SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 12B-25

                           Notification of Late Filing
                          Commission File Number O-1437
                                  (Check one):
(  ) Form 10-K   (  ) Form 11-K   (  ) Form 20-F  (x) Form 10-Q  (  ) Form N-SAR

          For period ended              March 31, 1997
( )  Transition Report on Form 10-K
( )  Transition Report on Form 20-F
( )  Transition Report on Form 11-K
( )  Transition Report on Form 10-Q
( )  Transition Report on Form N-SAR

          For the transition period ended:

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     Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.

     If the notification relates to a portion of the filing checked above,
identify the item(s) to which the notification relates: Not Applicable

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PART I - REGISTRANT INFORMATION
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     Full name of registrant       HALSEY DRUG CO., INC.
     Former name if applicable

Address of principal executive office (Street and Number):   1827 Pacific Street
City, State and Zip Code:      Brooklyn, New York  11233

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PART II - RULE 12B-25(B) AND (C)
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If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check where appropriate.)

( ) (a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;

(x) (b) The subject annual report, semi-annual report, transition report on Form
10-K, 20-F, 11-K or Form N-SAR, or portion thereof will be filed on or before
the 15th calendar day following the prescribed due date; or the subject
quarterly report or transition report on Form 10-Q, or portion, thereof will be
filed on or before the fifth calendar day following the prescribed due date, and



( ) (c) The accountant's statement or other exhibit required by Rule 12b-25(c)
has been attached if applicable.

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PART III - NARRATIVE
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     State below in reasonable detail the reasons why Form 10-K, 11-K, 20-F,
10-Q, N-SAR or the transition report portion thereof could not be filed within
the prescribed time period. (Attach extra sheets if needed.)

     Information relevant to the period which is required to complete the report
is not available on a timely basis.

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PART IV - OTHER INFORMATION
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     (1) Name and telephone number of person to contact in regard to this
notification.

                   ROSENDO FERRAN              (718)           467-7500
                      (Name)                 (Area Code)  (Telephone Number)

     (2) Have all other periodic reports required under Section 13 or 15(d) or
the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
of 1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed? If the answer is no,
identify report(s). 
                                                       (X) Yes        ( ) No

     (3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?

                                                       ( ) Yes        (X) No

     If so, attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.



                              HALSEY DRUG CO., INC.
                   Name of Registrant as Specified in Charter)
Has  caused  this  notification  to be signed on its  behalf by the  undersigned
thereunto duly authorized.

Date:  May 15, 1997         By /s/ Rosendo Ferran
                               -------------------------------
                                   Rosendo Ferran,
                                   President and Chief Executive Officer