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                                                                    EXHIBIT 99.1


                          [NEOTHERAPEUTICS LETTERHEAD]

                                                           FOR IMMEDIATE RELEASE
                                                           ---------------------

             NEOTHERAPEUTICS ANNOUNCES $10 MILLION PRIVATE PLACEMENT
                          OF COMMON STOCK AND WARRANTS

Irvine, California - November 19, 1999 - NeoTherapeutics, Inc. (Nasdaq: NEOT;
NEOTW) announced today the sale to two private institutional investors of
845,594 shares of common stock at $11.83 per share for a total price of
$10,000,000.

In addition to the common stock, the investors received 5-year warrants
("primary warrants") to purchase 126,839 shares of common stock at the exercise
price of $14.24 per share, and additional warrants ("adjustment warrants") to
purchase for a nominal exercise price possible additional shares of common stock
at two reset dates, four and six months subsequent to the closing. An
indeterminate number of shares are issuable upon exercise of the adjustment
warrants based on the price of the Company's common stock at each reset date.
Should the average market price of the common stock, as determined under the
Agreement, exceed approximately $13.25 per share at each reset date or exceed
certain average price levels during the two reset periods, the adjustment
warrants for such reset period are cancelable. Further, at the time of the first
reset, the Company has the option to redeem up to one half of the shares of
common stock sold at the closing and thereby cancel the second reset.

"The lead institution previously has made a significant investment in the
Company. We are encouraged to have this investor continue to provide additional
financing as a measure of their confidence in us. The proceeds of this financing
will enable us to continue to further expand our clinical trial program for
NeoTherapeutics' lead compound, NEOTROFIN(TM) as a potential treatment for
Alzheimer's disease," stated Sam Gulko, NeoTherapeutics' Chief Financial
Officer.

NeoTherapeutics' research program is focused on developing small molecules
capable of promoting nerve regeneration and repair for a range of neurological
diseases and conditions such as Alzheimer's and Parkinson's diseases, stroke and
spinal cord injury. Additional compounds in NeoTherapeutics' product pipeline
address other health issues such as obesity, migraine and depression. Recently,
NeoTherapeutics has acquired rights to research and potential products in the
area of functional genomics. For additional Company information, visit the
NeoTherapeutics web site at www.neotherapeutics.com.

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NeoTherapeutics Announces $10 Million Private Placement
November 19, 1999
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This press release contains forward-looking statements regarding future events
and the future performance of NeoTherapeutics that involve risks and
uncertainties that could cause actual results to differ materially. These risks
include, but are not limited to, the early stage of product development, the
need for additional funding, the initiation and completion of clinical trials
and dependence on third parties for clinical testing, manufacturing and
marketing. These risks are described in further detail in the Company's reports
filed with the Securities and Exchange Commission.


CONTACTS:

Investment Community:                        Media:
Carol Gruetter                               Kelly Finley
NeoTherapeutics, Inc.                        Halsted Communications, Inc.
Tel:    (949) 788-6700                       Tel:     (800) 600-7111 x.250
e-mail: cgruetter@neotherapeutics.com                 (323) 225-1835
                                             e-mail:  kfinley@halsted.com



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