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Spi Pharmaceuticals

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BUSINESS
November 4, 1993
SPI Pharmaceuticals Inc., the Costa Mesa pharmaceuticals manufacturer, an operating unit of ICN Pharmaceuticals Inc., reported a third-quarter profit of $6.9 million, or 36 cents a share. That was down 29% from a profit of $9.7 million, or 51 cents a share, for the same period a year earlier. Sales declined 26% to $70.2 million from $94.6 million. Profit for the year to date dropped 46% to $13.7 million, or 73 cents a share, from $25.6 million, or $1.
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BUSINESS
July 26, 1994
Wyle Laboratories, an Irvine electronic products marketer, reported second-quarter profit of $4.3 million, or 35 cents a share, up 54% from earnings of $2.8 million, or 23 cents a share, for the same period last year. Second-quarter sales rose 42% to $209.1 million from $147.6 million. Profit for the first half was $7.1 million, or 57 cents a share. That compared to earnings a year earlier of $4.1 million, or 34 cents a share, which included a one-time, charge of $3.
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BUSINESS
October 18, 1985 | LESLIE BERKMAN
Continuing an earnings upswing begun when the company went public in 1983, SPI Pharmaceuticals Inc., a small Costa Mesa pharmaceutical manufacturer, reported a near doubling of net income and sales for its third fiscal quarter compared to the same period a year ago. Third quarter earnings for SPI, which is owned 85% by the larger Costa Mesa-based ICN Pharmaceuticals Inc., jumped to $730,000 from $376,000 a year ago. Sales for the period ended Aug. 31 were $11.2 million, up from $5.7 million.
BUSINESS
November 4, 1993
SPI Pharmaceuticals Inc., the Costa Mesa pharmaceuticals manufacturer, an operating unit of ICN Pharmaceuticals Inc., reported a third-quarter profit of $6.9 million, or 36 cents a share. That was down 29% from a profit of $9.7 million, or 51 cents a share, for the same period a year earlier. Sales declined 26% to $70.2 million from $94.6 million. Profit for the year to date dropped 46% to $13.7 million, or 73 cents a share, from $25.6 million, or $1.
BUSINESS
June 27, 1989
SPI Pharmaceuticals Inc., which is owned primarily by ICN Pharmaceuticals Inc., posted record net income of $3.8 million for its second quarter ended May 31. That represents a 27% increase from the $3 million reported for the same period last year. Sales in the quarter rose 10% to $30.3 million from $27.5 million. For the first half, net income totaled $6.4 million, 47% higher than the $4.4 million posted a year earlier. Sales increased 17% to $59.9 million from $51.1 million. The Costa Mesa-based pharmaceutical products manufacturer said sales growth in its international operations, particularly in Mexico, contributed to the second-quarter gains.
BUSINESS
March 31, 1987 | ROBERT HANLEY, Times Staff Writer
ICN Pharmaceuticals Inc. said its SPI Pharmaceuticals Inc. subsidiary has acquired a 71% stake in a pharmaceuticals company owned by the Spanish government and will acquire the balance over the next decade. The acquisition of Laboratorios Hubber S.A. by the Costa Mesa-based company's marketing arm will be paid for in Spanish pesetas and the cost will not exceed $8 million over the 10-year purchase period, said Lawrence Panitz, ICN's chief operating officer. ICN owns 87% of SPI Pharmaceuticals.
BUSINESS
April 18, 1989 | JOHN CHARLES TIGHE, Times Staff Writer
Subsidiaries of ICN Pharmaceuticals Inc. on Monday reported higher profits for the first quarter of the firm's 1989 fiscal year, but overall earnings for the Costa Mesa company fell 37%. ICN Pharmaceuticals reported net income of $2.9 million for the quarter ended Feb. 28, compared to $4.6 million a year earlier. The 1988 profits were boosted by rebounding stock and bond markets, which enhanced the value of the company's investment portfolio. Revenue for the 1989 first quarter was up 22% to $42.5 million, from $35 million in 1988.
BUSINESS
April 21, 1989 | JOHN O'DELL
In a series of moves resembling a game of musical chairs, directors of ICN Pharmaceuticals Inc. of Costa Mesa and one of its subsidiaries have vacated their board seats to become directors of sister firms. Nobel Prize-winner Roger Guillemin has left the board of ICN Biomedicals Inc. to assume a seat on the board of SPI Pharmaceuticals Inc., while financial consultant Tom Lenagh has been elected to take Guillemin's place at ICN Biomedicals and will give up his seat on the board of ICN Pharmaceuticals.
BUSINESS
June 13, 1986 | ROBERT HANLEY, Times Staff Writer
Fueled by rumors of a possible takeover bid by Eastman Kodak, common shares of ICN Pharmaceuticals Inc. and its Viratek Inc. subsidiary continued Thursday to rise sharply. Viratek, traded over the counter, closed Thursday at $63 a share, up $5 from the previous day, when it had shot up $8.75, making for a two-day gain of 28%. Equally dramatic was the 27% increase in ICN's price over the last two days. Traded on the New York Stock Exchange, ICN hit a new 12-month high to close Thursday at $16.
BUSINESS
August 17, 1985 | BRUCE HOROVITZ, Times Staff Writer
In a bid to raise $2.4 million for acquisitions and working capital, SPI Pharmaceuticals Inc. said Friday it plans to sell 300,000 shares of common stock. As part of the same transaction, two of the company's larger shareholders plan to sell off 426,666 of their shares. The issuance of new shares by SPI would decrease slightly the holdings of the parent company, ICN Pharmaceuticals Inc., from 88% to about 85%.
BUSINESS
April 28, 1993 | JAMES S. GRANELLI, TIMES STAFF WRITER
Taking advantage of Russian efforts to return companies to aprivate hands, SPI Pharmaceuticals Inc. said Tuesday that it has created a joint venture with the country's oldest and largest drug company, completing negotiations that began more than 16 months ago. The joint venture between the Costa Mesa company and the drug concern known as Oktyabr in St. Petersburg is the first privatization of a major pharmaceuticals company in the former Soviet Union. The new company is called ICN Oktyabr.
BUSINESS
March 2, 1993 | JAMES M. GOMEZ, TIMES STAFF WRITER
SPI Pharmaceuticals Inc., the chief subsidiary of drug giant ICN Pharmaceuticals Inc., reported record worldwide profits for 1992, despite reported problems with a joint venture in Yugoslavia. The company has complained that it has been having trouble getting raw materials to its ICN Galenika manufacturing facility in Belgrade, the capital of Yugoslavia, because of the continuing conflict among neighboring republics. SPI holds a 75% stake in Galenika.
BUSINESS
December 8, 1992
The drug company founded by Milan Panic, now prime minister of Yugoslavia, took a pounding on Wall Street Monday as investors fled the company on a recent announcement that it will slash its quarterly dividend. SPI Pharmaceuticals Inc., which said Friday that it was cutting this month's quarterly dividend by 75%, saw its stock plummet $5.125 a share in heavy trading to close at $13 a share on the American Stock Exchange. That selloff took the share price below its previous 52-week low of $15.
BUSINESS
June 12, 1992 | CRISTINA LEE, TIMES STAFF WRITER
International economic sanctions against Yugoslavia that have sent ripples through the boardrooms of some U.S. companies doing business in that war-torn country are causing a tidal wave in the executive suites of SPI Pharmaceuticals Inc., which has a major operation there. SPI, a subsidiary of ICN Pharmaceuticals Inc. in Costa Mesa, supplies about 50% of the medicines and other pharmaceuticals used in Serbia, Montenegro and Bosnia-Herzegovina, said John D.
BUSINESS
June 11, 1992
SPI Pharmaceuticals Inc., a drug manufacturer founded by a Yugoslav immigrant, has donated more than 85,000 bottles of vitamins, valued at $750,000, to the war-torn area of Bosnia-Herzegovina. The humanitarian aid is being made through AmeriCares, an international relief agency in New Canaan, Conn. The shipment--which includes 47 different vitamin supplements--is expected to arrive today in Bosnia, said SPI spokesman, Jack Sholl.
BUSINESS
March 31, 1992
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.
BUSINESS
March 17, 1992 | CRISTINA LEE, TIMES STAFF WRITER
Buoyed by its success in Eastern Europe, SPI Pharmaceuticals Inc. announced Monday that its 1991 profits doubled to $30 million. The Costa Mesa manufacturer and distributor of pharmaceutical products posted a record net income of $30.12 million, equal to $1.73 a share, up 102% from $14.92 million, or 95 cents a share, in 1990. Revenue for the year reached $364.35 million, up 158% from $140.71 million in 1990. The company, a subsidiary of ICN Pharmaceuticals Inc.
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