December 6, 1991 |
SPI to Form Joint Venture: SPI Pharmaceuticals Inc., a Costa Mesa drug company that has been pursuing business opportunities in Eastern Europe, has tentatively agreed to form a joint venture with one of Russia's oldest pharmaceutical firms. SPI, majority-owned by ICN Pharmaceuticals, did not disclose financial details of its agreement with Oktyabr Pharmaceutical Factories, a St. Petersburg company that traces its origins to the year 1714.
February 28, 1992
ICN Pharmaceuticals Inc. and its subsidiary, SPI Pharmaceuticals Inc., announced Wednesday that the German Health Ministry has authorized the use of its antiviral drug, Virazole, in aerosol form to treat infants suffering from severe respiratory infections. According to the health care company, about 30,000 infants are hospitalized annually with severe respiratory infections in Germany. Virazole, also known as Ribavirin, is now authorized in 21 countries, including the United States.
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.
October 31, 1994 |
ICN Seeks Merger OK: ICN Pharmaceuticals Inc. will urge shareholders at its annual meeting Tuesday to approve an intra-company merger that would consolidate three partially owned subsidiaries. To streamline operations and create a company with $500 million in sales, the Costa Mesa company wants shareholders of SPI Pharmaceuticals Inc., Viratek Inc. and ICN Biomedicals Inc. to accept one share of ICN stock for each share of their stock.