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BELMAC ACQUIRES RIMAFAR, S.A. IN SPAIN; PHARMACEUTICAL MANUFACTURING CAPABILITY A VITAL LINK IN EUROPEAN DISTRIBUTION

BELMAC ACQUIRES RIMAFAR, S.A. IN SPAIN; PHARMACEUTICAL MANUFACTURING
 CAPABILITY A VITAL LINK IN EUROPEAN DISTRIBUTION
 TAMPA, Fla., Feb. 7 /PRNewswire/ -- Belmac Corporation (AMEX: BLM) announced today that it has completed the acquisition of Rimafar S.A., a Spanish pharmaceutical company. As of today, the name of the Spanish company has been changed to Laboratories Belmac, S.A. With this acquisition Belmac has become a fully integrated pharmaceutical company with the capacity to manufacture products for the entire European Economic Community.
 Rimafar, S.A. of Madrid, Spain, sells a line of ethical pharmaceutical products and has a manufacturing facility in Saragosa, where it produces drugs for other major pharmaceutical companies in Spain. Rimafar's revenues for calendar year 1991 were approximately $4.5 million. Belmac plans to significantly expand Rimafar's sales force to aggressively market its existing products.
 "We consider Spain a very important country for the company. Like France, Spain has a large market for macrolide antibiotics, the third largest in size in Europe, about $100 million annually," commented Jean-Francois Rossignol, Ph.D., chairman and chief executive officer of Belmac Corporation. "Belmac will immediately apply for registration of Biolid(TM) in Spain."
 Belmac Corporation is an international pharmaceutical company focusing on the development of innovative pharmaceutical products addressing large worldwide markets. The company is fully integrated with chemical and pharmaceutical operations in France and Spain. Research and development activities are conducted both in the United States and Europe. Products being developed by the company include a new generation macrolide antibiotic, a broad spectrum anti- mycobacterial for the treatment of tuberculosis and mycobacterium avium complex in AIDS patients, a new generation anti-malarial, and a transdermal drug for the treatment of the hemorrhoids.
 -0- 2/7/92
 /CONTACT: Russell Ketchum, vice president of investor relations of Belmac Corporation, 813-286-4401 or 800-877-6533/ (BLM) CO: Belmac Corporation; Rimafar, S.A. ST: Florida IN: MTC SU: TNM


AW-AK -- FL003 -- 7733 02/07/92 11:27 EST
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Publication:PR Newswire
Date:Feb 7, 1992
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