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Ribapharm Inc

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BUSINESS
January 9, 2003 | From Bloomberg News
Roche Holding settled a dispute with ICN Pharmaceuticals Inc. and Ribapharm Inc. over patents for the hepatitis C drug ribavirin, which the Swiss drug maker uses with one of its products. The companies will stop all legal action over ribavirin, and Roche will license the drug from Ribapharm, the Swiss drug maker said. Roche will continue to register and market its own version of ribavirin, called Copegus, worldwide. Terms of the agreement were not disclosed.
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BUSINESS
August 1, 2003 | Ronald D. White
Ribapharm Inc. of Costa Mesa reported second-quarter profit of $25.8 million, or 17 cents a share, down 17% from $31.1 million, or 21 cents, for the same period a year ago. Revenue fell 21.3%, to $52 million. "Our financial results during the quarter were impacted by several factors, including the effects of increasing competition," said President and Chief Executive Kim D. Lamon. The company is known for its hepatitis C drug ribavirin. Ribapharm shares rose 23 cents to close at $5.
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BUSINESS
February 4, 2003 | From Bloomberg News
Ribapharm Inc. named William Comer as chief financial officer and Mel Deutsch as general counsel, replacing executives who resigned last month amid a dispute with majority shareholder ICN Pharmaceuticals Inc. Comer most recently worked as CFO of Premier Practice Management Inc., Ribapharm said. Deutsch had been general counsel at the same company. Shares of ICN fell 32 cents to $10.84 on the New York Stock Exchange. Ribapharm fell 4 cents to $6.36, also on the NYSE.
BUSINESS
July 31, 2003 | Ronald D. White
ICN Pharmaceuticals Inc. extended -- for the third time -- an offer to buy the shares it doesn't already own of its former subsidiary Ribapharm Inc. ICN is offering to pay $5.60 a share, or about $168 million, for what amounts to 19.9% of the company. ICN said its latest offer would expire Friday at 2 p.m. The Ribapharm board maintains that the offer is inadequate and has adopted a "poison pill" defense. Ribapharm shares fell 33 cents to $5.02 and ICN shares fell 59 cents to $15.
BUSINESS
July 31, 2003 | Ronald D. White
ICN Pharmaceuticals Inc. extended -- for the third time -- an offer to buy the shares it doesn't already own of its former subsidiary Ribapharm Inc. ICN is offering to pay $5.60 a share, or about $168 million, for what amounts to 19.9% of the company. ICN said its latest offer would expire Friday at 2 p.m. The Ribapharm board maintains that the offer is inadequate and has adopted a "poison pill" defense. Ribapharm shares fell 33 cents to $5.02 and ICN shares fell 59 cents to $15.
BUSINESS
October 8, 2002 | Bloomberg News
Ribapharm Inc. shares fell for a second day after Schering-Plough Corp. said it expects increased generic competition for a liver disease drug sold by the two companies. Shares of Ribapharm fell 50 cents, or 14%, to $3.15 in NYSE trading. ICN Pharmaceuticals Inc., which owns 83% of Ribapharm, fell 80 cents to $7.39. Ribapharm licenses ribavirin, its only product, to Schering-Plough, which sells the drug as Rebetol in combination with its Peg-Intron medicine. The drugs treat hepatitis C.
BUSINESS
August 1, 2003 | Ronald D. White
Ribapharm Inc. of Costa Mesa reported second-quarter profit of $25.8 million, or 17 cents a share, down 17% from $31.1 million, or 21 cents, for the same period a year ago. Revenue fell 21.3%, to $52 million. "Our financial results during the quarter were impacted by several factors, including the effects of increasing competition," said President and Chief Executive Kim D. Lamon. The company is known for its hepatitis C drug ribavirin. Ribapharm shares rose 23 cents to close at $5.
BUSINESS
June 26, 2003 | Ron White
ICN Pharmaceuticals Inc. of Costa Mesa filed a lawsuit to block a poison pill that Ribapharm Inc. created to obstruct ICN's takeover bid. ICN owned all of Ribapharm until 19.9% of its shares were spun off in an initial public offering last year. ICN submitted a tender offer last week to buy back the shares, but Ribapharm's board objected, saying that the $168-million offer was inadequate. The suit was filed in a Delaware Chancery Court.
BUSINESS
February 11, 2003 | From Bloomberg News
Shares of Ribapharm Inc., a maker of hepatitis C drug ribavirin, fell 19% after marketing partner Schering-Plough Corp. settled a patent lawsuit with a rival drug maker. The shares fell $1.13 to $4.73 on the NYSE. They have fallen 53% in the last 12 months. Schering-Plough said it would license patents it holds on ribavirin to Three Rivers Pharmaceuticals, which is waiting for U.S. regulatory approval to sell a version of the medicine.
BUSINESS
January 1, 2003 | From Bloomberg News
Ribapharm Inc. will have to pay three executives about $4.6 million in severance if they carry out a threat to quit over majority shareholder ICN Pharmaceuticals Inc.'s plan to replace all but one of Ribapharm's directors. Ribapharm also may owe the directors extra payments to cover taxes, the company said in a Securities and Exchange Commission filing. Chief Executive Johnson Y.N.
BUSINESS
June 26, 2003 | Ron White
ICN Pharmaceuticals Inc. of Costa Mesa filed a lawsuit to block a poison pill that Ribapharm Inc. created to obstruct ICN's takeover bid. ICN owned all of Ribapharm until 19.9% of its shares were spun off in an initial public offering last year. ICN submitted a tender offer last week to buy back the shares, but Ribapharm's board objected, saying that the $168-million offer was inadequate. The suit was filed in a Delaware Chancery Court.
BUSINESS
June 24, 2003 | Ronald D. White, Times Staff Writer
When ICN Pharmaceuticals Inc. replaced the top managers and board members of its rebellious offspring, Ribapharm Inc., in January, it supposedly marked the end of a bitter power struggle over the small biotechnology company. Maybe not. Ribapharm's board on Monday urged shareholders to reject ICN's unsolicited offer to buy back for $5.60 a share the rest of Ribapharm stock it doesn't already own.
BUSINESS
May 2, 2003 | Ronald D. White, Times Staff Writer
Ribapharm Inc. reported Thursday a 30% drop in its first-quarter profit because its hepatitis C drug faced increased competition . The Costa Mesa-based biotech company posted a $21-million profit, or 14 cents a share, in the quarter, compared with $30 million, or 20 cents, in the same period a year earlier. ICN Pharmaceuticals Inc.
BUSINESS
February 11, 2003 | From Bloomberg News
Shares of Ribapharm Inc., a maker of hepatitis C drug ribavirin, fell 19% after marketing partner Schering-Plough Corp. settled a patent lawsuit with a rival drug maker. The shares fell $1.13 to $4.73 on the NYSE. They have fallen 53% in the last 12 months. Schering-Plough said it would license patents it holds on ribavirin to Three Rivers Pharmaceuticals, which is waiting for U.S. regulatory approval to sell a version of the medicine.
BUSINESS
February 4, 2003 | From Bloomberg News
Ribapharm Inc. named William Comer as chief financial officer and Mel Deutsch as general counsel, replacing executives who resigned last month amid a dispute with majority shareholder ICN Pharmaceuticals Inc. Comer most recently worked as CFO of Premier Practice Management Inc., Ribapharm said. Deutsch had been general counsel at the same company. Shares of ICN fell 32 cents to $10.84 on the New York Stock Exchange. Ribapharm fell 4 cents to $6.36, also on the NYSE.
BUSINESS
January 9, 2003 | From Bloomberg News
Roche Holding settled a dispute with ICN Pharmaceuticals Inc. and Ribapharm Inc. over patents for the hepatitis C drug ribavirin, which the Swiss drug maker uses with one of its products. The companies will stop all legal action over ribavirin, and Roche will license the drug from Ribapharm, the Swiss drug maker said. Roche will continue to register and market its own version of ribavirin, called Copegus, worldwide. Terms of the agreement were not disclosed.
BUSINESS
January 3, 2003 | From Bloomberg News
Ribapharm Inc. increased its severance-package estimates for three executives to $4.9 million from $4.6 million if they quit over majority shareholder ICN Pharmaceuticals Inc.'s plan to replace all but one of Ribapharm's directors. Ribapharm also may owe the executives extra payments to cover taxes, the firm said in a filing with the Securities and Exchange Commission.
BUSINESS
December 27, 2002 | From Dow Jones/Associated Press
Biotechnology company Ribapharm Inc. lashed back against parent company ICN Pharmaceuticals Inc. as the two waged a war of words over a proposed spinoff. ICN, which owns 80% of Ribapharm, obtained a temporary restraining order Tuesday from the Delaware Chancery Court restricting the board of Ribapharm from taking actions outside the "ordinary course of business" pending ICN's removal of five of six Ribapharm directors.
BUSINESS
January 6, 2003 | James F. Peltz, Times Staff Writer
Last April 12, Dr. Johnson Y.N. Lau had every reason to beam as he rang the closing bell at the New York Stock Exchange. At age 41, Lau was basking in the latest achievement of his already accomplished career as a medical scientist and researcher. Shares of his new drug company, Ribapharm Inc., had just finished their first day of trading on the Big Board, and the small firm's future looked bright. Only nine months later, Costa Mesa-based Ribapharm is in turmoil.
BUSINESS
January 3, 2003 | From Bloomberg News
Ribapharm Inc. increased its severance-package estimates for three executives to $4.9 million from $4.6 million if they quit over majority shareholder ICN Pharmaceuticals Inc.'s plan to replace all but one of Ribapharm's directors. Ribapharm also may owe the executives extra payments to cover taxes, the firm said in a filing with the Securities and Exchange Commission.
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