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Virazole Drug

BUSINESS
October 31, 1991 | ANNE MICHAUD
ICN Pharmaceuticals Inc. said Tuesday that the Belgian health ministry has authorized the company to market the antiviral drug Virazole in aerosol form for the treatment of influenza A and B infections in infants and adults. The drug may be used to treat several thousand cases annually, said Jack Sholl, a spokesman for ICN, which makes pharmaceuticals, biotechnology research supplies and medical diagnostic products.
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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
July 25, 1997 | JAMES S. GRANELLI, TIMES STAFF WRITER
ICN Pharmaceuticals Inc. said Thursday that 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.
BUSINESS
May 25, 1991 | BOB SCHWARTZ, TIMES STAFF WRITER
ICN Pharmaceuticals Inc. said Friday that it has agreed to pay $600,000 to settle civil charges that it violated federal laws when it promoted the drug Virazole as a treatment for the AIDS virus. The Costa Mesa pharmaceutical company did not admit or deny any wrongdoing in a consent decree with the U.S. Justice Department. But it said it agreed to settle the 3-year-old allegations to avoid expensive, lengthy litigation.
BUSINESS
February 25, 1995 | JAMES S. GRANELLI, TIMES STAFF WRITER
The chairman of ICN Pharmaceuticals Inc., pressed by the company's fast-falling stock price and the disclosure of his own questionable stock deals, said Friday that he wants the ICN board to set up a committee "as soon as possible" to investigate the latest developments.
BUSINESS
August 15, 1996 | BARBARA MARSH
A Canadian federal appeals court threw out a claim by ICN Pharmaceuticals Inc. that challenged a government agency's jurisdiction over the drug company's prices for its main drug, Virazole. Two weeks ago, the Canadian agency, the Patented Medicine Prices Review Board, ordered the drug company to pay a fine and penalties totaling $1.8 million for "excessively" overcharging hospitals for the drug.
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
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 5, 1986 | JEFF ROWE
ICN Pharmaceuticals Inc. said Eastman Kodak Co. has agreed to provide $2 million in funding for the first phase of clinical trials of ICN's Virazole drug for the treatment of Acquired Immune Deficiency Syndrome. Kodak, which owns a 5% stake in the Costa Mesa-based pharmaceutical maker, agreed last year to a joint venture for testing of the anti-viral drug, which was developed in 1970.
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