EXHIBIT 20

                       Press Release dated April 11, 1997


PRESS RELEASE

FOR IMMEDIATE RELEASE

Contact:
Charles R. Drummond, Chairman and CEO
(714) 754-5800

                       GOLDEN PHARMACEUTICALS, INC. (GPHI)
                ANNOUNCES THE SALE OF ITS IODINE-123 BUSINESS TO
                          SYNCOR PHARMACEUTICALS, INC.

         Golden,  Colorado,  -- April 11, 1997 -- Golden  Pharmaceuticals,  Inc.
(the  "Company")  (OTC Bulletin  Board:  GPHI),  announced today the sale of the
assets related to its Iodine-123  ("I-123") business to Syncor  Pharmaceuticals,
Inc., a wholly owned subsidiary of Syncor International Corporation. Included in
the sale is the New Drug  Application  for I-123  capsules,  the  building  that
contains  the  manufacturing  facility  for the  I-123  capsules  and all of the
equipment related to the I-123 business.

         Mr. Drummond, Chairman and Chief Executive Officer stated "The proceeds
from the sale of the I-123  business will be used to pay down existing bank debt
and to allow the Company to expand its  operations and presence in other sectors
of the health  care  market.  The Company has  experienced  substantial  revenue
growth  over  the  past  year as a  result  of the  expansion  of  Quality  Care
Pharmaceuticals, Inc. ("QCP") and Rx Direct, LLC.

         Mr.  Drummond  stated "Rx Direct has  successfully  completed the first
phase of its start up.  Operations are functioning  well and the company is well
staged for the expanded  marketing efforts currently  underway.  In the last six
months,  agreements  have been reached to provide mail order services to several
residential care  organizations,  a major California  licensed certified hospice
program and one of the nation's largest weight control  organizations.  Further,
mail order prescriptions generated in cooperation with QCP continue to expand.

     The Company  also  announced  today the  appointment  of Robert W. Bogle as
Chief Operating Officer of QCP. Mr. Bogle was previously Senior Vice President -
Operations for a large consumer  products  firm. As Senior Vice  President,  Mr.
Bogle  reported  to the Chief  Executive  Officer  and was  responsible  for P&L
activities for manufacturing,  logistics and wholesaling  activities  generating
$300 million per year in sales. Mr. Bogle had responsibility for 1,900 employees
and overseeing all stores in 28 regions nationwide,  4 distribution  centers and
two large manufacturing facilities.

     Mr.  Drummond  stated "We are  extremely  happy to have an executive of the
caliber of Mr. Bogle join QCP.  QCP is our fastest  growing  subsidiary  and has
substantial  future growth  potential.  We think Bob will be a key ingredient in
helping QCP implement its business plan."




         With the consummation of the transaction, the Company will be primarily
engaged in the repackaging and distribution of a broad range of  pharmaceuticals
products as well as the development of related computerized adjudication systems
and the manufacture of selected nutritional products.