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INTERPHARM LABORATORIES LTD. REPORTS LEGAL ACTION

 NESS-ZIONA, Israel, Sept. 8 /PRNewswire/ -- InterPharm Laboratories Limited (NASDAQ: IPLLF) announced today that, in the context of ongoing litigation in Tel-Aviv and New York relating to the dissolution of the Israel bio-engineering project, a New York limited partnership (the "Partnership"), a Tel-Aviv District Court judge issued a temporary injunction on Aug. 30, 1993 ordering the company, its subsidiary, Inter-Lab, and its affiliate, Ares Trading S.A., not to sell or otherwise transfer a recombinant beta-interferon working cell bank or certain interferon-beta monoclonal antibodies. As disclosed in InterPharm's 1992 Annual Report, the company had agreed to sell Ares Trading a recombinant beta-interferon working cell bank for US$ 2 million plus the assumption of all royalty payment obligations arising from the sale or use of the working cell bank. A working cell bank was transferred to Ares Trading prior to the issuance of the injunction.
 The liquidating trustee of the Partnership filed a related complaint against the company and certain of its affiliates in Tel-Aviv District Court on Sept. 2, 1993. In addition to the remedies requested in the temporary injunction, the complaint asks that the relevant government authority be ordered to rescind its approval of, and be retrained from approving, any agreements relating to the cell bank or Interleukin-6. The company continues to cooperate with the liquidating trustee in the liquidation of the Partnership and will respond to and contest the Tel-Aviv lawsuits.
 InterPharm Laboratories Ltd. is a member of The Ares-Serono Group, a worldwide developer and marketer of pharmaceutical and diagnostic products, with executive headquarters in Geneva, Switzerland. The Group operates subsidiaries and manufacturing facilities in more than 20 countries.
 InterPharm's shares are traded over-the-counter in the United States.
 -0- 9/8/93
 /CONTACT: Gina Cella, of Ares-Serono, 617-982-9000/
 (IPLLF)


CO: InterPharm Laboratories Ltd; Ares-Serono ST: Switzerland IN: MTC SU:

JL-CM -- NE009 -- 9838 09/08/93 12:58 EDT
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Publication:PR Newswire
Date:Sep 8, 1993
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