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Form 10-C

Securities and Exchange Commission
Washington, D.C. 20549

Report by issuer of securities quoted on The Nasdaq Stock Market(sm),
filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
and Rule 13a-17 or 15d-17 thereunder.

EXACT NAME OF ISSUER AS SPECIFIED IN CHARTER:  UNIMED PHARMACEUTICALS, INC.
                                              --------------------------------

ADDRESS OF PRINCIPAL EXECUTIVE OFFICES:        2150 E. LAKE COOK RD., SUITE 210
                                        ---------------------------------------

ISSUER'S TELEPHONE NUMBER (INCLUDING AREA CODE): BUFFALO GROVE, IL 60089 
                                                -------------------------------
                                                 (847)541-2525

I. Change in Number of Shares Outstanding 
Indicate any change (increase or decrease) of five percent or more in the
number of shares outstanding:

1.  Title of security   Common Stock
                      --------------------------------------------------------

2.  Number of shares outstanding before the change       6,361,386
                                                   ---------------------------

3.  Number of shares outstanding after the change        7,161,386
                                                   ---------------------------

4.  Effective date of change           FEBRUARY 9, 1996  
                             -------------------------------------------------

5.  Method of change                   ISSUANCE OF STOCK
                     --------------------------------------------------------- 
Specify method (such as merger, acquisition, exchange, distribution, stock
split, reverse split, acquisition of stock for 
treasury, etc.)    ISSUANCE OF STOCK PURSUANT TO EXISTING WARRANT
                --------------------------------------------------------------


Give brief description of transaction  HOLDER OF 800,000 SHARE WARRANT FROM 
                                      ----------------------------------------
                                       MARCH 1991 EXERCISED THAT WARRANT AT
                                       $2.125

II.  Change in Name of Issuer

1.  Name prior to change                       N/A
                         -----------------------------------------------------

2.  Name after change                          N/A
                       -------------------------------------------------------

3.  Effective date of charter amendment changing name         N/A
                                                      ------------------------

4.  Date of shareholder approval of change, if required        N/A
                                                        ----------------------


5/3/96                    /s/ David E. Riggs   Senior V.P./CFO
- ------------------------------------------------------------------------------
DATE                       OFFICER'S SIGNATURE AND TITLE

(c) October, 1994.  The Nasdaq Stock Market, Inc.  All rights reserved.  The
Nasdaq Stock Market is a service mark of The Nasdaq Stock Market, Inc.

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