the strategic development plan for our company. We believe the combination of scientific know-how and expertise achieved through the merger will establish APBI as one of two market leaders capable of providing a comprehensive spectrum of research and development services for the pharmaceutical and biotechnology industries worldwide."
 -0- 2/28/92
 /CONTACT: John Timoney, vice president and CFO of APBI, 908-873-2550; or John McNamara of John McNamara Advertising, 212-509-7779, for APBI/
 (APBI) CO: Applied Bioscience International Inc.; Pharmaco Dynamics Research,
 Inc. ST: New Jersey, Texas IN: CHM SU: TNM


GK -- NY049 -- 3777 02/28/92 14:22 EST
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Publication:PR Newswire
Date:Feb 28, 1992
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