<PAGE> 1
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ICN PHARMACEUTICALS, INC.
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ICN PHARMACEUTICALS, INC.
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TO: GUS WEIL,
PR NEWSWIRE MEMBER SERVICES 800-832-5522
SPI <SPI.A> buying stake in Hungarian company
COSTA MESA, Calif., Jan 3 (Reuter) - SPI Pharmaceuticals Inc said it
reached an agreement with the Hungarian government to acquire a 30 percent
stake in <Alkaloida>, a leading pharmaceutical manufacturer in Hungary.
As part of the deal, SPI said it intends to raise its percentage
ownership in Alkaloida to a controlling interest of over 50 percent.
Closing of the transaction is subject to due diligence, auditing and
normal terms and conditions related to closing.
-- New York Newsdesk 211-603-3310
REUTER
Rtr 09:06 01-03-94
:TICKER: SPI
:SUBJECT: DRUG USA
Copyright (c) 1994 Reuters Information Services, Inc.
Received by NewsEDGE/LAN: 1/3/94 9:05 AM
<PAGE> 3
TO: GUS WEILL,
COURTESY OF PR NEWSWIRE MEMBER SERVICES / 800-832-5522
********************************************************************************
SPI Pharma, Hungarian Firm-2: Terms Not Disclosed
COSTA MESA, Calif. -DJ- SPI Pharmaceuticals Inc. (SPI) has reached an
agreement with the Hungarian government to acquire a 30% ownership in
Alkaloida, a pharmaceutical manufacturer in Hungary.
Terms weren't disclosed.
In a press release, the company said it intends to increase its
percentage ownership in Alkaloida to a controlling interest of more than 50%.
The company said annual sales of Alkaloida are about $90 million, with
almost two-thirds of the sales in foreign currency.
SPI said actual closing of the transaction is subject to due diligence,
auditing and normal terms and conditions related to closing.
SPI is 42% owned by ICN Pharmaceuticals Inc. (ICN).
(END) DOW JONES NEWS 01-03-94
9:20 AM
:TICKER: ICN SPI
:SUBJECT: DRUG CA MNA
Copyright (c) 1994 Dow Jones and Company, Inc.
Received by NewsEDGE/LAN: 1/3/94 9:18 AM
