Newport Pharmaceuticals International

Newport Pharmaceuticals International Inc. said Wednesday that the Scandinavian licensee of its Isoprinosine drug has decided not to seek approval to market the drug as a pre-AIDS medication to several Western European countries. The Laguna Hills company Wednesday also announced earnings of $290,000 on revenue of $20.9 million for the second quarter, contrasted with a loss of $2.2 million on sales of $14.5 million in the corresponding period last year.

Newport Pharmaceuticals International Inc., anticipating the first annual profit in its 20-year history, changed its name Tuesday to SysteMed Inc. to reflect its role as a mail-order prescription drug distributor. Newport was founded as a drug company in 1971, but sales of its drug Isoprinosine now account for only 8% of revenues.

Newport Pharmaceuticals International Inc. said Wednesday that the Scandinavian licensee of its Isoprinosine drug has decided not to seek approval to market the drug as a pre-AIDS medication to several Western European countries. The Laguna Hills company Wednesday also announced earnings of $290,000 on revenue of $20.9 million for the second quarter, contrasted with a loss of $2.2 million on sales of $14.5 million in the corresponding period last year.

Newport Pharmaceuticals International Inc. said Thursday it has settled a breach-of-contract lawsuit involving its 1987 acquisition of a mail-order pharmacy business from Caremark Inc., a home health-care company formerly based in Irvine. Judy Archbald, Newport Pharmaceuticals' general counsel, said a settlement agreement signed Wednesday calls for Newport Pharmaceuticals to receive $4 million from Baxter Corp., the giant Illinois health-care conglomerate that now owns Caremark.

Newport Pharmaceuticals International Inc., a diversified health care company in Newport Beach, reported a loss of $4.96 million for 1988, which it attributed almost entirely to the cost of tests aimed at proving the effectiveness of Isoprinosine in the treatment of pre-AIDS conditions. The company reported revenue of $31 million for the year. In 1988, the company said, it invested over $4.

A trio of Orange County companies--a supplier of stop-smoking products, a pharmaceuticals firm and a computer maker--were among Wall Street's hottest performers Tuesday. Advantage Life Products Inc., a small Laguna Hills company, saw its stock price soar 30.2% after it announced the settlement of major lawsuit with its supplier of anti-smoking aids. The stock was the biggest percentage gainer on the over-the-counter market Tuesday. Right behind was Newport Pharmaceuticals International Inc.

Newport Pharmaceuticals International, which 2 months ago halted its research on a potential AIDS medication called Isoprinosine, said Friday that its decision could be reconsidered in light of a new study by an affiliate in Denmark. The Newport Beach drug company warned, however, that the results of clinical trials in Scandinavia are "very preliminary" and have yet to be reviewed by the firm.

Newport Pharmaceuticals International Inc. said Wednesday that it has negotiated a new settlement of shareholder lawsuits accusing the company of having misled investors about the prospects for a drug as a treatment for AIDS-related symptoms. Earlier this month, the Laguna Hills-based company disclosed that it had been forced to withdraw another settlement plan because of opposition by company bondholders.

Newport Pharmaceuticals International Inc. said Tuesday that its bondholders have scuttled a plan to settle shareholder lawsuits that have been plaguing the drug research and mail order firm for five years. The suits allege that the Laguna Hills company misled investors in promoting a drug as a possible treatment for the symptoms of AIDS in its early stages.

Newport Pharmaceuticals and its liability insurer have tentatively agreed to pay about $5.7 million to settle two shareholders' lawsuits alleging that the company misled investors in promoting an anti-AIDS drug in 1985 and 1986, the company said Monday. The civil lawsuits, which make identical complaints, were filed separately in state and federal courts in September, 1986.

Newport Pharmaceuticals International Inc. said Thursday it has settled a breach-of-contract lawsuit involving its 1987 acquisition of a mail-order pharmacy business from Caremark Inc., a home health-care company formerly based in Irvine. Judy Archbald, Newport Pharmaceuticals' general counsel, said a settlement agreement signed Wednesday calls for Newport Pharmaceuticals to receive $4 million from Baxter Corp., the giant Illinois health-care conglomerate that now owns Caremark.

Newport Pharmaceuticals International Inc. said Tuesday that its bondholders have scuttled a plan to settle shareholder lawsuits that have been plaguing the drug research and mail order firm for five years. The suits allege that the Laguna Hills company misled investors in promoting a drug as a possible treatment for the symptoms of AIDS in its early stages.

Newport Pharmaceuticals International Inc. said Wednesday that it has negotiated a new settlement of shareholder lawsuits accusing the company of having misled investors about the prospects for a drug as a treatment for AIDS-related symptoms. Earlier this month, the Laguna Hills-based company disclosed that it had been forced to withdraw another settlement plan because of opposition by company bondholders.

A trio of Orange County companies--a supplier of stop-smoking products, a pharmaceuticals firm and a computer maker--were among Wall Street's hottest performers Tuesday. Advantage Life Products Inc., a small Laguna Hills company, saw its stock price soar 30.2% after it announced the settlement of major lawsuit with its supplier of anti-smoking aids. The stock was the biggest percentage gainer on the over-the-counter market Tuesday. Right behind was Newport Pharmaceuticals International Inc.

Interest in an all but forgotten experimental AIDS drug, isoprinosine--manufacturered by Newport Pharmaceuticals International Inc. of Laguna Hills--has been renewed by the New England Journal of Medicine's decision to publish a favorable Scandinavian study of the medication. "Treatment with isoprinosine appears to delay progression to AIDS" in infected individuals, Dr.