-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 L7vQnc4fPveVit7TrFKpIHtzQl9nIcNhkmVfujeBF8So5SIc+w0S+4E92jlMbYI+
 YgQ0SqTSSS3DaK4S7zgcOg==

<SEC-DOCUMENT>0001209191-04-040714.txt : 20040813
<SEC-HEADER>0001209191-04-040714.hdr.sgml : 20040813
<ACCEPTANCE-DATETIME>20040813120331
ACCESSION NUMBER:		0001209191-04-040714
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040812
FILED AS OF DATE:		20040813

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SKELLY WILLIAM G
		CENTRAL INDEX KEY:			0001058352

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10113
		FILM NUMBER:		04972637

	BUSINESS ADDRESS:	
		STREET 1:		C/O CENTRAL BIOMEDIA
		STREET 2:		9900 PFLUMM
		CITY:			LENEXA
		STATE:			KS
		ZIP:			64155

	MAIL ADDRESS:	
		STREET 1:		C/O HALSEY DRUG CO INC
		STREET 2:		1827 PACIFIC STREET
		CITY:			BROOKLYN
		STATE:			NY
		ZIP:			11233

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HALSEY DRUG CO INC/NEW
		CENTRAL INDEX KEY:			0000786947
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				110853640
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		16235 STATE ROAD 17
		CITY:			CULVER
		STATE:			IN
		ZIP:			46511
		BUSINESS PHONE:		847-705-7709

	MAIL ADDRESS:	
		STREET 1:		616 NORTH COURT
		STREET 2:		.
		CITY:			PALATINE
		STATE:			IL
		ZIP:			60067
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bny99731bny1wgs.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-08-12</periodOfReport>

    <issuer>
        <issuerCik>0000786947</issuerCik>
        <issuerName>HALSEY DRUG CO INC/NEW</issuerName>
        <issuerTradingSymbol>HDGC.OB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001058352</rptOwnerCik>
            <rptOwnerName>SKELLY WILLIAM G</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ACURA PHARMACEUTICALS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>616 N. NORTH COURT, SUITE 120</rptOwnerStreet2>
            <rptOwnerCity>PALATINE</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60067</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Director Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>.36</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-08-12</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2004-08-12</value>
            </exerciseDate>
            <expirationDate>
                <value>2014-08-12</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>50000</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>240000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Director Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>.36</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-08-12</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2014-08-12</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>50000</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>290000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Director Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>.36</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-08-12</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>0</value>
                    <footnoteId id="F3"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2004-08-12</value>
            </exerciseDate>
            <expirationDate>
                <value>2014-08-12</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>100000</value>
                    <footnoteId id="F3"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>390000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Option to purchase 50,000 shares of the Issuer's common stock, $.01 par value per share.</footnote>
        <footnote id="F2">Option vests and is exercisable 25% per quarter commencing on November 12, 2004 until fully vested.</footnote>
        <footnote id="F3">Option to purchase 100,000 shares of the Issuer's common stock $.01 par value per share.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ William G. Skelly</signatureName>
        <signatureDate>2004-08-12</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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