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FOUNTAIN PHARMACEUTICALS ANNOUNCES REORGANIZATION OF MANAGEMENT

 FOUNTAIN PHARMACEUTICALS ANNOUNCES REORGANIZATION OF MANAGEMENT
 LARGO, Fla., June 24 /PRNewswire/ -- Fountain Pharmaceuticals, Inc. (NASDAQ: FPHI) announced today that it has reached an agreement with John C. Walsh to join the company as its chief executive officer and president effective as of July 1.
 Walsh has extensive pharmaceutical industry experience, having served in various executive capacities for more than 20 years with Merck & Co., Inc., a worldwide leading pharmaceutical company. Walsh replaces Dr. Fountain, who resigned from all positions with the company following a proposed reorganization of management by the company's board of directors.
 A spokesman for the company stated that the company was extremely pleased at having Walsh join the company in an executive capacity. The spokesman also stated that discussions were continuing with Fountain regarding his serving for a limited time as a special technical consultant to the company. The spokesman also added, however, that there can be no assurances that such an agreement can be reached, nor can the company predict with any certainty the impact of the loss of the services of Fountain. The company is, however, continuing to focus its efforts on the continued development of its encapsulation technologies and toward that end expressed confidence in its scientific personnel in place and in its ability to attract new technical personnel as necessary.
 /delval/
 -0- 6/24/92
 /CONTACT: Clark A. Marcus of Fountain Pharmaceuticals, 813-392-5300/
 (FPHI) CO: Fountain Pharmaceuticals ST: Florida IN: MTC SU: PER


JS-CC -- PH035 -- 3486 06/24/92 17:23 EDT
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Publication:PR Newswire
Date:Jun 24, 1992
Words:249
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