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U.S. BIOSCIENCE REACHES AGREEMENT WITH MARION MERRELL DOW AND U.S. HEALTHCARE REGARDING STOCK DISTRIBUTION

 U.S. BIOSCIENCE REACHES AGREEMENT WITH MARION MERRELL DOW
 AND U.S. HEALTHCARE REGARDING STOCK DISTRIBUTION
 WEST CONSHOHOCKEN, Pa., April 7 /PRNewswire/ -- U.S. Bioscience Inc. (AMEX: UBS) today announced it has reached agreement with Marion Merrell Dow Inc. and U.S. Healthcare regarding the timing of those companies' planned distributions of their shares of U.S. Bioscience common stock.
 Under the agreement, Marion Merrell Dow has withdrawn its request for registration of its shares made on Jan. 24, 1992. Marion Merrell Dow has further agreed to delay renewing its registration request for a period of time designed to give U.S. Healthcare an opportunity to effect its previously announced distribution of U.S. Bioscience stock to its shareholders. It is anticipated that the U.S. Healthcare distribution will take place before Aug. 4, 1992. U.S. Healthcare made a distribution of U.S. Bioscience common stock to its stockholders in 1987.
 Philip S. Schein, M.D., chairman and chief executive officer of U.S. Bioscience, said, "We are pleased to conclude this agreement, as it will promote the orderly distribution of U.S. Bioscience stock by U.S. Healthcare and Marion Merrell Dow so as to minimize its effect on the market for U.S. Bioscience stock."
 Based in West Conshohocken, U.S. Bioscience is a pharmaceutical company specializing in the development and commercialization of products to increase the survival and quality of life of patients with cancer and allied diseases.
 -0- 4/7/92
 /CONTACT: Robert I. Kriebel of U.S. Bioscience, 215-832-4503; or Charles Versaggi of Versaggi & Associates, 408-358-4162 or 408-395-1877, for U.S. Bioscience/
 (UBS) CO: U.S. Bioscience ST: Pennsylvania IN: MTC SU:


MM-DG -- SJ001 -- 5806 04/07/92 11:41 EDT
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Publication:PR Newswire
Date:Apr 7, 1992
Words:287
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