SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549



                                    FORM 8-K



                                 CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report:    April 5, 1999



                          WASATCH PHARMACEUTICAL, INC.
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter)

        UTAH                           000-22899                 84-0854009
- ----------------------------    ------------------------   ---------------------
(State or other jurisdiction    (Commission File Number)   (IRS Employer ID No.)
 of incorporation)


                    714 East 7200 South, Midvale, Utah 84047
               ---------------------------------------------------
                     (Address of principal executive office)


Registrant's telephone number, including area code:   (801)  566-9688
                                                      ----------------

                                       N/A
    ------------------------------------------------------------------------
          (Former name or former address, if changed since last report)



ITEM 5.     OTHER EVENTS


Summary

         On March 3, 1999, Wasatch Pharmaceutical, Inc., a Utah corporation (the
"Company") entered into a Financial  Consulting Agreement with The Vector Group,
LLC, a California  Limited Liability  Company,  ( "Vector"),  wherein Vector has
agreed to perform investment banking services including:
         Creating and  executing  plans for the  financing of the  expansion and
growth of the operations of the Company,  including public or private  offerings
of the Company's securities.
         The  Vector  Group will  receive  1,500,000  shares of common  stock as
compensation.









 (c) (1) Exhibits. The following exhibits are included as part of this report:

                  SEC
Exhibit           Reference
Number   Number   Title of Document                                Location
- -------  ------   --------------------------------------------     --------
 10.01    10      Agreement between The Vector Group               This filing
                  and Wasatch Pharmaceutical, Inc. dated
                  March 3, 1999.





                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended,  the  Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunder duly authorized.

                                                 WASATCH PHARMACEUTICAL, INC.


Date:   April 5, 1999                            /s/  David K. Giles
                                                 -----------------------

                                                 David K. Giles, Secretary