Subject: Newport Pharmaceuticals Reports a Profit on Higher Sales
Date: Published: 7/18/91 (32 lines)
Source: Wall Street Journal. Copyright Dow Jones & Co. Inc.

    Business Brief -- Newport Pharmaceuticals:
    Company Reports a Profit
    In Quarter on Higher Sales

    Newport Pharmaceuticals International Inc. posted
 second-quarter net income of $290,000 and said a European
 regulatory agency didn't approve the company's isoprinosine
 drug for treatment of patients infected with the AIDS virus.
    Net income in the quarter was equal to two cents a share.
 In the year-earlier quarter, the Laguna Hills, Calif.,
 company posted a net loss of $2.2 million, or 18 cents a
 share.  Revenue rose 44% to $20.9 million from $14.5 million.
    Newport said its America's Pharmacy Inc. unit, a mail
 service pharmacy concern, contributed about 90% of revenue,
 while the balance came from isoprinosine and chemical
 manufacturing.
    The Committee for Proprietary Medicinal Products, a
 European regulatory agency, refused to approve isoprinosine
 for the early stages of the acquired immune deficiency
 syndrome after several member states imposed various
 conditions including a requirement for new tests.  A Newport
 licensee, Leo Pharmaceutical Products of Denmark,
 subsequently withdrew its isoprinosine application.

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