* Medicis Pharmaceutical Corp., of New York, and Frost HannaAcquisition Group Inc. decided not to proceed with their merger,blaming market conditions for the decision. The two companiesannounced in December 1994 that Medicis intended to acquire FrostHanna.

* Carrington Laboratories Inc., of Irving, Texas, received an $8.3million loan from NationsBank of Texas. A portion of the funds willbe used to complete an expansion of the company's manufacturingfacilities.

* The Liposome Co., of Princeton, N.J., reported positive resultsfrom its Phase II trial of TLC C-53 (liposomal PGE-1) for acuterespiratory distress syndrome (ARDS). The study involved 25patients. Thirteen of 17 who received the drug experienced at least a25 percent improvement in lung compliance or were removed fromventilators by the eighth day of the trial. None of the eight patientswho received a placebo responded as well. The company said itplans to conduct an expanded study for ARDS patients and initiate atrial of TLC C-53 for sepsis.

* Alpha-Beta Technology Inc., of Worcester, Mass., adopted ashareholder rights plan to thwart unwanted takeovers. The companysaid the move was not a response to a proposal to acquire Alpha-Beta.

(c) 1997 American Health Consultants. All rights reserved.