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MEDCO RESEARCH REPORTS SECOND QUARTER FINANCIAL RESULTS

 RESEARCH TRIANGLE PARK, N.C., Aug. 3 /PRNewswire/ -- Medco Research, Inc. (AMEX: MRE) today announced operating results for the second quarter ended June 30, 1993.
 MEDCO RESEARCH, INC.
 (In thousands, except per share data)
 Periods ended Second Quarter Six Months
 June 30 1993 1992 1993 1992
 Total revenues $2,536 $1,827 $4,458 $3,417
 Total expenses 3,030 2,190 5,896 3,260
 Net income (loss) (494) (327) (1,439) 142
 Per share (.04) (.03) (.13) .01
 Weighted average shares 11,180 10,624 11,177 10,783
 Royalty revenue increased 53 percent in the second quarter, and 33 percent in the first six months of 1993, over the comparable periods of 1992. Adenocard(R) sales in the United States by Medco's North American licensee, Fujisawa USA, Inc., were a record $7.8 million for the second quarter and $13.5 million for the first six months of 1993, compared to $5.1 million and $10.1 million for the year-earlier periods. Other income, primarily investment income, increased 12 percent in the second quarter and 23 percent for the six months. Working capital plus investments were $47 million at June 30, 1993.
 Research and development expenses continue to reflect spending in support of our product portfolio activity and the recruitment of additional scientific, administrative and support personnel which commenced during the second quarter of 1992. R&D costs were $1.1 million for the second quarter, and $2.4 million for the first six months of 1993, as compared to $1.2 million and $1.4 million for the same periods in 1992.
 Medco Research, Inc. is a pharmaceutical company engaged in the acquisition, research and development of new prescription drugs for the diagnosis or treatment of certain cardiovascular diseases and cancer.
 -0- 8/3/93
 /CONTACT: James F. Mohar of Medco Research, Inc., 919-549-8117/
 (MRE)


CO: Medco Research, Inc. ST: North Carolina IN: MTC SU: ERN

SM-OS -- NY027 -- 8792 08/03/93 10:06 EDT
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Publication:PR Newswire
Date:Aug 3, 1993
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