PHARMACONTROL &lt;PHAR.O> ACQUIRES REVCO UNIT
  PharmaControl Corp said it
  acquired Private Formulations Inc from &lt;Revco D.S. Inc> for six
  mln dlrs in cash, a 13,550,000 dlr promissory note and warrants
  to buy 200,000 PharmaControl common shares.
      PharmaControl said the purchase price was financed, along
  with one mln dlrs in working capital, through secured
  institutional financing.
      The company said betweenm 11,550,000 dlrs and 12,550,000
  dlrs f the principal amount of the Revco note, plus accrued
  interest, is payable June 30. The balance is payable over three
  years.
      PharmaControl said it expects to make the payment due to
  Revco from proceeds of a proposed offering of units consisting
  of convertible subordinated debenturers and common stock
  currently on file with the Securities and Exchange Commission.
      Upon closing of the public offering, the company said, it
  expects the secured institutional financing to increase to a
  total of 12 mln dlrs.
      Private Formulations is primarily engaged in the
  manufacture and distribution of vitamins and private label
  over-the-counter pharmaceutical products.
  

