UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

(Mark One)

[X]      QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
                              EXCHANGE ACT OF 1934

                 For the quarterly period ended October 31, 1998


[ ]     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                              EXCHANGE ACT OF 1934

       For the transition period from: ________________ to _______________

                         Commission file number: 0-5958

                       MERIDIAN MEDICAL TECHNOLOGIES, INC.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

            Delaware                                             52-0898764
-------------------------------                              -------------------
(State or other jurisdiction of                                (IRS Employer
 incorporation or organization)                              Identification No.)


10240 Old Columbia Road, Columbia, Maryland                          21046
-------------------------------------------                        ----------
(Address of principal executive offices)                           (Zip Code)

Registrant's telephone number, including area code:               410-309-6830

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

                           YES [X]            NO [ ]

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.

         Class                               Outstanding as of December 14, 1998
----------------------------                 -----------------------------------
Common Stock, $.10 par value                          2,991,080 Shares


<PAGE>


                      MERIDIAN MEDICAL TECHNOLOGIES, INC.
                                   FORM 10-Q

<TABLE>
<CAPTION>
                                                                                                                   Page No.
                                                                                                                   --------
<S>                                                                                                                  <C>
PART I.  FINANCIAL INFORMATION

ITEM 1.      Consolidated Financial Statements (Unaudited except July 31, 1998 balance sheet)

                 Consolidated Balance Sheets as of
                    October 31, 1998 and July 31, 1998............................................................... 4

                 Consolidated Statements of Operations for
                    the Three Months Ended October 31, 1998 and 1997 ................................................ 5

                 Consolidated Statements of Cash Flows for
                    the Three Months Ended October 31, 1998 and 1997................................................. 6

                 Notes to Consolidated Financial Statements.......................................................... 7


ITEM 2.          Management's Discussion and Analysis of Financial
                     Condition and Results of Operations............................................................. 8

PART II. OTHER INFORMATION

ITEM 6.          Exhibits and Reports on Form 8-K................................................................... 10

SIGNATURES.......................................................................................................... 11
</TABLE>



                                       2


<PAGE>


                      MERIDIAN MEDICAL TECHNOLOGIES, INC.
                                   FORM 10-Q

MMT's business plan is to operate as a medical device company focusing on Home
Healthcare and Emergency Medical Technologies. The Company has three areas of
business. The Drug Delivery Systems business capitalizes on injectable drug
delivery devices with an emphasis on commercial auto-injectors. This group also
supplies customized drug delivery system design, pharmaceutical research and
development, and sterile product manufacturing to pharmaceutical and
biotechnology companies. The STI Government Systems business focuses on the
worldwide market for auto-injectors used by military personnel for
self-administration of nerve agent antidotes, morphine and diazepam. The
Cardiopulmonary Systems business focuses on non-invasive cardiac diagnostics and
telemedicine. It is proceeding on schedule with the research and development of
the PRIME ECG(TM) program, an 80-lead cardiac mapping system for rapid and
improved diagnostic accuracy of cardiac ischemia.

Certain statements in this Quarterly Report on Form 10-Q are forward-looking and
are identified by the use of forward-looking words or phrases such as "will be
positioned", "expects", is or are "expected", "anticipates", and "anticipated".
These forward-looking statements are based on the Company's current
expectations. Because forward-looking statements involve risks and
uncertainties, the Company's actual results could differ materially. In addition
to the factors discussed generally herein, among the factors that could cause
results to differ materially from current expectations are: (i) the general
economic and competitive conditions in markets and countries where the Company
and its subsidiaries offer products and services; (ii) changes in capital
availability or costs; (iii) fluctuations in demand for certain of the Company's
products, including changes in government procurement policy; (iv) technological
challenges associated with the development and manufacture of current and
anticipated products; (v) commercial acceptance of auto-injectors and
competitive pressure from traditional and new drug delivery methods; (vi)
delays, costs and uncertainties associated with government approvals required to
market new drugs and medical devices; (vii) costs of the Company's EpiPen
voluntary recall and/or EpiEZPen voluntary product exchange associated with
differences from management's estimate of the number of returned units, total
costs or adverse impact on future sales; (vii) success and timing of cost
reduction programs; (ix) adequacy of product liability insurance; (x) factors
related to PRIME ECG including successful product completion, degree of market
acceptance and ability to obtain strategic alliances; (xi) ability of
competitors to design around the Company's patent protection; and (xii) factors
relating to Year 2000 issues.

                                       3


<PAGE>


                      MERIDIAN MEDICAL TECHNOLOGIES, INC.
                                   FORM 10-Q

PART I.  FINANCIAL INFORMATION
------------------------------
ITEM 1.  Financial Statements

                       MERIDIAN MEDICAL TECHNOLOGIES, INC.
                           CONSOLIDATED BALANCE SHEETS
                        (In thousands, except share data)

<TABLE>
<CAPTION>
                                                                        October 31,      July 31,
                             Assets                                        1998            1998
                             ------                                     ----------     -------------
<S>                                                                    <C>             <C>       
Current assets:
  Cash and cash equivalents                                            $      338      $      284
  Restricted cash                                                             273             271
  Receivables, less allowances of $335 and $325, respectively               7,709           6,787
  Inventories                                                              11,536           9,157
  Deferred income taxes                                                     1,661           1,661
  Other current assets                                                        654             681
                                                                       ----------      ----------
       Total current assets                                                22,171          18,841
                                                                       ----------      ----------

  Property, plant and equipment                                            20,179          19,914
       Less - Accumulated depreciation                                      4,060           3,525
                                                                       ----------      ----------
       Net property, plant and equipment                                   16,119          16,389
                                                                       ----------      ----------

  Deferred financing fees                                                     810             836
  Excess of cost over net assets acquired, net                              8,058           8,325
  Other intangible assets, net                                              2,355           2,456
                                                                       ----------      ----------

       Total assets                                                    $   49,513      $   46,847
                                                                       ==========      ==========

               Liabilities and Shareholders' Equity
               ------------------------------------
Current liabilities:
   Accounts payable and other accrued liabilities                      $    7,303      $    7,255
   Note payable to bank                                                     6,291           3,988
   Customer deposits                                                          129             221
   Current portion of long-term debt                                        1,036             786
                                                                       ----------      ----------
       Total current liabilities                                           14,759          12,250
                                                                       ----------      ----------

   Long-term debt - notes payable, net of discount                         18,288          18,453
   Long-term debt - other                                                     314             397
   Deferred income taxes                                                    1,769           1,769
   Other non-current liabilities                                              719             640

Shareholders' equity:
   Common stock
     Par value $.10 per share; 18,000,000 shares authorized;
      2,991,080 and 2,990,930 shares issued and outstanding                   299             299
   Additional capital                                                      32,083          32,083
   Cumulative translation adjustment                                           45             (15)
   Accumulated deficit                                                    (18,445)        (18,711)
   Unearned stock option compensation                                        (105)           (105)
   Treasury stock, at cost                                                   (213)           (213)
                                                                       -----------     -----------
        Total shareholders' equity                                         13,664          13,338
                                                                       ----------      ----------

   Total liabilities and shareholders' equity                          $   49,513      $   46,847
                                                                       ==========      ==========
</TABLE>

        The accompanying notes are an integral part of these consolidated
                             financial statements.

                                       4


<PAGE>


                      MERIDIAN MEDICAL TECHNOLOGIES, INC.
                                   FORM 10-Q

                       MERIDIAN MEDICAL TECHNOLOGIES, INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                      (In thousands, except per share data)

                                                          Three Months Ended
                                                              October 31,
                                                           1998            1997
                                                           ----            ----

Net sales                                             $  10,850       $  10,643
Cost of sales                                             6,673           6,508
                                                      ---------       ---------
Gross profit                                              4,177           4,135

Selling, general, and administrative expenses             1,830           1,372
Research and development expenses                           248             366
Depreciation and amortization                               902             891
                                                      ---------       ---------
                                                          2,980           2,629
                                                      ---------       ---------

Operating income                                          1,197           1,506

Other (expense) income:
   Interest expense                                        (848)           (713)
   Other income                                              10               8
                                                      ---------       ---------
                                                           (838)           (705)
                                                      ----------      ----------

Income before income taxes                                  359             801

Provision for income taxes                                   93             186
                                                      ---------       ---------

Net income                                            $     266       $     615
                                                      =========       =========

Net income per share:
    Basic                                             $     .09       $     .21
                                                      =========       =========
    Diluted                                           $     .08       $     .20
                                                      =========       =========

Weighted average shares:
    Basic                                                 2,991           2,915
    Diluted                                               3,281           3,138

        The accompanying notes are an integral part of these consolidated
                             financial statements.

                                       5


<PAGE>


                      MERIDIAN MEDICAL TECHNOLOGIES, INC.
                                   FORM 10-Q

                       MERIDIAN MEDICAL TECHNOLOGIES, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (In thousands)

<TABLE>
<CAPTION>
                                                                Three Months Ended
                                                                   October 31,
                                                                 1998           1997
                                                                 ----           ----
<S>                                                          <C>            <C>        
OPERATING ACTIVITIES:
   Net income                                                $      266     $       615
   Adjustments to reconcile net income to net cash (used
     for) provided by  operating activities:
     Depreciation and amortization                                  902             891
     Amortization of notes payable discount and deferred
       financing fees                                               111             292
   Changes in assets and liabilities                                       
       Receivables                                                 (922)          2,180
       Inventories                                               (2,379)           (984)
       Other current assets                                          27              13
       Accounts payable and other accrued liabilities                48          (1,796)
   Other                                                             48               4
                                                             ----------     -----------
Net cash (used for) provided by operating activities             (1,899)          1,215

INVESTING ACTIVITIES
    Purchase of fixed assets                                       (265)           (456)
    (Increase) decrease in restricted cash                           (2)              -
                                                             -----------    -----------
Net cash used for investing activities                             (267)           (456)

FINANCING ACTIVITIES
    Net proceeds from line of credit                              2,303              99
    Net (payment) on long-term debt                                   -            (250)
    Net (payment) proceeds on other long-term debt                  (83)              9
    Proceeds from issuance of common stock                            -              64
                                                             ----------     -----------
Net cash provided by (used for) financing activities              2,220             (96)
                                                             ----------     ------------
Net increase in cash                                                 54             663
Cash at beginning of period                                         284              23
                                                             ----------     -----------
Cash at end of period                                        $      338     $       686
                                                             ==========     ===========
</TABLE>

        The accompanying notes are an integral part of these consolidated
                             financial statements.

                                       6


<PAGE>


                      MERIDIAN MEDICAL TECHNOLOGIES, INC.
                                   FORM 10-Q

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1.       In the opinion of management, the accompanying unaudited consolidated
         financial statements contain all adjustments (consisting of normal
         recurring accruals) necessary to present fairly the Company's financial
         position as of October 31, 1998 , and the results of its operations and
         cash flows for the three month periods ended October 31, 1998 and 1997.
         The results of operations for the three month period ended October 31,
         1998 are not necessarily indicative of the results that may be expected
         for the fiscal year ending July 31, 1999.

2. Inventories consisted of the following:

<TABLE>
<CAPTION>
                                                        October 31,               July 31,
                                                           1998                     1998
                                                           ----                     ----
<S>                                                    <C>                     <C>         
          Components and subassemblies                 $      7,620            $      6,616
          Work in process                                     4,157                   2,807
          Finished goods                                        606                     193
                                                       ------------            ------------
                                                             12,383                   9,616
          Less: inventory valuation allowance                  (847)                   (459)
                                                       -------------           -------------
                                                       $     11,536            $      9,157
                                                       ============            ============
</TABLE>

         During the quarter ended October 31, 1998, the Company capitalized
         $373,000 of software development costs related to a product under
         development, bringing the total capitalized to $918,000.

3.       In June 1997, the Financial Accounting Standards Board issued Statement
         No. 130, Reporting Comprehensive Income, which was adopted by the
         Company in its October 1998 financial statements. This Statement
         establishes standards for reporting and display of comprehensive income
         and its components. In accordance with the Statement, a reconciliation
         of net income to comprehensive income is as follows:

<TABLE>
<CAPTION>
                                                                      Three Months Ended October 31,
                                                                       1998                     1997
                                                                       ----                     ----
<S>                                                                 <C>                     <C>         
          Net income                                                $        266            $        615
          Foreign exchange translation adjustment                             60                      50
                                                                    ------------            ------------
          Comprehensive income                                      $        322            $        665
                                                                    ============            ============
</TABLE>

                                       7


<PAGE>


                      MERIDIAN MEDICAL TECHNOLOGIES, INC.
                                   FORM 10-Q

ITEM 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations

The Quarter in Review

MMT reported net income of $266,000, $.09 basic and $.08 diluted earnings per
share on sales of $10.9 million for the quarter ended October 31, 1998, the
first quarter of fiscal 1999. This compares with net income of $615,000, $0.21
basic and $.20 diluted earnings per share, on sales of $10.6 million in the same
period of fiscal 1998.

Revenues of MMT's three areas of business and total gross profit for the
quarters ended October 31, 1998 and 1997 are as follows:

                                          Three months ended October 31,
           ($thousands)                     1998                  1997
                                            ----                  ----

Drug Delivery Systems               $           6,021     $           5,066
STI Government Systems                          4,676                 5,340
Cardiopulmonary Systems                           153                   237
                                    -----------------     -----------------

Total Revenues                                 10,850                10,643
                                    =================     =================

Gross Profit                        $           4,177     $           4,135
                                    =================     =================

Gross Profit %                                   38.5%                 38.9%


Drug Delivery Systems business revenue in the fiscal first quarter ended October
31, 1998 was $6.0 million, $1.0 million higher than in the comparable prior year
period. The 19% increase in revenue resulted from a 22% increase in EpiPen sales
partially offset by lower R&D revenues. First quarter activities of the Drug
Delivery Systems business included a continuation of the FDA approval process
for generic drugs under the alliance with Mylan Laboratories with revenues
anticipated to start during fiscal 1999. The Company continued its program to
strengthen its quality processes with the assistance of consulting firms
specializing in biotechnology and medical device manufacturing. The involvement
of outside consultants is expected to be completed in December 1998.

The Company continued to supply EpiPens to satisfy obligations from the May 8,
1998 recall. A total of $3.3 million of EpiPens were supplied during the first
quarter to compensate for product returns and to reimburse for cash costs.The
October 31, 1998 product recall reserve balance was $636,000. The reserve
balance is based on management's estimates of the cash costs and the number of
returned units. The Company assesses the adequacy of this reserve on a quarterly
basis, and any necessary adjustments are reflected in income. Second quarter
1999 EpiPen sales will be significantly lower than the prior year second quarter
due to the continued shipment of free product.

STI Government Systems revenues were $4.7 million in the first quarter of fiscal
1999 compared to $5.3 million in the prior year comparable period. The lower
revenues resulted primarily from the absence of the $2.5 million UKMoD project,
which shipped mostly in the first quarter of 1998. This was partially offset by
$1.4 million of higher sales to the US DoD, reflecting their procurements for
military readiness. Additionally, civil defense revenues of $73,000 were
achieved in the current quarter compared to no revenues in last year's fiscal
first quarter.

The Company continued contract negotiations with the US DoD for renewal of its
Base Maintenance contract. Similar to the last renewal in 1995, the contract was
extended for six months to allow continuation of procurements while the
three-year renewal contract is being finalized. Progress continued toward
implementation of the MA project which will provide for production of a
two-chambered auto-injector. Construction on clean

                                       8


<PAGE>
                      MERIDIAN MEDICAL TECHNOLOGIES, INC.
                                   FORM 10-Q

room facilities for this project is scheduled to start in the fiscal third
quarter. Inquiries and orders continued to build momentum in the Civil Defense
area, with orders received from Philadelphia and San Francisco for second
quarter shipments.

Cardiopulmonary Systems revenues were $153,000 in the current year fiscal first
quarter compared to $237,000 in the prior year fiscal first quarter. The lower
revenues reflected continued slower sales of the CardioBeeper. Expansion of the
CardioBeeper product line into Europe continued, with orders received for
delivery starting in second quarter of 1999. In late fiscal 1998, the
Cardiopulmonary Systems business announced a new ECG monitor called the
CardioPocket. The product has received 510(k) approval from the US FDA and
revenues are expected to start in Europe in the second quarter of 1999.
Development continues on the PRIME ECG cardiac mapping system. The Company
expects to obtain a CE Mark during the first calendar quarter of 1999 and
discussions continue with several potential alliance partners.

Gross profits were $4.2 million or 38.5% of revenues during the first quarter of
1999, which was comparable with the prior year.

Operating costs were $3.0 million in the fiscal 1999 first quarter, $351,000
higher than in the first quarter of last year. Selling, general and
administrative expenses (SG&A) were $458,000 higher primarily due to consulting
expenses associated with the quality systems review, and higher business
promotion and professional fees. Partially offsetting the higher SG&A costs were
lower R&D costs. During the fiscal 1999 first quarter, the Company capitalized
PRIME software development costs amounting to $373,000, since technological
feasibility was established in December 1997.

Interest expense was $848,000 in the first quarter of fiscal 1999, an increase
of $135,000 over the comparable prior year period. The increased cost reflects
higher long-term debt and increased borrowings on the working capital line of
credit. Increased interest costs should continue until obligations from the
EpiPen recall are completed.

The provision for income taxes in the first quarter of fiscal 1999 was $93,000
reflecting an estimated effective tax rate of 26% for the year. The tax
provision incorporates estimated benefits from utilization of operating loss
carryforwards.

Liquidity and Capital Resources

Total cash as of October 31, 1998 was $338,000, an increase of $54,000 from the
prior year ended July 31, 1998. The Company used $1.9 million of cash for
operations in the first quarter of fiscal 1999 attributable mostly to the
building of inventory to continue to replace returned EpiPens and to fill
current USDoD orders. Investing activities in the three months of fiscal 1999
used $267,000 of cash for capital additions. Financing activities generated $2.2
million, primarily from borrowings on the asset based working capital line of
credit from ING CAPITAL. During the first quarter, the Company increased its
asset based working capital line of credit maximum availability to $8.5 million
from $6.5 million. In connection with the increased working capital line of
credit with ING CAPITAL, capital expenditures in fiscal 1999 have been limited
to $3.0 million. Availability under the working capital lines of credit was $2.5
million at October 31, 1998.

Working capital at October 31, 1998 was $7.4 million, up from $6.6 million at
July 31, 1998. The increase was primarily attributable to higher inventories
($2.4 million) and higher receivables ($922,000) partially offset by higher
current liabilities ($2.5 million) mostly from increased borrowings on the
credit lines. At October 31, 1998, accounts receivable were $7.7 million,
representing 64 days-sales-outstanding, and inventories were $11.5 million
representing a turn-over rate of 2.3 times per year. The inventory increase was
due primarily to preparation for delivery of STI Government orders during clean
room construction for the MA project at the Company's St. Louis manufacturing
site.

                                       9


<PAGE>


                      MERIDIAN MEDICAL TECHNOLOGIES, INC.
                                   FORM 10-Q

PART II - OTHER INFORMATION


ITEM 6.  Exhibits and Reports on Form 8-K:

(a)      Exhibits

         Exhibit 10.1     Form of Change of Control Agreements dated October 26,
                          1998 between Meridian Medical Technologies, Inc. and
                          each of J. Donald Ferry, Gerald L. Wannarka and
                          Peter A. Garbis

         Exhibit 10.2     Sixth Amendment to the Credit Agreement dated
                          November 6, 1998, between Meridian Medical
                          Technologies, Inc. and Internationale Nederlanden
                          (U.S.) Capital Corporation.

         Exhibit 27       Financial Data Schedule

(b)      Reports on Form 8-K

         No reports on Form 8-K were filed during the three months ended October
31, 1998.



                                       10


<PAGE>


                      MERIDIAN MEDICAL TECHNOLOGIES, INC.
                                   FORM 10-Q

                                   SIGNATURES


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

                                   MERIDIAN MEDICAL TECHNOLOGIES, INC.
                                   -----------------------------------
                                            Registrant


       December 14, 1998           By:   /S/ James H. Miller
       -----------------                 ---------------------------------
               Date                          James H. Miller
                                             President and
                                             Chief Executive Officer
                                             (Principal Executive Officer)


       December 14, 1998           By:   /S/ G. Troy Braswell
       -----------------                 ---------------------------------
               Date                          G. Troy Braswell
                                             Vice President-Finance
                                             and Chief Financial Officer
                                             (Principal Financial and
                                             Accounting Officer)



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