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BUSINESS
September 6, 2002 | From Bloomberg News
ICN Pharmaceuticals Inc.'s former chairman, Milan Panic, is adding to his investment in the Costa Mesa drug company he founded, buying almost $8 million worth of its convertible bonds on the open market, a regulatory filing shows. The 72-year-old executive, who founded ICN in a Los Angeles garage in 1959, resigned as chairman and chief executive in June after dissident shareholders won a proxy fight to gain control of the company's board.
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BUSINESS
November 8, 2002 | Ronald D. White, Times Staff Writer
Investors boosted ICN Pharmaceuticals Inc.'s shares by 30% Thursday after the Costa Mesa company announced a new management team, a restructuring plan and better-than-expected earnings. The company said Robert O'Leary, who had been serving as interim chief executive, will take the position permanently. ICN also named Timothy Tyson, an executive at British drug maker GlaxoSmithKline, as president and chief operating officer, and Bary G.
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BUSINESS
November 8, 2002 | Ronald D. White, Times Staff Writer
Investors boosted ICN Pharmaceuticals Inc.'s shares by 30% Thursday after the Costa Mesa company announced a new management team, a restructuring plan and better-than-expected earnings. The company said Robert O'Leary, who had been serving as interim chief executive, will take the position permanently. ICN also named Timothy Tyson, an executive at British drug maker GlaxoSmithKline, as president and chief operating officer, and Bary G.
BUSINESS
September 6, 2002 | From Bloomberg News
ICN Pharmaceuticals Inc.'s former chairman, Milan Panic, is adding to his investment in the Costa Mesa drug company he founded, buying almost $8 million worth of its convertible bonds on the open market, a regulatory filing shows. The 72-year-old executive, who founded ICN in a Los Angeles garage in 1959, resigned as chairman and chief executive in June after dissident shareholders won a proxy fight to gain control of the company's board.
BUSINESS
October 26, 2000 | SHARON BERNSTEIN, TIMES STAFF WRITER
More turmoil rocked the nation's largest Medicare HMO on Wednesday as Chief Executive Robert O'Leary resigned after just three months on the job. The move came two weeks after PacifiCare Health Systems of Santa Ana said it might lose money in the third quarter, an announcement that sent its already beleaguered stock down to record lows. On Wednesday, the stock plunged another 13%, closing down $1.56 at $10.44 on the New York Stock Exchange.
BUSINESS
November 10, 2000 | SHARON BERNSTEIN, TIMES STAFF WRITER
Secure Horizons, the nation's largest Medicare HMO, said Thursday it will freeze membership next year in 41 counties nationwide, most of them in California. The announcement that new members will not be accepted in 24 California counties, among them Riverside, San Bernardino, Santa Barbara, Kern, Alameda and Contra Costa, came as Secure Horizons' parent company reported disappointing results for the third quarter, though they beat estimates. Santa Ana-based PacifiCare Health Systems Inc.
NEWS
January 16, 1987
A drug ring that sold cocaine imported from Colombia at pizza parlors in Washington, D.C., was broken up with a series of arrests in several states, federal agents said. Eleven kilograms of cocaine, valued between $35,000 and $40,000 each, were purchased by an undercover federal agent during the six-month investigation, said Robert O'Leary, a Drug Enforcement Administration spokesman. Authorities said agents began arresting 33 defendants in the Washington area, Texas, California and New York.
BUSINESS
April 11, 1989 | John Charles Tighe, Times staff writer
Standard & Poors Corp. and Moody's Investors Service have affirmed their high credit ratings for St. Joseph Health System in Orange. Officials of St. Joseph, a nonprofit operator of several hospitals and the Health Plan of America health maintenance organization, made their biannual presentation to the financial rating services in December. S&P gave the company an A+ rating; Moody's gave it an A1. The "A" rating is considered "investment grade," indicating a minimal risk that a corporate bond issue will default.
TRAVEL
January 18, 1998
The Mobil Travel Guide's 1998 five-star list, issued last week, adds two first-timers to its highest award for lodgings and restaurants: The Point resort in Upper Saranac Lake in New York, and the Grill Room restaurant at the Windsor Court Hotel in New Orleans. In California, the Ritz-Carlton Laguna Niguel was dropped from the five-star roster because it changed owners last fall and "we want to stay tuned and see what, if anything, happens," explained Mobil spokesman Robert O'Leary.
BUSINESS
December 22, 2000
Howard Phanstiel, PacifiCare Health Systems' acting president and chief executive, has been named to fill the posts, the company said Thursday. Phanstiel had been acting CEO of the Santa Ana-based managed-care company since October, when he was picked to succeed Robert O'Leary, who had resigned after three months. Phanstiel joined PacifiCare in July as chief financial officer. The company has been struggling to turn itself around after a series of losses.
BUSINESS
October 26, 2000 | SHARON BERNSTEIN, TIMES STAFF WRITER
More turmoil rocked the nation's largest Medicare HMO on Wednesday as Chief Executive Robert O'Leary resigned after just three months on the job. The move came two weeks after PacifiCare Health Systems of Santa Ana said it might lose money in the third quarter, an announcement that sent its already beleaguered stock down to record lows. On Wednesday, the stock plunged another 13%, closing down $1.56 at $10.44 on the New York Stock Exchange.
BUSINESS
August 15, 2002 | Bloomberg News
ICN Pharmaceuticals Inc. said it paid $12 million in severance to company founder Milan Panic, who resigned as chairman and chief executive in June after years of battling shareholders and regulators. Panic remains a director of the company, which makes the hepatitis drug ribavirin. Costa Mesa-based ICN disclosed the payment in a regulatory filing.
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