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JONES MEDICAL PURCHASES 16.7 PERCENT EQUITY IN ABANA PHARMACEUTICALS

 JONES MEDICAL PURCHASES 16.7 PERCENT EQUITY IN ABANA PHARMACEUTICALS
 ST. LOUIS, June 4 /PRNewswire/ -- Jones Medical Industries, Inc. (NASDAQ: JMED), today announced the signing of a stock purchase agreement to acquire 16.7 percent of Abana Pharmaceuticals, Inc., for $500,000.
 Abana Pharmaceuticals, headquartered in Birmingham, Ala., is a pharmaceutical marketer of specialty products to physicians and hospitals throughout Alabama, Georgia, Mississippi and Tennessee. JMED's capital infusion will assist Abana in aggressively expanding their sales organization from its present ten to 65 sales representatives by the end of 1993.
 As Abana expands its sales organization, JMED will explore the viability of joint marketing certain products including JMED's "second generation" Thrombin products, which are expected to receive FDA approval in mid 1993.
 This stock purchase agreement, which was effective as of June 1, 1992, also provides JMED an opportunity to increase its equity position via a $500,000 convertible debenture and for JMED to designate one of three directors to Abana's board of directors.
 Jones Medical Industries, Inc., is a young, aggressive, growth oriented manufacturer and marketer of pharmaceutical and nutritional products. With the acquisition of Thrombinar in 1989 and GenTrac, Inc., in 1991, JMED has positioned itself to become a leader in the field of active topical hemostasis and wound care. JMED's goal is to continue its ten-year history of record growth in both sales and earnings through strategic acquisition and focused internal development.
 -0- 6/4/92
 /CONTACT: Jones Medical Industries investor relations, 314-432-7557/
 (JMED) CO: Jones Medical Industries, Inc.; Abana Pharmaceuticals, Inc. ST: Missouri, Alabama IN: MTC SU: TNM


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Publication:PR Newswire
Date:Jun 4, 1992
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