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Spi Pharmaceuticals Inc

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BUSINESS
September 10, 1988
ADDRESS: 3300 Hyland Ave., Costa Mesa BUSINESS: The company makes, distributes and sells pharmaceutical products ASSETS: $115.1 million (Nov. 30, 1987) NUMBER OF EMPLOYEES: 1,634 TOP EXECUTIVES: Cash Name Position Compensation Milan Panic Chairman, chief executive officer NA Ernest L. Park Jr. President $150,005 Leonard L. Mazur Vice president $117,675 Paul V.
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BUSINESS
November 12, 1994 | From Times Staff and Wire Reports
ICN Merger Complete: Costa Mesa-based ICN Pharmaceuticals Inc. said Friday that it has completed its merger with three affiliated corporations: SPI Pharmaceuticals, ICN Biomedicals and Viratek. Each share of pre-merger ICN Pharmaceuticals stock will be converted to 0.512 share of new ICN common stock. Each share of SPI stock will be converted to a full share of new ICN common stock. Viratek shares will be converted at the rate of one for each 0.
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BUSINESS
November 2, 1994 | HOPE HAMASHIGE, SPECIAL TO THE TIMES
Creating a corporation with $500 million in annual sales, shareholders of ICN Pharmaceuticals and three affiliates on Tuesday approved a merger of the four into a single company. ICN said it expects federal regulators to give their approval next week for its combination with Viratek Inc., SPI Pharmaceuticals and ICN Biomedicals. The new company will operate under the name ICN Pharmaceuticals, and its stock will be traded on the New York Stock Exchange.
BUSINESS
December 6, 1991 | From Times Staff and Wire Reports
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.
BUSINESS
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.
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.
BUSINESS
August 3, 1994 | DEBORA VRANA, TIMES STAFF WRITER
ICN Pharmaceuticals in Costa Mesa said Thursday that it plans to streamline its operations by merging with its three affiliates, creating a new company with $500 million in annual sales. If shareholders and federal regulators approve the proposal, the new company, which will keep the name ICN Pharmaceuticals, would begin trading on the New York Stock Exchange this fall.
BUSINESS
August 3, 1994 | DEBORA VRANA, TIMES STAFF WRITER
To streamline its operations, ICN Pharmaceuticals Inc. said Tuesday that it plans to merge with its three affiliates, creating a new company with $500 million in annual sales. If shareholders and federal regulators approve the proposal, the new company, which would keep the name ICN Pharmaceuticals, would begin trading on the New York Stock Exchange this fall.
BUSINESS
June 2, 1994 | Anne Michaud, Times staff writer
SPI Turns to PR: SPI Pharmaceuticals in Costa Mesa said Wednesday it has hired public relations agency Edelman Medical Communications of New York to give its products higher visibility in the scientific community. In particular, SPI said, it wants to promote its leading drug, Virazole.
BUSINESS
December 20, 1992
SPI Pharmaceuticals Inc., the chief subsidiary of world conglomerate ICN Pharmaceuticals Inc., said Wednesday it is distributing a new line of test kits in Mexico for detection of a wide range of diseases. The kits, which detect, among other illnesses, German measles, some types of hepatitis and human immunodeficiency virus (HIV), will be distributed to about 4,000 clinics in Mexico.
BUSINESS
March 25, 1994 | JAMES M. GOMEZ, TIMES STAFF WRITER
SPI Pharmaceuticals Inc. said Thursday it has begun the second phase of its two-step purchase of Russia's oldest drug firm. SPI's controlling interest in St. Petersburg-based Leningrad Industrial Chemical and Pharmaceutical Assn., known as Oktyabr, establishes the Costa Mesa drug company more securely in Eastern Europe. The cash and stock deal, estimated by analysts to be worth at least $43 million, also marks the first time that Russian citizens have owned a stake in a U.S. corporation.
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