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WILSHIRE TECHNOLOGIES INCREASES EQUITY OWNERSHIP OF WILSHIRE TRANSDERMAL PRODUCTS

 CARLSBAD, Calif., Nov. 9 /PRNewswire/ -- Wilshire Technologies Inc. (AMEX: WIL) today announced it had reached an agreement in principal to acquire an additional 40 percent of its joint venture for transdermal patches with Intelligent Pharmaceuticals. The resulting structure will be a 90-percent owned subsidiary of Wilshire Technologies with Intelligent Pharmaceuticals retaining 10 percent interest. Terms were not disclosed.
 John Keener, president of Wilshire Transdermal Products stated, "The increase in our equity percentage reflects our excitement about the future of the business. We are proceeding on several foreign country approvals for our appetite suppressant Trim Patch(TM) and expect to have significant distribution in place by early fiscal 1994."
 "We are committed to building a new method of delivery sustained release OTC drugs through our proprietary and licensed transdermal technology. We expect to introduce several additional products in fiscal 1994," stated Michael W. Crow, chairman & chief executive officer of Wilshire Technologies Inc.
 Wilshire Technologies develops, manufactures and markets disposable products for medical and clean room use. It has focused on proprietary products that incorporate its engineered materials, acquired polyurethane and other technologies, and its expertise in materials fabrication.
 -0- 11/9/93
 /CONTACT: Michael W. Crow, chairman & CEO or Peter F. Kuebler, VP & CFO of Wilshire Technologies, 619-929-7200/
 (WIL)


CO: Wilshire Technologies Inc.; Intelligent Pharmaceuticals ST: California IN: MTC SU:

EH -- SD006 -- 2201 11/09/93 10:51 EST
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Publication:PR Newswire
Date:Nov 9, 1993
Words:228
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