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INTERPHARM LABORATORIES LTD. REPORTS REVENUES AND NET INCOME FOR THE SECOND QUARTER OF 1993

 NESS-ZIONA, Israel, Aug. 3 /PRNewswire/ -- InterPharm Laboratories Ltd. (NASDAQ: IPLLF) today reported revenues of (US) $12.5 million for the quarter ending June 30, 1993. Net income for the period increased 20 percent, to $1.3 million or 22 cents per share, compared with $1.1 million or 18 cents per share for the comparable period last year.
 Revenues for the six months ending June 30, 1993 were $25.2 million compared with $23.4 million for the same period last year, an increase of 7.8 percent. Net income for the period was $2.4 million or 39 cents per share compared with $2.9 million or 47 cents per share in 1992.
 "The improvement in profitability this quarter is due to continuing efforts to reduce costs, although our revenue growth is slower due to the strains on European government reimbursement programs in general and particularly in Italy, our main market," said Alex Kotzer, president of the company.
 The company continued to invest increased resources for the construction of its recombinant interferon-beta (r-hIFN-beta) production plant. Capital expenditures for the first six months of 1993 totaled $7.3 million, an increase of 43 percent over $5.1 million for the same period of 1992.
 On July 19, Ares-Serono announced the approval of a European patent for recombinant Interleukin-6 (r-hIL-6). This patent is being secured in the name of Yeda Research and Development Company Ltd. at the Weizmann Institute of Science. The Ares-Serono Group continues to seek patent protection for IL-6, pursuant to InterPharm's obligations to Yeda and the Group's subsequent license of IL-6 from InterPharm. Upon successful development of the clinical programs presently financed by Ares-Serono, IL-6 sales are expected to commence in a number of years.
 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. The Group operates subsidiaries and manufacturing facilities in more than 20 countries.
 InterPharm Laboratories Ltd. shares are traded over-the-counter in the United States.
 Below is a summary of comparative results. All amounts are in thousands of U.S. dollars (except for share data and number of shares).
 Three Months Ended Six Months Ended
 June 30 June 30
 1993 1992 1993 1992
 Revenues 12,542 12,365 25,236 23,418
 Operating profit 1,425 1,234 2,626 2,694
 Financial expense (81) (161) (190) (82)
 Net income 1,344 1,120 2,436 2,935
 Earning per
 ordinary share 22 cents 18 cents 39 cents 47 cents
 Weighted average
 number of
 ordinary shares
 outstanding 6,242,385 6,242,385 6,242,385 6,242,385
 -0- 8/3/93
 /CONTACT: Gina M. Cella of Ares-Serono, 617-982-9000/
 (IPLLF)


CO: InterPharm Laboratories Ltd.; Ares-Serono Group ST: Massachusetts IN: MTC SU: ERN

DJ -- NE012 -- 8957 08/03/93 14:03 EDT
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Publication:PR Newswire
Date:Aug 3, 1993
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