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MEDCHEM PRODUCTS, INC. NAMES JONATHAN D. DONALDSON CEO; PROMOTIONS FILL KEY EXECUTIVE MANAGEMENT POSITIONS

 MEDCHEM PRODUCTS, INC. NAMES JONATHAN D. DONALDSON CEO;
 PROMOTIONS FILL KEY EXECUTIVE MANAGEMENT POSITIONS
 WOBURN, Mass., Sept. 17 /PRNewswire/ -- MedChem Products Inc. (AMEX: MCH) announced today that Jonathan D. Donaldson has been named Chief Executive Officer of the company and will retain his title of President. Since 1986, Donaldson has served as President and Chief Operating Officer of MedChem. Dr. David A. Swann will retain his positions as Chairman of the Board and Chief Scientific Officer of MedChem. In addition, Swann has been named Chief Executive Officer of Anika Research, Inc., MedChem's hyaluronic acid research and development subsidiary, which was formed in late 1991.
 "We thank David Swann for his many contributions to MedChem over the past 20 years as the company has grown from its roots as a research- oriented organization into a fully-integrated medical products company," said Jonathan D. Donaldson, President and Chief Executive Officer of MedChem. "Under David Swann's direction, MedChem has become a leader in hyaluronic acid technology and we look forward to his continued contributions as CEO of our Anika subsidiary." Anika is developing hyaluronic acid for use in orthopedics, adhesion prevention and the control of several proliferative diseases.
 "Jonathan Donaldson has been an outstanding president and we have great confidence in his ability to lead MedChem during this period of rapid development," commented David Swann, Chairman of the Board of MedChem.
 In conjunction with its management restructuring, MedChem also announced the following promotions. Edward F. Covell has been promoted to Executive Vice President and Chief Operating Officer. Bradford R. Gay has assumed the position of Senior Vice President, Sales and Marketing. John A. McCarthy, Jr. has been promoted to the newly created position of Vice President and Chief Financial Officer.
 "Mr. Covell, Mr. Gay and Mr. McCarthy have each contributed substantially to MedChem's organization and marketing efforts," said Donaldson, President and Chief Executive Officer of MedChem. "This new management structure will strengthen the existing management team and enable the company to achieve its long-term growth objectives."
 Covell, previously Senior Vice President, Sales and Marketing of MedChem has over 20 years of experience in the medical products industry. He spent 10 years at Tambrands, Inc., most recently as Corporate Vice President and General Manager of the First Response Home Diagnostic Division. He also worked for the Kendall Company. He received a B.S. in Chemistry from Providence College.
 Gay was formerly Vice President, Marketing at MedChem. Prior to joining the company, he was Vice President, Marketing and Sales at VidCode, Inc. He has also served in marketing positions at Paul Revere Insurance, Tambrands, Inc. and the Gillette Company. Gay received his M.B.A. from the Amos Tuck School of Business Administration at Dartmouth College and a B.A. Cum Laude from Middlebury College.
 McCarthy previously served as Vice President, New Business Development at MedChem. Before joining the company, he was a partner at Kaufman & Co., a Boston-based investment banking firm. He has also held positions at Morgan Stanley and Chemical Bank. McCarthy received his M.B.A. from Harvard Graduate School of Business Administration and a B.S. with high honors in Finance from Lehigh University.
 MedChem Products, Inc. develops, manufactures and markets medical products for use in both surgical and non-surgical procedures. The company's product development and acquisition strategy is guided by two important hospital care trends: cost containment and minimizing invasive medical procedures. MedChem's three major product lines are the Avitene(R) family of hemostatic products, the Per-Q-Cath(R) family of catheter kits for IV therapy, and AMVISC(R), an ophthalmic surgical product based on hyaluronic acid marketed through Johnson & Johnson's IOLAB Division. Anika Research, Inc., a subsidiary of MedChem, is dedicated to the research and development of biomedical and therapeutic products based on hyaluronic acid.
 -0- 9/17/92
 /CONTACT: John A. McCarthy, Jr. of MedChem Products, Inc. 617-938-9328; or Lynne H. Brum of Feinstein Partners, 617-577-8110, for MedChem/
 (MCH) CO: MedChem Products, Inc. ST: Massachusetts IN: MTC SU: PER


CH -- NE012 -- 0728 09/17/92 14:02 EDT
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Date:Sep 17, 1992
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