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SCHEDULE 14A INFORMATION
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ICN PHARMACEUTICALS, INC.
(Name of Registrant as Specified in its Charter)
ICN PHARMACEUTICALS, INC.
(Name of Person(s) Filing Proxy Statement)
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ICN PHARMACEUTICALS, INC.
NEWS
RELEASE
FOR IMMEDIATE RELEASE
Contact: Jack Sholl
714 545-0100 ext. 3013
COMMON STOCKS OF ICN PHARMACEUTICALS,
THREE OPERATING UNITS, TOP
MAJOR STOCK MARKET INDICES IN 1993
ICN FAMILY OF COMPANIES BEATS DOW JONES, S&P, NYSE, AMEX INDICES
COSTA MESA, Calif., Jan. 4, 1994 -- The common stock of ICN
Pharmaceuticals, Inc. (NYSE:ICN) beat four major stock market indices in 1993,
including the Dow Jones pharmaceutical industry group and the New York Stock
Exchange index.
In addition, the common stocks of the three American Stock
Exchange-traded companies in which ICN holds significant equity positions --
SPI Pharmaceuticals, Inc., Viratek, Inc. and ICN Biomedicals, Inc. -- had 1993
increases higher than the Dow Jones Industrial and pharmaceutical group
indices, as well as the American Stock Exchange and Standard & Poor's 500
averages.
ICN Pharmaceuticals, listed on the New York Stock Exchange, was up
2 3/8 from year-end 1992 to year-end 1993, a 36.5 percent increase, to close at
8 7/8 at year's end. That compared to a 13.72 percent increase in 1993 in the
Dow Jones Industrial Average, a
(more)
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-2-
7.86 increase in the NYSE index, and a 7.06 percent increase in the Standard &
Poor's 500 index.
ICN far outstripped the performance of the Dow Jones pharmaceutical
industry group, which was down 10.58 percent in 1993.
SPI Pharmaceuticals, which manufactures, markets and distributes 600
prescription and non-prescription products in more than 60 nations, was up 4 in
1993 to close at 14 1/2 on Dec. 31, 1993, a 38.1 percent increase. That topped
the AMEX average of a 19.52 percent increase in the value of AMEX-traded
stocks.
Also, according to the January 3, 1994, edition of Forbes magazine,
SPI's 5-year average increase in sales of 43.2 percent was the second best
among 24 major drug companies analyzed.
SPI's five-year average return on equity, 26.9 percent, was 12th best
among the industry group. SPI's earnings per share five-year average increase
of 30 percent was third best of 24 major drug companies.
Also topping the AMEX, the Dow Jones and the Standard & Poor's 500
averages were Viratek, ICN's pharmaceutical research and development company,
and ICN Biomedicals, its biotechnology research products and medical
diagnostics subsidiary.
Viratek's common stock jumped in value 56.4 percent in 1993 to 10 3/4,
up 3 7/8, and Biomedicals' stock increased in value 3/4 to 4 1/4, a 21.4
percent increase in value in 1993.
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