Gensia Sicor Announces Improved Results for the First

Quarter of 1999 IRVINE, Calif. (PROTEXT) - Gensia Sicor Inc. (Nasdaq: GNSA)today announced that operating income for the quarter ended March31, 1999 was $3.9 million compared to an operating loss of$879,000 for the quarter ended March 31, 1998. Net loss for the first quarter of 1999 was $1.7 million, or$0.02 per share, versus a net loss of $3.8 million, or $0.05 pershare before a write-down of investment, in the first quarter of1998. Including an investment write-down of $1.1 million, the netloss in the first quarter of 1998 was $4.9 million, or $0.06 pershare. Total revenues for the first quarter of 1999 were $53.7million versus $43.6 million in the same period in 1998. Productsales were $48.4 million in the 1999 first quarter versus $41.3million in the same period of 1998. This increase was due toincreased sales in the international operations, primarilyattributable to the introduction of new products, and the sale ofinventory from the domestic operations to Abbott Laboratories asa result of a sales and distribution agreement entered into inJanuary 1999. Gross margins decreased slightly for the three months endedMarch 31, 1999, to 31.2% compared to 31.8% in the comparableperiod in the first quarter of 1998. Total costs and expenses forthe first quarter of 1999, before the amortization ofintangibles, were $48.2 million, an increase from the $43.1million reported in the first quarter of 1998. This increase wasalmost entirely made up of cost of sales that support the similarincrease in product sales. "Gensia Sicor's performance improvement over the March 1998quarter's results reflect the significant progress we have madeto continue our trend towards profitability," said Carlo Salvi,president and chief executive officer. "These results were veryconsistent with our expectations and are reflective of ourongoing commitment to the future growth of this company. In fact,our recent initiatives, including our new agreement with AbbottLaboratories and our amended agreement with Baxter PPI, aim toposition the Company to improve our financial results whilecontinuing to build for the future. We anticipate that we willsee the benefits of both these relationships as the yearprogresses. Salvi continued, "Additionally this quarter, we quickly andefficiently ramped up our production of propofol after receivingour marketing approval in January. The first shipment of propofolleft our U.S. manufacturing facilities on April 16, 1999, anexciting day for everyone who worked so hard to achieve thissignificant milestone. Our production remains on target to supplyBaxter with enough product to meet the anticipated market demand.The propofol product is a key element for Gensia Sicor to achieveprofitability in 1999. "We also believe we are on course with our plans to enhanceour product line by introducing a steady stream of newlyapproved, manufactured and distributed products, whilecontinually adding to our development pipeline," concluded Salvi."We are very pleased with the results for the first quarter, asthey represent an outstanding start to what we believe will be arecord year for Gensia Sicor." Gensia Sicor Inc. is a vertically integrated pharmaceuticalcompany with proven expertise in the development, manufacturingand marketing of injectable pharmaceuticals and in the productionof active pharmaceutical ingredients utilizing synthesis orfermentation. The company is focused on the worldwide oncologyand injectable pharmaceutical markets. Gensia Sicor's commercialpharmaceutical businesses include Gensia Sicor Pharmaceuticals,Inc., a California-based manufacturer and marketer of multisourceinjectable drugs, SICOR-Societa Italiana Corticosteroidi S.p.A.and Diaspa S.p.A., both of Milan Italy, and Sicor de Mexico, S.A.de C.V. in Toluca, Mexico all which produce active pharmaceuticalingredients, and Lemery, S.A. de C.V. in Mexico City which manufacturesinjectable and oral finished multisource drug products. GensiaSicor's corporate offices are located in Irvine, CA. This press release contains forward looking statements thatare subject to risks and uncertainties, including whether GensiaSicor's commercial launch of propofol will be successful, whetherthe Company's expectations for the sale of propofol will befulfilled, whether the Company will be able to introduce a steadystream of products, whether Gensia Sicor will achieveprofitability and growth and whether the Company will see anybenefits from the agreements with Abbott Laboratories and BaxterPPI. Actual results may differ materially from those set forth inthe forward-looking statements. Those matters set forth in therisk factors section of Gensia Sicor's filings on Forms 10-K and10-Q with the Securities and Exchange Commission containdiscussions of risks that could adversely affect actual results.These forward looking statements represent the Company's judgmentas of the date of this press release. The Company disclaims anyintent or obligation to update these forward looking statements. For more information on the Company, visit Gensia Sicor's newweb site at www.gensiasicor.com. News releases are also availableat no charge through PR Newswire's News On-Call fax service. Fora menu of available news releases or to retrieve a specificrelease made by Gensia Sicor, call 800-758-5804, extension354050. Please retain these numbers for future reference.

GENSIA SICOR INC.

PRESS RELEASE SUMMARY

First Quarter ended March 31, 1999

($000's)

Balance Sheet Data:

3/31/99 12/31/98

(AUDITED)

Assets:

Cash and short-term investments $25,166 $24,461

Other current assets

113,382 116,079

Property and equipment, net

105,772 105,067

Other assets

11,617

11,243

Intangibles, net

113,354 114,964

Total assets

$369,291 $371,814

Liabilities and Stockholders'

Equity:

Current liabilities

$119,525 $123,208

Other liabilities

62,431

58,144

Deferred taxes

20,645

21,453

Stockholders' equity

166,690 169,009

Total liabilities and equity $369,291 $371,814

Statement of Operations Data:

Three months ended

March 31,

1999

1998

Revenue:

Product sales

$48,357 $41,271

Contract research and license

fees

5,303

2,333

Total revenue

53,660 43,604

Costs and expenses:

Cost of sales

33,287 28,136

Research and development

5,322

5,233

Selling, general and

administrative

9,623

9,726

Total costs and expenses

48,232 43,095

Amortization of intangibles

1,528

1,388

Operating income (loss)

3,900

(879)

Interest and other income

(expense), net

(2,595) (1,702)

Write-down of investment

--

(1,130)

Minority interest

31

287

Income/(loss) before

income taxes

1,336 (3,424)

Provision for income taxes

(1,501)

(17)

Net loss before dividends

(165) (3,441)

Dividends on preferred stock

(1,488) (1,488)

Net loss applicable to common

shares

$(1,653) $(4,929)

Net loss per common share -

basic and diluted

$(0.02)

$(0.06)

Weighted average number of

common shares

79,813

79,194 otsOriginal Text Service: Gensia Sicor Inc. Internet:http://www.newsaktuell.de Contact: Laurie W. Little of GensiaSicor Inc., 949-455-4879; or Carolyn Bass or Jim Byers, 415-296-7383, or Patricia Walsh or Mark Owen, 212-850-5600, all ofMorgen-Walke Associates, Inc. for Gensia Sicor Inc. Company NewsOn-Call: http://www.prnewswire.com/comp/354050.html or fax, 800-758-5804, ext. 354050 Web site: http://www.gensiasicor.com

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