DEPRENYL RESEARCH LIMITED REPORTS EARNINGS
DEPRENYL RESEARCH LIMITED REPORTS EARNINGS TORONTO, Feb. 5 /PRNewswire/ -- Deprenyl Research Limited
(NASDAQ: DEPLF - TSE: DEP)) usually issues its results quarterly but the company is making as exception because last Thursday a Toronto brokerage firm, Burns Fry Limited, put out a report saying that for 1992 earnings of Deprenyl Research Limited would be 30 cents per share. This resulted in some very heavy selling of the company's stock.
In the month of January, Eldepryl(R) sales were $687,000 vs. $299,000 last January. January sales are historically the lowest month of the year because wholesalers stock up at the end of the year prior to an anticipated annual price increase. Export sales of Alzene(TM) began eight weeks ago and continue to rise steadily. Earnings for the month of January 1992 were 19 cents per share and early indications are that Deprenyl Research Limited will have another record year. Although January earnings will not be repeated each month, total 1992 earnings will clearly exceed the Burns Fry Limited estimate. Deprenyl Research Limited is an independent Canadian pharmaceutical company which markets drugs to treat central nervous system disorders. It principal product is Eldepryl which is used to treat Parkinson's disease. -0- 2/5/92 /CONTACT: Mortin P. Schulman, M.D., co-chairman, or James P. Doherty, president, 416-537-4372, both of Deprenyl Research; or Irving L. Strauss, chairman of Strauss Communications, 212-768-2477, for Deprenyl Research/ (DEPLF) CO: Deprenyl Research Limited ST: Ontario IN: MTC SU: ERN PS-SM -- NY001 -- 7009 02/05/92 08:30 EST
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|Date:||Feb 5, 1992|
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