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BIOCHEM PHARMA QUARTERLY RESULTS - CONTINUED GROWTH IN RESEARCH AND DEVELOPMENT AND REVENUES

 LAVAL, Quebec, Dec. 18 /PRNewswire/ -- BioChem Pharma Inc. (NASDAQ: BCHXF) continues to be in a sound financial position. That's what appears in the quarterly results approved by the company's Board. During the third quarter, ended Oct. 31, 1992, BioChem posted total revenues of $11.4 million, a 22 percent increase over the corresponding quarter of the previous year, which showed total revenues of $9.3 million. For the nine months ended Oct. 31, BioChem reported sales of $29.5 million, compared with $20.2 million last year, a 46 percent increase.
 In other respects, following sustained R & D investments -- $8.9 million for the nine months and $2.8 million for the last quarter ended Oct. 31, 1992. BioChem reported a loss of $110,295 for the third quarter of the current year, compared with a loss of $277,454 for the same quarter last year. This is before income tax, minority interest in the subsidiaries, the share of the loss of the associated company, North American Vaccine Inc. (NAVA), and the loss attributable to the writeoff of $2.5 million in expenses resulting from the cancelled share issue during the second quarter of this year. After these items, the loss amount is $1.8 million, or $0.04 per share for the third quarter of the current year, and $9.3 million, or $0.23 per share, for the nine months ended Oct. 31, 1992. Compared with the nine months ended Oct. 31, 1991, and including a profit on dilution of $17 million, the Company reported earnings of $14 million or $0.41 per share.
 BioChem's balance sheet at Oct. 31, 1992, shows assets of $110.9 million, compared with $97.4 million on Oct. 31, 1991. Nearly one-third of BioChem's assets are in cash.
 Shareholders' equity increased from $74.9 million to $87.2 million. This increase is due mainly to the exercise of stock purchase warrants and the subscription of shares by Glaxo Canada Inc.
 BioChem Pharma is a pharmaceutical company dedicated to the research, development and commercialization of innovative products for the detection, prevention and treatment of human diseases. The Company's shares are traded on the Montreal and Toronto stock exchanges (BCH) and on NASDAQ (BCHXF.)
 -0- 12/18/92
 /CONTACT: Jean-Yves Duthel, vice-president, public relations, of BioChem Pharma Inc., 514-681-1744; or Luc Beauregard or Michle Roy, both of NATIONAL Public Relations Inc., 514-843-7171, for BioChem Pharma, Inc./
 (BCHXF)


CO: BioChem Pharma Inc. ST: Quebec IN: MTC SU: ERN

LR -- NY057 -- 8254 12/18/92 13:21 EST
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Publication:PR Newswire
Date:Dec 18, 1992
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