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BELMAC ENTERS SPANISH MARKET WITH RIMAFAR, S.A.; PHARMACEUTICAL MANUFACTURING CAPABILITY VITAL LINK IN EUROPEAN DISTRIBUTION

BELMAC ENTERS SPANISH MARKET WITH RIMAFAR, S.A.; PHARMACEUTICAL MANUFACTURING CAPABILITY VITAL LINK IN EUROPEAN DISTRIBUTION
 TAMPA, Fla., Dec. 16 /PRNewswire/ -- Belmac Corporation (AMEX: BLM) announced today an agreement to acquire by Jan. 30, 1992, Rimafar, S.A., a Spanish pharmaceutical manufacturing company. "With this acquisition Belmac will become a fully integrated pharmaceutical company with the capacity to manufacture and market products to the entire European Economic Community," explained Jean-Francois Rossignol, Ph.D., CEO of Belmac.
 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. The price to be paid is depended upon the results of a final audit, but will not exceed $3 million U.S.
 Dr. Rossignol went on to explain that the full integration of Belmac Europe, S.A. is an important element in becoming a major international pharmaceutical company within this decade. To that end, Belmac also recently acquired Chimos S.A. a French chemical company, to manufacture the active chemical ingredients for each of its drugs. Earlier this week, Belmac announced the licensing of Amodex(TM) an amoxicillin-based antibiotic, which is currently selling in France.
 "The immediate benefit of the Rimafar acquisition is the access we gain to a new profitabale market and the revenue it will generate for Belmac," said Dr. Rossignol. "Rimafar's $4.5 million in revenues this past year, together with with sales from Chimos and Amodex(TM) during the same period, accounted for an aggregate of $15.5 million of revenues. Belmac anticipates expanding this number through sales of Biolid(TM), its new generation macrolide antibiotic, in France.
 Belmac plans to enter the Spanish market as quickly as possible, drawing heavily on its recent experience in France where the company has built what it believes to be an excellent distribution arm. "We will significantly expand Rimafar's sales force to aggressively market its existing products." Rimafar's line includes an amoxicillin-based antibiotic that is compatible with Belmac's drugs. Belmac plans to change the name of Rimafar upon consummation of its purchase to Laboratories Belmac de Espana, S.A.
 "We consider Spain a very important country for us. Like France, Spain has a large market for macrolide antibiotics, the third largest in size in Europe, about $100 million annually," Dr. Rossignol concluded. Belmac will apply for registration of Biolid(TM) in Spain, and may begin marketing the product in the Fall of 1992.
 Belmac Corporation, an international pharmaceutical company, is developing and marketing a broad range of antimicrobials including its new generation macrolide, Biolid(TM). Another drug, Azaquinone, is being developed as a treatment for drug resistant tuberculosis and other mycobacterial diseases including the prevention and treatment of mycobacterium avium complex (MAC) in HIV-positive individuals and AIDS patients. In addition, phenantramine, an anti-malarial drug, is being developed to address the current worldwide crisis in the spread of resistant malaria. Alphanon(R), a transdermal drug, is intended for use in the treatment of the hemorrhoidal condition and for gastro-intestinal disorders.
 -0- 12/16/91
 /CONTACT: Russell Ketchum, vice president-investor relations of Belmac Corporation, 813-286-4401 or 800-877-6533; or Vicki Weiner of VMW, Inc., 212-490-6075, for Belmac Corporation/
 (BLM) CO: Belmac Corporation; Rimafar, S.A. ST: Florida IN: MTC SU: TNM


SS-XX -- FL001 -- 2377 12/16/91 09:07 EST
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Date:Dec 16, 1991
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