Icn Galenika

ICN Galenika, a joint venture between a Yugoslav pharmaceutical company and SPI Pharmaceuticals Inc. in Costa Mesa, has reduced its stake in SPI to 3.8%, according to a filing with the Securities and Exchange Commission. ICN Galenika sold 800,000 shares, or 4.4%, of SPI's common stock between Jan. 7 and March 3. The shares were sold at prices ranging from $25.47 to $30.57, according to the filing. SPI owns 75% of ICN Galenika as part of a joint venture agreement.

Shareholders of a Belgrade pharmaceutical plant seized early last year from ICN Pharmaceuticals Inc. agreed Tuesday that majority ownership should be returned to the Costa Mesa drug maker, Yugoslavia's Beta news agency reported. Beta quoted Vladan Batic, ICN's lawyer in Yugoslavia, as saying that the shareholders, who include workers at the ICN Galenika plant, had agreed to set up a crisis committee to run the factory temporarily.

SPI Pharmaceuticals Inc.'s foray into Eastern Europe begins today as it takes control of Yugoslavia's leading drug manufacturer, Galenika Pharmaceuticals Inc. The new subsidiary, called ICN Galenika, is a joint venture with SPI owning 75% and Galenika, a state-owned company with a smattering of other small industrial ventures, retaining a 25% interest. Three of the company's four directors will come from SPI, while Dr.

Shareholders of a Belgrade pharmaceutical plant seized early last year from ICN Pharmaceuticals Inc. agreed Tuesday that majority ownership should be returned to the Costa Mesa drug maker, Yugoslavia's Beta news agency reported. Beta quoted Vladan Batic, ICN's lawyer in Yugoslavia, as saying that the shareholders, who include the workers at the ICN Galenika plant, had agreed to set up a crisis committee to run the factory temporarily.

SPI Pharmaceuticals Inc. has signed a definitive agreement to merge with Yugoslavia's largest drug and chemical manufacturer and will form a new company that is expected to have expected annual sales of $370 million. Under the agreement announced Thursday, the assets of Belgrade-based Galenika Pharmaceuticals would be transferred to a new joint-venture company, ICN Galenika Inc., to be based in Costa Mesa.

Belgrade Deal Boosts ICN Stock: ICN Pharmaceuticals Inc.'s stock jumped 25% over the past two days on an announcement that its Belgrade subsidiary has obtained approval to import raw materials into the war-torn region that was Yugoslavia. The Costa Mesa company's stock, which had been languishing in the $10 range, jumped $1.37 a share Friday on the New York Stock Exchange, to close at $11.75 a share. ICN's chief subsidiary, SPI Pharmaceuticals Inc.

Buoyed by its merger with Yugoslavia's largest drug manufacturer, SPI Pharmaceuticals Inc. on Monday reported sharply higher profits and sales for the second quarter. The Costa Mesa-based subsidiary of ICN Pharmaceuticals Inc. reported net income of $5.7 million, up 42% from $4 million for the corresponding period last year. Sales for the quarter ended May 31 were $54.6 million, up 71% from $32 million a year earlier. The company said totals for the quarter included $19.

ICN Pharmaceuticals Inc. Thursday said it expects a 30% increase in first-quarter earnings, due in large part to sales from its Eastern European subsidiary. Preliminary first-quarter earnings for the period ended March 31 show profits of "at least" $6 million, or 45 cents a share, compared to $4.6 million, or 37 cents a share, for the same period last year, said chairman and CEO Milan Panic.

Shareholders of a Belgrade pharmaceutical plant seized early last year from ICN Pharmaceuticals Inc. agreed Tuesday that majority ownership should be returned to the Costa Mesa drug maker, Yugoslavia's Beta news agency reported. Beta quoted Vladan Batic, ICN's lawyer in Yugoslavia, as saying that the shareholders, who include the workers at the ICN Galenika plant, had agreed to set up a crisis committee to run the factory temporarily.

Milan Panic, the controversial chairman of ICN Pharmaceuticals Inc. and former prime minister of Yugoslavia, was in his native Belgrade on Monday trying to regain control of a drug manufacturing plant seized from his company by his nemesis, Slobodan Milosevic. Panic, 70, who lost to Milosevic in the 1992 presidential election, has been battling to win back ICN's biggest factory ever since Milosevic's troops stormed the plant and took control nearly two years ago.

Milan Panic, the controversial chairman of ICN Pharmaceuticals Inc. and former prime minister of Yugoslavia, was in his native Belgrade on Monday trying to regain control of a drug manufacturing plant seized from his company by his nemesis, Slobodan Milosevic. Panic, 70, who lost to Milosevic in the 1992 presidential election, has been battling to win back ICN's biggest factory ever since Milosevic's troops stormed the plant and took control nearly two years ago.

Milan Panic, the besieged chairman of Costa Mesa-based ICN Pharmaceuticals Inc., is temporarily taking over management of the drug firm's Yugoslav subsidiary, the company announced Friday. Panic, assigned to be in charge of Belgrade-based ICN Galenika for the next three months, remains chairman, chief executive and president of the parent company, it was announced. Company officials declined to predict how Panic will divide his time between Europe and his company duties here.

Belgrade Deal Boosts ICN Stock: ICN Pharmaceuticals Inc.'s stock jumped 25% over the past two days on an announcement that its Belgrade subsidiary has obtained approval to import raw materials into the war-torn region that was Yugoslavia. The Costa Mesa company's stock, which had been languishing in the $10 range, jumped $1.37 a share Friday on the New York Stock Exchange, to close at $11.75 a share. ICN's chief subsidiary, SPI Pharmaceuticals Inc.

ICN Pharmaceuticals Inc. Thursday said it expects a 30% increase in first-quarter earnings, due in large part to sales from its Eastern European subsidiary. Preliminary first-quarter earnings for the period ended March 31 show profits of "at least" $6 million, or 45 cents a share, compared to $4.6 million, or 37 cents a share, for the same period last year, said chairman and CEO Milan Panic.

ICN Galenika, a joint venture between a Yugoslav pharmaceutical company and SPI Pharmaceuticals Inc. in Costa Mesa, has reduced its stake in SPI to 3.8%, according to a filing with the Securities and Exchange Commission. ICN Galenika sold 800,000 shares, or 4.4%, of SPI's common stock between Jan. 7 and March 3. The shares were sold at prices ranging from $25.47 to $30.57, according to the filing. SPI owns 75% of ICN Galenika as part of a joint venture agreement.

Buoyed by its merger with Yugoslavia's largest drug manufacturer, SPI Pharmaceuticals Inc. on Monday reported sharply higher profits and sales for the second quarter. The Costa Mesa-based subsidiary of ICN Pharmaceuticals Inc. reported net income of $5.7 million, up 42% from $4 million for the corresponding period last year. Sales for the quarter ended May 31 were $54.6 million, up 71% from $32 million a year earlier. The company said totals for the quarter included $19.

Shareholders of a Belgrade pharmaceutical plant seized early last year from ICN Pharmaceuticals Inc. agreed Tuesday that majority ownership should be returned to the Costa Mesa drug maker, Yugoslavia's Beta news agency reported. Beta quoted Vladan Batic, ICN's lawyer in Yugoslavia, as saying that the shareholders, who include workers at the ICN Galenika plant, had agreed to set up a crisis committee to run the factory temporarily.

SPI Pharmaceuticals Inc.'s foray into Eastern Europe begins today as it takes control of Yugoslavia's leading drug manufacturer, Galenika Pharmaceuticals Inc. The new subsidiary, called ICN Galenika, is a joint venture with SPI owning 75% and Galenika, a state-owned company with a smattering of other small industrial ventures, retaining a 25% interest. Three of the company's four directors will come from SPI, while Dr.