Printer Friendly

SPI PHARMACEUTICALS EXPECTS 1991 SALES TO REACH $360 MILLION

 SPI PHARMACEUTICALS EXPECTS 1991 SALES TO REACH $360 MILLION
 NEWPORT BEACH, Calif., Feb. 20 /PRNewswire/ -- Speaking to institutional investors at the annual Cruttenden & Co. Southern California Growth Stock Conference, Milan Panic, chairman and chief executive officer of SPI Pharmaceuticals Inc. (AMEX: SPI), said today that SPI sales in 1991 should reach approximately $360 million.
 Panic noted that 1991 sales include eight months of sales of the company's new Eastern European venture, ICN Galenika. He said that SPI expected to report full financial results for 1991 in mid-March.
 The SPI chairman also said that the company is now proceeding with due diligence activities for its proposed venture with Oktyabr Pharmaceutical Factories of St. Petersburg (Leningrad), one of the largest pharmaceutical companies in Russia. SPI announced in December, that it had signed a letter of intent to create a new pharmaceutical venture with Oktyabr.
 SPI Pharmaceuticals manufactures, markets and distributes 600 prescription and nonprescription pharmaceuticals in more than 60 countries, including the United States, Western and Eastern Europe, Canada, Mexico and the Far East. It is listed on the American Stock Exchange (ticker symbol SPI).
 -0- 2/20/92
 /CONTACT: Jack Sholl of SPI Pharaceuticals, 714-545-0100, ext. 3013/
 (SPI) CO: SPI Pharmaceuticals ST: California IN: MTC SU:


EH-JL -- LA009 -- 0893 02/20/92 11:55 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 20, 1992
Words:214
Previous Article:BELL SPORTS FILES INITIAL PUBLIC OFFERING OF 2,400,000 COMMON SHARES WITH SEC
Next Article:IBAA URGES CONGRESS TO SUPPORT INCREASED SBA FUNDING
Topics:


Related Articles
SPI PHARMACEUTICALS DECLARES 25 CENTS-A-SHARE COMMON STOCK DIVIDEND
/C L A R I F I C A T I O N -- SPI PHARMACEUTICALS/
SPI PHARMACEUTICALS REPORTS RECORD NET INCOME AND SALES FOR THE YEAR ENDED 1991
ICN PHARMACEUTICALS REPORTS RECORD FIRST QUARTER SALES AND EARNINGS; LONG-TERM LIABILITIES REDUCED BY $40 MILLION
SPI PHARMACEUTICALS REPORTS RECORD SECOND QUARTER SALES AND NET INCOME
ICN PHARMACEUTICALS REPORTS SECOND QUARTER RESULTS
SPI PHARMACEUTICALS INC. REPORTS THIRD QUARTER NET INCOME INCREASE
SPI PHARMACEUTICALS INC. REPORTS THIRD QUARTER NET INCOME INCREASE
SPI PHARMACEUTICALS REPORTS RECORD SALES AND INCOME FOR 1992
ICN PHARMACEUTICALS ANNOUNCES YEAR-END RESULTS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters