SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C.  20549

                                   ----------
                                    FORM 10-Q


                                   ----------

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

                  FOR THE QUARTERLY PERIOD ENDED JUNE 30, 1997

                                         OR

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

       FOR THE TRANSITION PERIOD FROM _______________ TO ____________________


                                    EUROMED, INC.
               (Exact name of registrant as specified in its charter)

                           COMMISSION FILE NUMBER 0-27720


                      NEVADA                                 88-0317700
          (State or other jurisdiction of                 (I.R.S. Employer
          incorporation or organization)                 Identification No.)

              WILHELMINAKANAAL NORD 6
          NL 4092 VR OOSTERHOUT, THE NETHERLANDS
          (Address of principal executive offices)           (Zip Code)

                                 011-31-16-242-4424
                (Registrant's telephone number, including area code)

     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                  

     As of August 14,  1997,  there were  2,277,000  shares  outstanding  of the
registrant's common stock, $0.01 par value.
--------------------------------------------------------------------------------









<PAGE>

                                        INDEX

                           PART I.  FINANCIAL INFORMATION
 
                                                                        PAGE NO.
                                                                        --------

ITEM 1.   FINANCIAL STATEMENTS (UNAUDITED):

          Condensed Consolidated Balance Sheets -
               December 31, 1996 and June 30, 1997                             3

          Condensed Consolidated Statements of Operations -
               Three months and six months ended June 30, 1996 and 1997        5

          Condensed Consolidated Statements of Cash Flows -
               Six months ended June 30, 1996 and 1997                         6

          Notes to Condensed Consolidated Financial Statements                 8

ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
               CONDITION AND RESULTS OF OPERATIONS                             9


                             PART II.  OTHER INFORMATION

ITEM 1.   LEGAL PROCEEDINGS                                                   12

ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS                 12

ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K                                    13






















<PAGE>

                           EUROMED, INC. AND SUBSIDIARIES

                             CONSOLIDATED BALANCE SHEETS
                            (in thousands of US dollars)

                                                      December 31,    June 30,
                                                          1996          1997   
                                                      ------------  ----------- 
                                                                    (Unaudited)

ASSETS

Current Assets
  Cash and cash equivalents                              $    411      $    275
  Trade accounts receivable                                 1,155         1,564
  Loan receivable                                             548           283
  Due from affiliated companies and
     other related parties                                    695           520
  Inventory                                                 4,526         3,609
  Other receivables and prepaid expenses                      349           110
  Net assets of discontinued operations                     2,802         3,104
                                                         --------      --------
     TOTAL CURRENT ASSETS                                  10,486         9,465
                                                         --------      --------
Vehicles, Furniture and Equipment, at cost                    815           910
  Less:  Accumulated depreciation and
  amortization                                               (406)         (478)
                                                         --------      --------
     NET VEHICLES, FURNITURE AND
     EQUIPMENT                                                409           432
                                                         --------      --------
Other Assets
  Intangible assets less accumulated
     amortization of $256,000 and $307,000
     in 1996 and 1997, respectively                           607           586
  Other                                                       172            51
                                                         --------      --------
     TOTAL OTHER ASSETS                                       779           637
                                                         --------      --------
     TOTAL ASSETS                                        $ 11,674      $ 10,534
                                                         ========      ========









            See accompanying notes to consolidated financial statements.

                                          3

<PAGE>

                           EUROMED, INC. AND SUBSIDIARIES

                             CONSOLIDATED BALANCE SHEETS
                            (in thousands of US dollars)
 
                                                      December 31,     June 30,
                                                         1996            1997   
                                                      -----------    ----------
                                                                     (Unaudited)
LIABILITIES

Current liabilities
  Loan payable                                            $    311     $    356
  Bank overdraft                                             3,540        3,632
  Trade accounts payable                                     3,076        2,436
  Due to affiliated companies, controlling
     interests and other related parties                        69         --
  Taxes payable and other accrued expenses                   1,061        1,464
                                                          --------     --------
     TOTAL CURRENT LIABILITIES                               8,057        7,888

Long-term debts
  Unsecured loan from B.V. Wisteria                           --           --
  Unsecured loan from Hybrida B.V                             --           --
  Unsecured loan from Pantapharma B.V                           90         --
  Other long-term debt                                        --           --
                                                         ---------     --------
     TOTAL LIABILITIES                                       8,147        7,888
                                                         ---------     --------
Stockholders' Equity
  Preferred Stock, par value $.01 per share;
     5,000,000 shares authorized; no shares
     issued and outstanding                                   --           --
  Common Stock, par value $.01 per share;
     20,000,000 shares authorized; 4,000,000 and
     2,300,000 shares issued and outstanding,
     respectively                                               40           23
  Additional paid-in capital                                 6,276        6,293
  Retained earnings (deficit)                               (2,624)      (3,510)
  Cumulative currency translation adjustment                   (33)         (28)
                                                         ---------     --------
                                                             3,659        2,778

     Less:  23,000 Treasury Shares, at cost                   (132)        (132)
                                                         ---------     --------
     TOTAL STOCKHOLDERS' EQUITY                              3,527        2,646
                                                         ---------     --------
     TOTAL LIABILITIES AND
       STOCKHOLDERS' EQUITY                              $  11,674     $ 10,534
                                                         =========     ========


            See accompanying notes to consolidated financial statements.
                                          4



<PAGE>


                           EUROMED, INC. AND SUBSIDIARIES

                          CONSOLIDATED STATEMENTS OF INCOME
                 (in thousands of US dollars, except per share data)
                                     (UNAUDITED)

 
<TABLE>
<CAPTION>
                                      Three months ended       Six months ended   
                                   ---------------------     -------------------
                                     June 30,    June 30,    June 30,   June 30, 
                                       1996        1997        1996       1997  
                                   ---------   ---------     -------  ----------       
<S>                                <C>         <C>           <C>      <C>    
Sales                              $   8,508   $   7,012     $17,876  $   14,144
Cost of goods sold                     7,636       6,404      16,185      13,267
                                   ---------   ---------     -------  ----------
  Gross profit                           872         608       1,691         877

Selling, general and 
  administrative expenses                600       1,016       1,091       1,687
                                   ---------   ---------     -------  ----------
Operating Profit (Loss)                  272        (408)        600        (810)

Interest income                           78           -         103          29
Interest (expense)                       (80)       (135)       (151)       (209)
                                   ---------   ---------     -------  ----------
Income (loss) before income 
  taxes                                  270        (543)        552        (990)

Income tax (expense) benefit             (83)        (11)       (189)        104
                                   ---------   ---------     -------  ----------
Net income (loss)                  $     187   $    (554)    $   363  $     (886)
                                   =========   =========     =======  ==========  
Earnings (loss) per share          $     .06   $    (.24)    $   .14  $     (.39)
                                   =========   =========     =======  ==========
Weighted Average Number of
  Common Shares Outstanding        3,150,000   2,300,000   2,650,824   2,300,000
                                   =========   =========   =========   =========    
</TABLE>
















            See accompanying notes to consolidated financial statements.

                                          5

<PAGE>

                           EUROMED, INC. AND SUBSIDIARIES

                        CONSOLIDATED STATEMENTS OF CASH FLOWS
                            (in thousands of US dollars)
                                     (UNAUDITED)

 
                                                              Six months ended 
                                                            --------------------
                                                            June 30,    June 30,
                                                             1996         1997 
                                                            --------    --------
CASH FLOWS FROM OPERATING ACTIVITIES:

Net income (loss)                                           $   363     $  (886)

Adjustments to reconcile
  cash flows from operations:
     Amortization of intangible assets                           43          51
     Depreciation expense                                        65          72

Changes in operating assets and liabilities:
  Trade accounts receivable                                     530        (409)
  Due from affiliated companies and other
     related parties                                            126         175
  Inventory                                                    (747)        917
  Other receivables and prepaid expenses                       (164)        360
  Trade accounts payable                                      1,168        (640)
  Due to affiliated companies, controlling
     interests and other related parties                         (1)        (69)
  Taxes payable and other accrued expenses                      137         403
                                                            -------     -------
Net cash provided by (used in) operating activities           1,520         (26)
                                                            -------     ------- 














            See accompanying notes to consolidated financial statements.
                                     (Continued)

\                                         6

<PAGE>

                           EUROMED, INC. AND SUBSIDIARIES

                        CONSOLIDATED STATEMENTS OF CASH FLOWS
                            (in thousands of US dollars)
                                     (UNAUDITED)
                                      Continued

 
                                                             Six months ended  
                                                            --------------------
                                                            June 30,    June 30,
                                                              1996        1997 
                                                            -------     -------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Acquisition of intangible assets                          $  (108)    $   (30)
  Borrowings by and repayments
     from customers                                            (433)        265
  Purchase of vehicles, furniture
     and equipment, at cost                                    (142)        (95)
  Net assets of discontinued operations                        --          (302)
                                                            -------     -------
     Net cash used in investing activities                     (683)       (162)
                                                            -------     -------
CASH FLOW FROM FINANCING ACTIVITIES:
  Common stock issued                                            12        --
  Borrowing under bank overdraft facility                    (2,483)        137
  Add paid in capital                                         5,862        --
  Change in long-term debt                                     (879)        (90)
                                                            -------     -------
     Net cash provided by financing activities                2,512          47
                                                            -------     -------
Effect of currency translation adjustment on cash                13           5
                                                            -------     -------
Net increase (decrease) in cash and cash equivalents          3,362        (136)

Cash and cash equivalents
  at the beginning of the six month period                       64         411
                                                            -------     -------
Cash and cash equivalents
  at the end of the six month period                        $ 3,426     $   275
                                                            =======     =======
Cash paid during the six month period:
  Interest                                                  $    91     $  --
  Income taxes                                              $  --       $  --





            See accompanying notes to consolidated financial statements.

                                          7

<PAGE>

                           EUROMED, INC. AND SUBSIDIARIES

                     NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                    JUNE 30, 1997


a.   Interim Financial Statements

     The consolidated  financial  information for the interim periods  presented
herein has not been audited by  independent  accountants,  but in the opinion of
management,  all adjustments  (consisting only of normal recurring  adjustments)
necessary for a fair presentation of the condensed  consolidated  balance sheets
and the  condensed  consolidated  statements  of earnings  and cash flows at the
dates and for the periods  indicated  have been made.  Results of operations for
interim periods are not necessarily  indicative of results of operations for the
respective full years.

b.   Description of business

     EuroMed's operating companies,  Galenica,  B.V. ("Galenica") and Confedera,
B.V. ("Confedera") (the "Companies"), both based in Oosterhout, The Netherlands,
have a  primary  business  of  the  wholesale  distribution  of  medicines.  The
Companies'  customers are primarily  located in The Netherlands.  The Companies'
products are readily  available  and the Companies are not dependent on a single
supplier or a few suppliers.

c.   Earnings Per Share

     Earnings per share are computed on the  weighted  average  number of shares
and  dilutive   equivalent  shares  of  common  stock  outstanding   during  the
three-month and six month periods ended June 30, 1997,  using the treasury stock
method.






















                                          8

<PAGE>

ITEM 2      MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
            RESULTS OF OPERATIONS.

GENERAL

     EuroMed,  Inc.  ("EuroMed" or the "Company") is an American  pharmaceutical
company involved in the import and wholesale distribution of branded and generic
medicines  within  The  Netherlands,  and in the  export  of  generic  medicines
throughout  the world.  EuroMed's  business is  influenced in general by various
economic, market and political trends in The Netherlands and Europe.

     EuroMed  operates  through  its  wholly-owned   Netherlands   subsidiaries,
Galenica,  B.V.  ("Galenica")  and  Confedera,  B.V.  ("Confedera")  in: (i) the
parallel import of EuroSpecialties,  which are prescription  ("ethical") branded
pharmaceuticals  registered and marketed  throughout Europe under  international
patent and a European brand; (ii) the wholesale  distribution of EuroSpecialties
and  generic   pharmaceuticals  to  pharmacies  and  other  wholesalers  in  The
Netherlands;  (iii) the wholesale  distribution of  DutchSpecialties,  which are
ethical  branded  pharmaceuticals  under  international  patent,  registered and
marketed as a brand  specifically  within The  Netherlands;  (iv) the  wholesale
distribution of over-the-counter  ("non-ethical")  pharmaceuticals to pharmacies
and  other  wholesalers  in The  Netherlands;  and (v)  the  export  of  generic
pharmaceuticals to developing nations of the world.

     Generics   are   therapeutically    equivalent   ethical    pharmaceuticals
manufactured  after  the  expiration  of  any  patents,  and  marketed  as  more
competitively priced substitutes for branded ethical  pharmaceuticals.  Parallel
imports are EuroSpecialties purchased within Europe's supranational free market,
the fifteen member European Union ("EU"),  imported into The Netherlands,  often
repackaged in the Dutch language,  and resold  wholesale to pharmacies and other
wholesalers at an arbitrage profit. Arbitrage is primarily the result of pricing
practices of multinational  pharmaceutical companies,  differing national health
and social policies among EU member states, and currency fluctuations within the
EU. The price differences for identical  EuroSpecialties  in different EU member
states make parallel  trade, or the trade of registered  pharmaceuticals  from a
low-price market into a high-price market, particularly attractive.

     The retail price of pharmaceuticals reflects not only direct production and
local  distribution  costs but also the cost of research and development.  These
costs vary  enormously  from one  country to another.  Fluctuations  in exchange
rates,  differential  pricing by  multinational  pharmaceutical  companies,  and
varying levels of pressure exerted by the system and social security services in
different EU member  states,  explain the  difference in prices  within  Europe,
especially for relatively old pharmaceuticals.

     On June 1, 1996, the government of The Netherlands  implemented legislation
that reduced the prices of  pharmaceuticals  to approximately the average prices
for equivalent  items in Belgium,  France,  Germany and Great  Britain.  The law
establishes a prohibition on the sale of pharmaceuticals to retail pharmacies at
a higher price than the maximum price decree.  This has effectively  reduced the
prices paid for pharmaceuticals in The Netherlands an average of 17.5%.

     On  March  25,  1997,   the  Board  of  Directors   approved  a  five-point
restructuring   plan,   which  has  since  been   implemented.   The  five-point
restructuring  plan  consists  of: (i) a  settlement  of all claims  between the
Company and Messrs.  Doets and Roozekrans,  whereby they returned 850,000 shares
of Common Stock to the Company (on April 18, 1997 these shares were  returned to
the Company  and  cancelled);  (ii) the sale of  Pluripharm  International  B.V.
("Pluripharm")  which took  place on July 4,  1997;  (iii) the return of 850,000
shares of Common stock by B.V.  Wisteria and its affiliates (which took place on
July 4, 1997) (iv) a plan to repurchase  in the  open-market  300,000  shares of
Common Stock; and (v) the undertaking of a new strategy of acquiring  healthcare
related  companies  or assets  outside of The  Netherlands,  including  possible
purchases of health care companies or assets in the United States. 9

<PAGE>

RESULTS OF OPERATIONS
Three Months Ended June 30, 1997 Compared to Three Months Ended June 30, 1996

     Sales. Sales of pharmaceuticals decreased 17.6% to $7,012,000 for the three
months ended June 30, 1997 compared with  $8,508,000  for the three months ended
June 30, 1996. The decrease in sales of  pharmaceuticals  was primarily a result
of the government  implementing  the maximum price law in June of 1996 which had
the  effect  of  lowering  the  consumption  of  pharmaceutical   products  from
wholesalers.

     Cost of  Goods  Sold.  Cost of  pharmaceuticals  sold  decreased  16.1%  to
$6,404,000  (91.3% of sales) for the three months  ended June 30, 1997  compared
with  $7,636,000  (89.8% of sales) for the three months ended June 30, 1996. The
decrease  in the cost of  pharmaceuticals  sold  was  primarily  a  result  of a
decrease in sales.  EuroMed's  cost of goods sold  percent was  increased by the
selling of inventory  purchased  at static rates and sold for the maximum  price
allowed by The Netherlands maximum price law.

     Gross Profit.  Gross profit decreased 30.3% to $608,000 (8.7% of sales) for
the three months ended June 30, 1997 compared with $872,000 (10.2% of sales) for
the three months ended June 30, 1996. The decrease in gross profit was primarily
a result of a decrease in sales, while the decrease in gross profit as a percent
of sales was primarily a result of client pharmacies  acquiring  products at the
rates dictated by the government imposed maximum price law.

     Selling and  General  and  Administrative  Expenses.  Selling,  general and
administrative  expenses  increased 69.3% to $1,016,000 (14.5% of sales) for the
three months ended June 30, 1997 compared with $600,000  (7.1% of sales) for the
three  months  ended  June 30,  1996.  The  increase  in  selling,  general  and
administrative  expenses  was  primarily  a result of a decrease in sales and an
increase in the number of  employees,  while the  increase as a percent of sales
was primarily a result of decreased operating efficiencies. Further, the Company
has  experienced  an  increase in  professional  fees  related to the  Company's
divestiture of Pluripharm,  continuing legal fees related to ongoing litigation,
and ongoing financial auditing costs.

     Net  Income.  Results of  operations  decreased  396% to a loss of $554,000
(7.9% of sales) for the three months ended June 30, 1997, compared with $187,000
net  income  (2.2% of sales)  for the three  months  ended  June 30,  1996.  The
decrease in net income was  primarily  the result of declining  sales volume and
the effect of the  implementation  of the maximum  price law upon the margins of
the Company.

RESULTS OF OPERATIONS
Six Months Ended June 30, 1997 Compared to Six Months Ended June 30, 1996

     Sales. Sales of pharmaceuticals  decreased 20.9% to $14,144,000 for the six
months ended June 30, 1997,  compared with  $17,876,000 for the six months ended
June 30, 1996. The decrease in sales of  pharmaceuticals  was primarily a result
of the government implementing the maximum price law in June 1996, which had the
effect of lowering the consumption of pharmaceutical  products from wholesalers.
Further,  the reduction in EuroMed sales can be attributed to the loss of retail
clients  purchasing  products  related to retail outlet  acquisitions and a more
competitive product discount program being offered by the Company's competitors.








                                         10

<PAGE>

     Cost of  Goods  Sold.  Cost of  pharmaceuticals  sold  decreased  18.0%  to
$13,267,000  (93.8% of sales) for the six months  ended June 30,  1997  compared
with  $16,185,000  (90.5% of sales) for the six months ended June 30, 1996.  The
decrease  in the cost of  pharmaceuticals  sold  was  primarily  a  result  of a
decrease  in sales,  while the  increase  as a percent of sales was  primarily a
result of a more diversified product inventory. Further, EuroMed's cost of goods
sold percent was increased by the selling of inventory purchased at static rates
and sold for the maximum price allowed by The Netherlands maximum price law.

     Gross Profit.  Gross profit decreased 48.1% to $877,000 (6.2% of sales) for
the six months ended June 30, 1997 compared with $1,691,000  (9.4% of sales) for
the six months ended June 30, 1996.  The decrease in gross profits was primarily
a result of a decrease in sales, while the decrease in gross profit as a percent
of sales was primarily a result of client pharmacies  acquiring  products at the
rates dictated by the government imposed maximum price law.

     Selling and  General  and  Administrative  Expenses.  Selling,  general and
administrative  expenses  increased 54.6% to $1,687,000 (11.9% of sales) for the
six months ended June 30, 1997 compared with $1,091,000  (6.1% of sales) for the
six  months  ended  June  30,  1996.  The  increase  in  selling,   general  and
administrative  expenses  was  primarily  a result of a decrease in sales and an
increase in the number of employees while the increase as a percent of sales was
primarily a result of decreased operating efficiencies. Further, the Company has
experienced  an  increase  in   professional   fees  related  to  the  Company's
divestiture of Pluripharm,  continuing legal fees related to ongoing litigation,
and ongoing financial auditing costs.

     Net  Income.  Results of  operations  decreased  344% to a loss of $886,000
(6.3% of sales) for the six months ended June 30, 1997  compared  with  $363,000
net income (2.0% of sales) for the six months ended June 30, 1996.  The decrease
in net income was primarily the result of declining  sales volume and the effect
of the implementation of the maximum price law upon the margins of the Company.


LIQUIDITY AND CAPITAL RESOURCES

     Cash (used in)  operations  was ($26,000) for the six months ended June 30,
1997 compared with  $1,520,000  provided by operations  for the six months ended
June 30, 1996. This decrease is a result of the Company's operating loss for the
six months ended June 30, 1997, and customers  increasing their payment time for
billed products they have received.

     EuroMed  has  experienced  an  increase  in the  accounts  receivable  from
$1,155,000 in 1996 to $1,564,000 in 1997. The increase in accounts receivable is
a result of an increase in payment time for billed  products  from the Company's
customers.

     Net cash  provided by financing  activities  was $47,000 for the six months
ended June 30, 1997 compared with  $2,512,000  for the six months ended June 30,
1996. The Company's initial public offering of shares on March 19, 1996, was the
significant source of cash for the six months ended June 30, 1996.

     Cash and cash  equivalents at the end of the six months ended June 30, 1997
was $275,000  compared  with  $3,426,000 at the end of six months ended June 30,
1996.

     Management  is of  the  opinion  that  the  proceeds  from  the  Pluripharm
divestiture,  together with existing borrowing capacity, should be sufficient to
finance and sustain operations at the present level for at least six months.



                                        11

<PAGE>

                                       PART II

                             ITEM 1.   LEGAL PROCEEDINGS

     The Company is currently involved in three legal proceedings,  two of which
were initiated by the Company against one of its former directors,  Gregory Alan
Gaylor,  and the others of which Mr.  Gaylor filed against the Company and other
parties.  The first of those  lawsuits is pending  against Mr. Gaylor and Robert
Jansonius,  another former Company  director,  in Nevada State Court.  There has
been no  substantive  activity  in this  lawsuit in the past three  months.  The
second  lawsuit was filed by the  Company  against  Gaylor in the United  States
District Court for the Northern District of Texas. Mr. Gaylor failed to enter an
appearance in this lawsuit,  and a Final Judgment was entered against Mr. Gaylor
on July 30, 1997. The Final Judgment  awarded the Company actual damages against
Mr. Gaylor in the amount of  $5,350,000,  and punitive  damages in the amount of
$10,700,000  for  Mr.  Gaylor's  malicious  and  intentional   interference  and
disparagement of the Company's management.

     The third lawsuit was filed by Mr. Gaylor and Jan Bouwman  (another  former
Company  director)  against the Company and others on May 23, 1997, in the State
District Court of Clark County,  Nevada.  The  allegations in this third lawsuit
include  claims  for  corporate   misgovernance,   breach  of  fiduciary   duty,
negligence,  breach of  contract,  and  defamation.  Mr.  Gaylor and Mr.  Bowman
initially  obtained an ex parte  temporary  restraining  order  prohibiting  the
Company's  divestiture of Pluripharm  International,  B.V.  ("Pluripharm"),  was
dissolved on May 30, 1997. Thereafter,  Mr. Gaylor and Mr. Bouwman amended their
lawsuit to assert claims  against the Company  derivatively  on behalf of all of
the Company's minority  shareholders.  Mr. Gaylor and Mr. Bouwman also requested
relief in the form of a  receivership  and an  injunction.  On July 3, 1997, the
Court  denied the  requested  relief but,  with the  agreement  of the  Company,
appointed a master to conduct an  investigation  of specific  transactions.  The
master's  report has not been  received  and  discovery in the case has not been
completed.  The  Company  denies  the  allegations  in the suit and  intends  to
vigorously defend the case.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

     On May 26,  1997,  EuroMed  held its annual  meeting of  stockholders  (the
"Meeting").  At the  meeting,  the  stockholders  considered  and voted upon the
following matters with the results indicated:

     (1) The following  directors,  constituting  all of the  directors  of the
         Company, were elected to serve as directors for the ensuing year:

                                                   Votes For     Votes Against

                  A. Francois Hinnen               2,119,700             4,000
                  Robert W. C. Veldman             2,119,700             4,000
                  David Anderson                   2,119,700             4,000
                  Jesse Shelmire IV                2,119,700             4,000
                  Robert Shuey III                 2,119,700             4,000

     (2) The  stockholders  of the Company  ratified  the  selection of Killman,
Murrell & Company,  P.C. as independent  public  accountants for the Company for
the fiscal year ending December 31, 1997, by the following vote: 2,119,700 votes
for, 4,000 votes against.

     Subsequent  to the meeting,  Mssrs.  Veldman and Anderson  have resigned as
directors of EuroMed.


                                         12

<PAGE>

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a)  Exhibits


                          Number and Description of Exhibit

Number   Exhibit Description

2.1      Assets and Liabilities  Transfer  Agreement by and between  Pluripharm
         International B.V. and Houdstermaatscheppy B.V. dated July 4, 1997.(2)

3.1      Restated Articles of Incorporation of the Registrant.(1)

3.2      Bylaws of the Registrant.(1)

4.1      Specimen Common Stock Certificate.(1)

10.1     Summary of Management Contract dated February 15, 1997, by and between 
         EuroMed, Inc. and the Anderson Group.(2)

27.1     Financial Data Schedule.(*)

         *     Filed herewith.

         (1)  Previously filed as an Exhibit to the company's Registration 
              Statement No. 33-80805 on Form S-1 and incorporated herein by 
              reference.

         (2)  Previouly filed as an Exhibit to Report in Form 8-K dated 
              July 4, 1997, and incorporated herein by reference

(b)      Reports of Form 8-K


         None





















                                         13

<PAGE>

                                     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.

EuroMed, Inc.

Dated:  August 14, 1997


     Signature                                                Title

 


/s/ A. Francois Hinnen                             President and
------------------------
A. Francois Hinnen                                 Chief Executive Officer




/s/ David Anderson                                 Chief Financial Officer
------------------------
David Anderson




























                                         14


<PAGE>

                                    Exhibit Index



Exhibit No.           Description

27.1                  Financial Data Schedule.(*)


(*)                   Filed herewith









































                                         15


<PAGE>