SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): JULY 24, 1998
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ICN Pharmaceuticals, Inc.
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(Exact Name of Registrant as Specified in its Charter)
DELAWARE 001-11397 33-0628076
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
3300 Hyland Avenue
Costa Mesa, California 92626
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (714) 545-0100
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N/A
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(Former name or former address, if changed since last report)
Item 5. Other Events
On July 24, 1998, the Registrant issued a press release announcing
that it intends to issue $200 million of Senior Notes through a private
placement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
ICN Pharmaceuticals, Inc.
By /s/ David C. Watt
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David C. Watt
Executive Vice President,
General Counsel and
Secretary
Date: July 24, 1998
EXHIBIT INDEX
Exhibit Number Description
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99.1 Text of Press Release issued by the Registrant on
July 24, 1998.
Exhibit 99.1
[Letterhead of ICN Pharmaceuticals, Inc.]
NEWS RELEASE
FOR IMMEDIATE RELEASE
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CONTACTS: Media: Kathryn Corbett Investors: Mariann Ohanesian
Edelman Financial ICN Pharmaceuticals
(212) 704-8292 (714) 545-0100
ICN PHARMACEUTICALS ANNOUNCES PROPOSED
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$200 MILLION DEBT OFFERING
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NEW YORK, N.Y., July 24, 1998 - ICN Pharmaceuticals, Inc. (NYSE: ICN) today
announced that it intends to issue $200 million of Senior Notes through a
private placement.
It is expected that the transaction will close in August of this year.
ICN intends to utilize the proceeds of the offering for general corporate
purposes including acquisitions to supplement its expansion program. The
notes will not be registered under the Securities Act and may not be
offered or sold in the United States absent registration or an applicable
exemption from registration requirements. This announcement is neither an
offer to sell nor a solicitation of an offer to buy these securities.
ICN manufactures and markets a broad range of prescription and
non-prescription pharmaceuticals and biotechnology research products in
over 90 countries and employs some 17,000 people worldwide. ICN has
operations in Western, Central and Eastern Europe, North and Latin America,
and the Pacific Rim. Additional information is available on the corporate
website at http://www.icnpharm.com.
THE SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995. This press release contains forward-looking statements
that involve risks and uncertainties, including but not limited to,
projections of future sales, operating income, returns on invested assets,
regulatory approval processes, and other risks detailed from time to time
in the Company's Securities and Exchange Commission filings.
