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BELMAC RESPONDS TO STOCK WEAKNESS AND REITERATES SUCCESSFUL COMPLETION OF PHASE I ALPHANON TRIALS WITH ALZA CORPORATION

    TAMPA, Fla., Feb. 22 /PRNewswire/ -- Belmac Corporation (AMEX: BLM) announced today in response to inquiries they know of no reason for the weakness in the stock.
    Michael M. Harshbarger, president and chief operating officer said, "Only Friday, Feb. 19, 1993, the company announced a positive development as a result of a collaborative effort with the ALZA Corporation for the successful completion of Phase I studies of its anti-hemmorrhoidal drug, ALPHANON in patch delivery form.  The company is now finally able to move forward after a long period of development. This is the first positive news the company has made on ALPHANON in over a year.  Due to the positive news of ALPHANON coupled with the sales and continued development of BIOLID, management sees to reason for the weakness in the stock."
    Belmac Corporation is an international pharmaceutical company based in Tampa, Fla.
    -0-             02/22/93
    CONTACT:  Michael D. Price of Belmac Corporation, 813-286-4401; or Harry Costello of Hill and Knowlton, 813-221-0030, for Belmac Corporation
    (BLM) CO:  BELMAC CORPORATION; ALZA CORPORATION IN:  MTC ST:  FL


-- FL007 -- X436 02/22/93
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Publication:PR Newswire
Date:Feb 22, 1993
Words:180
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