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PHARMACEUTICAL RESOURCES, INC. ACQUIRES EXCLUSIVE OPTION ON PRODUCT FOR TREATMENT OF HERPES LESIONS

 SPRING VALLEY, N.Y., Nov. 23 /PRNewswire/ -- Pharmaceutical Resources, Inc. (NYSE: PRX) announced today that it has obtained from Bio-Pharma, Inc. an exclusive option to acquire all worldwide ownership, development, marketing and distribution rights to a pharmaceutical compound being studied for the treatment of herpes viral lesions. In exchange for the option, Pharmaceutical Resources has agreed to fund further evaluation of the compound. If Pharmaceutical Resources chooses to exercise its option, the company will make a $4 million payment and grant certain royalty rights to Bio-Pharma.
 Further research on the compound, which can be delivered topically, will determine whether it can significantly reduce the healing time of oral and genital herpes lesions. The compound represents the first drug entity that Pharmaceutical Resources intends to develop commercially and would have to file a full New Drug Application (NDA) to obtain approval from the Food and Drug
Administration. Pharmaceutical Resources intends to initially seek regulatory approval outside the United States to expedite commercialization of the product.
 In announcing the agreement, Kenneth I. Sawyer, president and chief executive officer of Pharmaceutical Resources, stated, "This development is extremely important to the company's long-term growth strategy. It represents our first effort to develop an innovative, brand name pharmaceutical product while expanding into antivirals, a significant new therapeutic class for us. This venture also helps the company expand into more global research, development and distribution opportunities."
 Pharmaceutical Resources, Inc. is a holding company with subsidiaries that develop, manufacture and market a broad line of generic drugs.
 -0- 11/23/93
 /CONTACT: June Filingeri or Lisa Carlton of Morgen-Walke Associates, 212-850-5600/
 (PRX)


CO: Pharmaceutical Resources, Inc.; Bio-Pharma, Inc. ST: New York IN: MTC SU: TNM

CK -- NY055 -- 7311 11/23/93 13:41 EST
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Publication:PR Newswire
Date:Nov 23, 1993
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