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VIRATEK RECORDS A THREEFOLD INCREASE IN NET INCOME IN 1991

 VIRATEK RECORDS A THREEFOLD INCREASE IN NET INCOME IN 1991
 COSTA MESA, Calif., March 12 /PRNewswire/ -- Viratek Inc. (NASDAQ: VIRA) today reported that net income in 1991 increased 168 percent to $3.6 million, or 25 cents a share, from $1.3 million, or 10 cents a share last year. Revenues of $4.5 million in 1991 compared to $4.9 million in 1990.
 The company said fourth quarter revenues of $1.8 million compared to revenues of $4.4 million in last year's fourth quarter because of a later-than-usual start of the respiratory syncytial virus season in the United States and hospitals using existing inventories of the antiviral drug Virazole.
 Net income in the quarter of $1.6 million, or 11 cents a share, compared to $2.6 million, or 19 cents a share, in last year's fourth quarter. Net income in the quarter and the year principally benefited from the continuation of a planned expense reduction.
 Viratek receives royalties from SPI Pharmaceuticals Inc. on the sale of Virazole (ribavirin), which, among other indications, is authorized by the Food and Drug Administration in the United States and by the health authorities of 21 other countries for the aerosolized treatment of infants and young children hospitalized with severe lower respiratory tract infection caused by respiratory syncytial virus (RSV).
 Typically, the RSV season begins in the winter and runs through the early spring. Viratek said sales of Virazole in the United States were affected by a later start in the season and that hospitals used inventories that were left over from the 1990-91 RSV season.
 Virazole is also authorized in 40 countries outside the United States in a variety of formulations for a number of other viral infections.
 Viratek said several new registrations for Virazole were obtained outside the United States in 1991. In October, it was authorized in Belgium in aerosol form for the treatment of influenza A and B in children and adults. In November, it was authorized in Hungary in capsules for the treatment of HIV-infected patients. In January of 1992, it was authorized in Russia for RSV.
 During 1991, a study by researchers at the Karolinska Institute in Stockholm, published in the British medical journal The Lancet, indicated promise in Virazole to treat hepatitis C. Further clinical work evaluating the safety and efficacy of Virazole in the treatment of hepatitis C is currently ongoing at the U.S. National Institutes of Health.
 The U.S. Food and Drug Administration has not authorized commercialization of Virazole in the United States for this indication or any indication other than RSV.
 Viratek, listed on NASDAQ, specializes in the development of new pharmaceutical compounds from nucleic acid research.
 VIRATEK INC.
 Summary Financial Information
 Summary Financial Information for the Three and 12 Months Ended
 Dec. 31, 1991 and Nov. 30, 1990
 (000s omitted except per share amounts)
 Three months ended 12 months ended
 Dec. 31, Nov. 30, Dec. 31, Nov. 30,
 1991 1990 1991 1990
 Total revenues $1,772 $4,418 $4,498 $4,926
 Other expense, net 137 882 676 2,264
 Net income $1,635 $2,635 $3,587 $1,339
 Per share information:
 Net income $0.11 $0.19 $0.25 $0.10
 Shares used in per share
 computation 14,490 14,038 14,383 13,071
 -0- 3/12/92
 /CONTACT: Jack Sholl of Viratek, 714-545-0100, ext. 3013/
 (VIRA) CO: Viratek Inc. ST: California IN: MTC SU: ERN


KJ-CH -- LA012 -- 7763 03/12/92 12:15 EST
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Publication:PR Newswire
Date:Mar 12, 1992
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