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DURA PHARMACEUTICALS INC. REPORTS 1992 RESULTS; SALES UP 72 PERCENT

 SAN DIEGO, Feb. 2 /PRNewswire/ -- Dura Pharmaceuticals Inc. (NASDAQ-NMS: DURA) today announced record sales for both the fourth quarter and the year ended Dec. 31, 1992.
 Sales in 1992 increased 72 percent to $9,561,300 from $5,545,600 a year earlier. The sales increase is attributable primarily to significant growth of Dura's field sales force, which more than tripled from 34 to 107 during the year. Also contributing to the sales increase was the launch of two new products during the third quarter of the year -- Tornalate( (bitolterol mesylate(R)) Inhalation Solution 0.2 percent and Tornalate Metered Dose Inhaler (MDI). Because of the phased-in nature of the sales force expansion, as well as the lag time on revenues from newly launched products, much of the impact of those events was not felt in 1992 but will be realized in 1993.
 Reflecting Dura's strategy of emphasizing pharmaceuticals over devices in its future product mix, pharmaceutical sales rose 108 percent for the year while sales of devices rose 40 percent.
 Largely because of the expenses related to building the field sales force and launching the two new products, Dura reported a net loss of $6,768,600, or 93 cents per share, for the year ended Dec. 31, 1992, compared to a net loss of $4,391,700, or 92 cents per share, in the same period of 1991.
 For the fourth quarter, sales increased to $3,014,200 from $1,865,500 in the same period of 1991. Although fourth quarter 1991 sales were unusually high because of a strong cold/cough season, fourth quarter 1992 sales were still 62 percent higher. During the quarter, pharmaceutical sales were up 83 percent over the fourth quarter of 1991, while device sales were up modestly.
 Fourth quarter results were affected by the expenses associated with the new product launches and, to a lesser extent, by development expenses related to the submission to FDA of re-analyzed clinical trial data in support of the application to approve Pentyde(R) Nasal Spray for marketing. Dura also devoted considerable resources to accelerating the development of Dura's dry powder drug delivery system. As a result, Dura reported a net loss of $2,023,700, or 27 cents per share, for the quarter, vs. a net loss of $852,800, or 18 cents per share, in the fourth quarter of 1991.
 According to Cam L. Garner, president and chief executive officer, "Our performance in 1992 is proof that Dura's strategy of in-licensing late-stage pharmaceutical products and marketing those products to respiratory physicians is viable and effective. 1992 was an exciting year for Dura, demonstrated through our successful public offering, a substantial increase in the size of our field sales force and the licensing and promotion of proprietary pharmaceutical products. As a result of this progress, Dura is well positioned for an even more successful year in 1993."
 Continued expansion of the field sales force, new product development and in-licensing are key components of the company's plan for success in 1993 and beyond. Dura is currently developing a dry powder drug delivery system, focusing initially on its use with five respiratory (asthma) drugs delivered through other technologies. A recent study commissioned by Dura projects the world-wide demand for these five drugs delivered through Dura's and all other dry powder drug delivery systems could reach $1.6 billion over the next 10 years. Dura is pursuing an accelerated development schedule, following initial verification of the system's unique delivery characteristics and promising test results against presently marketed technology. Before the dry powder drug delivery system can be marketed, regulatory approvals as well as additional drug delivery system development will be required. Dura also anticipates licensing the delivery system to others for respiratory and non-respiratory uses.
 Dura Pharmaceuticals is a San Diego-based developer and marketer of prescription pharmaceutical products, drug delivery systems and medical devices for the treatment of allergies, asthma and related respiratory conditions.


DURA PHARMACEUTICALS REPORTS FOURTH QUARTER AND 1992-YEAR-END RESULTS
 Three Months Ended Dec. 31, Year Ended Dec. 31,
 1992 1991 1992 1991
 Sales $3,014,200 $1,865,500 $9,561,300 $5,545,600
 Costs and
 expenses:
 Costs of sales 824,500 539,700 2,699,700 1,587,900
 Clinical and
 regulatory 425,600 116,700 1,354,600 469,200
 General,
 administration
 and marketing 3,742,300 1,887,400 12,266,700 5,855,600
 Goodwill 57,700 66,000 256,600 935,100
 Other (income)
 expenses (12,200) 108,500 (247,700) 1,089,500
 Net loss (2,023,700) (852,800) (6,768,600) (4,391,700)
 Net loss per
 share ($0.27) ($0.18) ($0.93) ($0.92)
 Weighted average
 common shares 7,470,016 4,752,830 7,252,871 4,753,209
 DURA PHARMACEUTICALS
 Summary Balance Sheet Data:
 Year Ended Dec. 31,
 1992 1991
 Current Assets
 Cash and marketable securities $13,458,900 $2,082,000
 Other current assets 2,926,500 1,236,700
 Other assets 9,953,500 2,006,400
 Total $26,338,900 $5,325,100
 Current Liabilities
 Current liabilities $3,393,900 $1,347,100
 Long-term debt 4,634,800 9,169,000
 Shareholders' equity 18,310,200 (5,191,000)
 Total $26,338,900 $5,325,100
 -0- 2/2/93
 /CONTACT: James W. Newman, VP-finance & administration, Dura Pharmaceuticals, 619-457-2553/
 (DURA)


CO: Dura Pharmaceuticals Inc. ST: California IN: MTC SU: ERN

JB-MS -- SD003 -- 1639 02/02/93 07:33 EST
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