(Source: MARKETWIRE)Stellar Pharmaceuticals Inc. ("Stellar" or the "Company")(OTCBB: SLXCF) a Canadian pharmaceutical developer and marketer of high quality, cost effective products for select health care markets, today announced that its second quarter revenues increased by 65.8% to $1,074,300 compared to $647,900 for the same period last year and that the Company had a profit of $164,700 for the quarter compared to a loss of $68,000 in the second quarter of 2008. This is the third consecutive quarter that the Company has shown a profit.

For the six month period ended June 30, 2009 Stellar's total revenues increased by 57.1% to $1,846,800 compared to $1,175,300 for the same period in 2008. Canadian sales for NeoVisc and Uracyst were up by 22.2% and 21.9% respectively for the period. International sales increased by 121.4% for this period as the Company's European partners continue to gain traction with both NeoVisc and Uracyst sales. The Company showed a profit of $189,900 for the first half of 2009 compared to a loss of $166,800 over the same period in 2008.

Peter Riehl, Stellar's President and CEO, stated, "This is the strongest second quarter in the Company's history, with revenues up in all markets. We are very pleased to show profitability for the quarter and on a year-to-date basis, this currently puts the Company in a good position for strong operating results for the end of 2009. Besides these encouraging results, it has also been a very active quarter in other areas; Watson Pharmaceuticals received an IDE from the FDA and has now started a pilot clinical trial at a number of centers in the USA, the Company also launched its NeoVisc Single Dose (one injection) in mid June and we are very pleased with initial sales generated. In addition, the Company continues to actively search for new partners to out-license its products to around the world. It is very rewarding to see this growth and escalating business development activities, given the challenging economic times."

About Stellar Pharmaceuticals Inc.

Stellar has developed and is marketing direct in Canada and in countries around the world through out-license agreements two products based on its core polysaccharide technology: NeoVisc(R), for the treatment of osteoarthritis; and Uracyst(R), its patented technology for treatment of interstitial cystitis/painful bladder syndrome an inflammatory disease of the urinary bladder wall. Stellar also has in-licensing agreement for the distribution and sale of NMP22(R) BladderChek(R), a proteomics-based diagnostic test for the diagnosis and monitoring of bladder cancer.

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including increased competition; the ability of the Company to expand its operations, to attract and retain qualified professionals, technological obsolescence; general economic conditions; and other risks detailed from time to time in the Company's filings.

                             STELLAR PHARMACEUTICALS INC.