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BIOSPECIFICS TECHNOLOGIES CORP. ANNOUNCES INCREASES IN PRODUCTION AND FORECAST

 LYNBROOK, N.Y., Jan. 12 /PRNewswire/ -- BioSpecifics Technologies Corp. (NASDAQ: BSTC) today reported that its licensee in the United States and Canada has informed the Company that the need for Collagenase Santyl production is expected to grow by 120% in 1994. Edwin H. Wegman, Chairman and President of BioSpecifics, stated, "Based on this customer's need, revenues in our next fiscal year will be in the range of $7,000,000 to $8,500,000. These revenues are anticipated to result in earnings before taxes of $0.70 to $0.95 per primary share. The range of the forecast is fairly wide because royalty revenue is difficult to project. However, even the lower revenue projection indicates a growth rate in domestic revenues of 95% in fiscal 1995 over 1994. This forecast does not include expected revenue from collagenase sales and licenses overseas, or the licensing of products in development."
 In the year that ended Dec. 31, 1993, BioSpecifics made 91 Santyl lots, an increase of 122% over 1992. In 1994, the licensee now forecasts a need for 200 production lots, or 120% more than 1993 production. Mr. Wegman continued, "Our customer's commitment to Santyl has been strengthened by the growing recognition of Santyl's exceptional medical benefits and corresponding sales response. The rate of growth in production has been consistent, having risen 128% in 1992 over 1991. As a result of this increased need in 1994, we will expand production at our Curacao plant."
 Collagenase Santyl is an ethical topical drug used for dermal ulcers, pressure sores, and burn wound treatment. BioSpecifics produces the FDA approved enzyme Collagenase ABC, the essential constituent of Collagenase Santyl, and licenses it for domestic and international sales. BioSpecifics is also engaged in various stages of research, development, clinical testing and marketing of additional pharmaceutical products.
 -0- 1/12/94
 /CONTACT: Edwin H. Wegman, president of BioSpecifics, 516-593-7000; or Sam Witchel of Scharff, Witchel & Co., 212-938-1060/
 (BSTC)


CO: BioSpecifics Technologies Corp. ST: New York IN: MTC SU:

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Publication:PR Newswire
Date:Jan 12, 1994
Words:339
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