Pharmasol purchased from Fisons in management buyout.

SOUTH EASTON, Mass.--(BUSINESS WIRE)--May 13, 1996--Pharmasol Corp., a leading contract packager of small aerosol and non-aerosol liquid products, was purchased in a management buyout from Fisons Corp. today.

Pharmasol was acquired by Frederic J. Badia, chairman of Seyer Pharmatec, Inc., William

"Pharmasol will remain committed to its core customer base and will continue to emphasize innovative technology, high-quality products and service, and environmental safety," commented McCaig.

Under this new management structure, Badia will hold the post of chairman, and will be responsible for expanding Pharmasol's reach in the global market; Clark will assume the position of president and CEO, and will manage Pharmasol's overall operations; and McCaig will hold the position of executive vice president and C.O.O., and will continue to supervise the day-to-day operations of the company.

"While remaining true to the management principles which elevated us to our position as a leader in the contract packaging industry, we plan to engage in the development of new product applications, line extensions, and patented delivery systems," stated Clark.

"Pharmasol also plans an aggressive expansion of our customer base, focusing on the international market," added Badia.

Pharmasol Corp.'s operations, located in South Easton, Mass., a suburb of Boston, include a 60,000 square foot, state-of-the-art manufacturing facility with a 32,000 square foot, 50,000 gallon batching/compounding area and eight high-speed production lines which produce a peak output of 825,000 units per day.

Founded in 1974, Pharmasol Corp. is a leader in the formulation and packaging of pharmaceutical and personal care products, including fragrances, room fresheners, cosmetics, OTC medications, and other health and beauty aids. One of the nation's leading contract packagers of aerosol and non-aerosol liquid products, Pharmasol specializes in environmentally safe formulation and small container filling for more than 50 of the nation's leading product brands.

CONTACT: Burnieika Bearfield Emerson

Irene Sullivan, 617/371-1200