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Virazole

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CALIFORNIA | LOCAL
December 23, 1993
In September, the prestigious American Academy of Pediatrics published a scientific paper recommending to physicians the antiviral drug Virazole (ribavirin) for aerosol treatment of high-risk and seriously ill children who have been hospitalized with severe lower-tract infection caused by respiratory syncytial virus (RSV). In its recommendation, the 12 physicians on the academy's Committee on Infectious Diseases stressed that "experience in more than 100,000 patients indicates that aerosolized ribavirin treatment for RSV infection is both safe and effective."
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BUSINESS
July 25, 1997 | JAMES S. GRANELLI, TIMES STAFF WRITER
ICN Pharmaceuticals Inc. on Thursday said it has agreed to pay $15 million to settle a lawsuit that accused its chairman of insider trading and the company of misleading investors about its prize drug, Virazole. The Costa Mesa drug maker and its chairman, Milan Panic, will pay about $12 million to end the 2-year-old lawsuit, and the company's insurer will pay the rest, according to two individuals familiar with the terms.
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BUSINESS
April 15, 1986 | ROBERT HANLEY, Times Staff Writer
Wall Street reaction was mixed Monday to the Food and Drug Administration's unusual disciplining of ICN Pharmaceuticals for having made false and misleading claims about its drug Virazole. Eugene Melnitchenko, who follows the drug industry for the Dallas securities firm of Rauscher Pierce Refsnes, said relations between the Costa Mesa drug maker and the FDA are bound to be "ticklish" for a while. But Craig Dickson of Interstate Securities in Charlotte, N.C., said: "I don't think anybody . . . in or out of the market thinks there will be any adverse consequences."
BUSINESS
July 30, 1996 | BARBARA MARSH, TIMES STAFF WRITER
In the first action of its kind, a Canadian government agency said Monday that it fined ICN Pharmaceuticals Inc. about $900,000 for "excessively" overcharging hospitals for its main drug, Virazole. The agency, which issued the fine as $1.2 million in Canadian dollars, also ordered the company to cut the price of a 12-hour dose to about $200 in Canadian dollars from about $1,540.
BUSINESS
March 1, 1987 | ROBERT HANLEY, Times Staff Writer
Six months ago, ICN Pharmaceuticals Inc. briefly appeared to be one of the brightest gems on Wall Street. Trading near its all-time high of nearly $37 a share, the Costa Mesa-based company's stock was blasting skyward in a dizzying buying frenzy that drove ICN's market value up nearly 70% in just a matter of days. Fueling that frenzy was a bullish research report and "buy" recommendation by Paine-Webber Inc.
BUSINESS
August 26, 1986 | MICHAEL FEIBUS, Times Staff Writer
After soaring for nearly two weeks, the price of common stock in ICN Pharmaceuticals and its subsidiaries plummeted in heavy trading Monday on Wall Street, spurred in part by press reports questioning the effectiveness of its mainstay product, the antiviral drug Virazole. The stock price of the Costa Mesa drug maker fell $6.25 to $21.75 a share Monday on the New York Stock Exchange. The stock was the second most active on the Big Board with more than 2.7 million shares traded.
BUSINESS
March 27, 1986
Crediting strong domestic sales of Virazole, an anti-viral drug approved in December for fighting a sometimes-fatal infant respiratory disease, ICN Pharmaceuticals Inc., said Wednesday that its Viratek Inc. subsidiary will report record net earnings of an estimated $1.5 million for the quarter ended Feb. 28. The projected first-quarter 1986 earnings are in sharp contrast to a net loss of $609,000 during the like period last year. For all of 1985, Viratek's net losses totaled $2.8 million.
BUSINESS
September 29, 1992 | CHRIS WOODYARD
SPI Pharmaceuticals Inc. said Monday that it has received approval from the Mexican government for use of its antiviral cream Virazole to treat shingles and genital herpes. Virazole, also known as Vilona and Virazide in Mexico, is a ribavirin-based cream that has been used in the United States and 20 other countries as an aerosol to treat infants with lung infections. SPI, a subsidiary of ICN Pharmaceuticals Inc.
BUSINESS
October 4, 1986 | ROBERT HANLEY, Times Staff Writer
A Food and Drug Administration official said Friday that two drugs manufactured by Orange County-based pharmaceuticals firms are among about half a dozen medications that will receive top priority for FDA evaluation as treatments for AIDS. However, the decision, made Tuesday, regarding Virazole, manufactured by ICN Pharmaceuticals Inc., and Isoprinosine, produced by Newport Pharmaceuticals International Inc.
BUSINESS
December 11, 1986 | ROBERT HANLEY, Times Staff Writer
Despite its tragic nature, the AIDS epidemic is creating new opportunities for a handful of Orange County companies. From drug makers to manufacturers of hypodermic needles, local firms are helping their bottom lines by offering alternative medical care, drug therapies and even marketing new products to protect health care workers from the deadly disease.
BUSINESS
July 11, 1996 | BARBARA MARSH, TIMES STAFF WRITER
Virazole has been the wonder drug for ICN Pharmaceuticals Inc., but shareholders simply wonder if it's ever going to be approved in the United States to combat any major illness. Over the years, ICN stock has risen and fallen on news that Virazole was being tested or wasn't being approved as a treatment for AIDS or the highly contagious hepatitis C liver ailment.
BUSINESS
March 5, 1995 | JAMES S. GRANELLI, TIMES STAFF WRITER
Milan Panic was upset. He was reading stories last winter about an outbreak in Southern California of RSV, a respiratory ailment that afflicts children, and never saw a word about the only drug that treats serious RSV cases--the drug his company makes. A born salesman and autocratic leader, Panic ordered his staff at ICN Pharmaceuticals Inc. to put together a full-page advertisement for him to edit and approve.
BUSINESS
February 23, 1995 | HOPE HAMASHIGE, SPECIAL TO THE TIMES
An angry shareholder has sued ICN Pharmaceuticals Inc., alleging that the company withheld information that its drug, Virazole, was rejected by the Food and Drug Administration last fall as a treatment for hepatitis C. Additionally, the suit accuses company Chairman Milan Panic of profiting by selling a portion of his ICN stock in the months between the time the company was notified of the government's rejection and when it released that information to the public.
BUSINESS
February 22, 1995 | JAMES S. GRANELLI, TIMES STAFF WRITER
Shares of ICN Pharmaceuticals Inc. continued to fall Tuesday in the second day of heavy trading after the company said that federal regulators would not approve its Virazole drug as a treatment for hepatitis C. ICN shares dropped 11.5% to close at $15.38 a share in New York Stock Exchange trading. More than 1.4 million shares traded hands--nearly seven times the company's recent daily average of 205,600 shares.
BUSINESS
February 18, 1995 | GREG JOHNSON, TIMES STAFF WRITER
Shares of ICN Pharmaceuticals Inc. fell 23% in heavy New York Stock Exchange trading Friday after the company said the U.S. Food and Drug Administration would not approve its Virazole drug as a treatment for hepatitis C. The Costa Mesa-based company's stock price fell $5.25 to $17.38. Trading topped 1.99 million shares, nearly 10 times the issue's three-month daily average of 205,600. ICN was Friday's biggest percentage loser in NYSE trading.
BUSINESS
December 6, 1994 | GREG JOHNSON, TIMES STAFF WRITER
ICN Pharmaceuticals Inc.'s stock tumbled 13% Monday after the U.S. Food and Drug Administration ordered the company to resubmit an application for a key antiviral drug it has developed. ICN, based in Costa Mesa, sought regulatory approval in June to use its drug Virazole as a stand-alone treatment for hepatitis C. On Monday, however, the company said it will probably seek approval for use of Virazole in combination with other drugs.
BUSINESS
January 25, 1987 | Robert Hanley
Is ICN Pharmaceuticals Inc. overpriced on the stock market? Plenty of investors must think so. That's because the short interest in the controversial Costa Mesa drug maker's stock has increased more than 10-fold over the last six months to more than 2.5 million shares in January, according to the New York Stock Exchange. The increase is an even more staggering 3,333% when contrasted with the 73,700 shares that had been shorted a year ago.
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.
CALIFORNIA | LOCAL
December 23, 1993
In September, the prestigious American Academy of Pediatrics published a scientific paper recommending to physicians the antiviral drug Virazole (ribavirin) for aerosol treatment of high-risk and seriously ill children who have been hospitalized with severe lower-tract infection caused by respiratory syncytial virus (RSV). In its recommendation, the 12 physicians on the academy's Committee on Infectious Diseases stressed that "experience in more than 100,000 patients indicates that aerosolized ribavirin treatment for RSV infection is both safe and effective."
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