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QMED REPORTS A 3.3 PERCENT RISE IN FIRST QUARTER SALES

 LAURENCE HARBOR, N.J., April 14 /PRNewswire/ -- qmed, Inc. (NASDAQ: QEKG) today reported that net sales for the first quarter ending Feb. 28, 1993 increased by 3.3 percent to $2,088,352 compared to net sales of $2,021,066 for the corresponding period of the prior year. The company incurred a net loss of ($318,743) or $(.04) per share for the first quarter, compared to a net profit of $2,750 or $.00 per share for the corresponding period of the prior year.
 Michael W. Cox, CEO of qmed, commented that "Our increase in sales was at least 30 percent below our expectations." Cox went on to say, "There is little doubt in our minds that the public debate concerning health care practice led by negative rhetoric from the Clinton administration, has had a chilling effect on qmed's business during the last 90 days." In particular Mr. Cox said, "The January and February public announcements of the Clinton Administration's intent to reform health care practice, without announcing any specifics relating to who or how health care workers, particularly physicians will be impacted, created sufficient uncertainties which resulted in physicians postponing the acquisition of qmed's medical products, until the smoke clears."
 In the interim qmed has taken the necessary steps to control its costs and has prepared the company's sales force to respond positively to issues raised by the suggested changes in health care delivery. In fact, it is quite possible that qmed will benefit greatly if the administration truly empowers the Primary Care Physician to be the medical/economic "gate-keeper," Mr. Cook said.
 Mr. Cox continued to say, "Recently, some sun has shined through and more detail has come to light regarding the administration's role in health care. We are encouraged to see selective statements indicating that the Primary Care Physician will be allowed and rewarded to take a more progressive role in the management of patients. These indications have had a very positive effect on our March business which was at least 50 percent higher compared to last year."
 qmed, INC.
 Three months ended 2/28/93 2/29/92
 Net sales $2,088,352 $2,021,066
 Net income (loss) (318,743) 2,750
 Average shares 7,689,080 6,640,315
 Income (loss) per share (.04) .00
 -0- 4/14/93
 /CONTACT: Debra Fenton of qmed, Inc., 908-566-2666/
 (QEKG)


CO: qmed, Inc. ST: New Jersey IN: MTC SU: ERN

PS-OS -- NY058 -- 5736 04/14/93 12:41 EDT
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Publication:PR Newswire
Date:Apr 14, 1993
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