hGH IN JAPAN BOOSTS BIOTECH GENERAL SALES

For Israel's Biotechnology General, 1993 revenues increased substantially as a result of the launch in Japan by its Japanese distributor JCR of BTG's human growth hormone (trade name Growjet Injectable 4IU) for the treatment of short stature. Worldwide sales last year exceeded $10 million for the first time, representing around a five-fold increase on 1992 product sales. Total revenues for 1993 were $13.9 million, of which $10.1 million was derived from product sales, compared to total 1992 revenue of $8.0 million, according to BTG's annual report.

The net loss for 1993, which includes a one-off, non-cash charge of $10.2 million due to the issuance of warrants in the Bio-Cardia R&D financing in December 1993 and expenses of $1.4 million associated with the merger with Gynex Pharmaceutical Inc, was $22.8 million or 63 cents per share. The 1993 net loss would have been $11.2 million without these one-time expenses, representing less than a 7% increase in the loss compared to 1992.

Product Development BTG's European licensee, the Ferring Group, plans hGH launches in the region this year, and last December Novopharm of Canada was granted exclusive rights to market and distribute Bio-Tropin, BTG's recombinant human growth hormone in Canada. Bio-Tropin was approved this April in Mexico, and BTG has signed an agreement with Laboratorios Cryopharma for marketing in that country.