June 5, 1987 |
ICN Pharmaceuticals, the embattled Costa Mesa drug maker, filed an $800-million suit Thursday against a New York securities firm for allegedly campaigning to drive down the company's stock price by circulating "false, slanderous and malicious" information about ICN's anti-viral compound, ribavirin. The complaint, filed in U.S.
October 21, 1987 |
The Food and Drug Administration has given ICN Pharmaceuticals of Costa Mesa permission to begin new clinical trials of ribavirin, a drug that the company hopes will be effective in combatting early-stage AIDS. In doing so, FDA spokesman Brad Stone said, the agency has lifted "a de facto clinical hold" on further human testing of ICN's proprietary drug ribavirin. The test ban was imposed because of previous FDA concerns about the drug's safety.
October 8, 1991 |
The Securities and Exchange Commission on Monday sued ICN Pharmaceuticals and its Viratek Inc. subsidiary for alleged securities fraud, claiming that the firms knowingly misled the public about Viratek's ribavirin drug and its effectiveness in fighting the AIDS virus. Without admitting or denying any wrongdoing, the companies immediately settled the suit by signing a consent decree in which they agreed not to violate securities laws in future.
March 3, 2000 |
A year after suffering a crushing loss in Eastern Europe, ICN Pharmaceuticals Inc. on Thursday reported a strong turnaround, and its controversial chairman vowed again to reclaim the company's plant seized by Yugoslav strongman Slobodan Milosevic. The multinational drug maker said it earned a record $118.6 million last year. It was a dramatic recovery from a $352.
September 23, 1997 |
ICN Pharmaceuticals Inc.'s stock shot up Monday on news that tests showed its drug ribavirin may be effective in treating hepatitis when combined with a drug manufactured by giant Schering-Plough Corp. ICN stock climbed $6.06 a share to $49.88 in heavy trading on the New York Stock Exchange after hitting a 52-week high of $52.88 earlier in the session. Nearly 2.7 million shares changed hands, 10 times the stock's recent average daily volume.
September 4, 1987 |
For the second time in five months, the U.S. Food and Drug Administration has refused to authorize additional testing of ribavirin as a potential early stage AIDS treatment, ICN Pharmaceuticals Inc., the maker of the controversial drug, confirmed Thursday. An FDA spokesman said the Costa Mesa company, which has been trying since last year to win approval of the drug as an AIDS treatment, still had not demonstrated that ribavirin "meets the agency's safety and efficacy standards."