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ICN Pharmaceuticals, Inc.
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Following is the text of a press release issued by ICN Pharmaceuticals,
Inc. on May 4, 2001:
[LOGO OF ICN PHARMACEUTICALS, INC]
NEWS RELEASE
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Investors: Media:
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Joe Schepers Peter Murphy
(800) 548-5100, ext. 3070 714-545-0100, ext. 3213
ICN EXPLORING LICENSING LEVOVIRIN
COSTA MESA, Calif., May 4, 2000 - - ICN Pharmaceuticals, Inc. (NYSE:
ICN) announced today it is exploring the possibility of licensing its
developmental compound Levovirin to a major pharmaceutical company with
worldwide marketing and distribution capabilities.
Licensing would enable the compound, if successfully developed and
with regulatory clearance, to be marketed by a company with greater
worldwide marketing, distribution and sales scope than ICN currently has.
Levovirin, an L-isomer of ribavirin in Phase I clinical trials were
initiated in February 2000 for the treatment of hepatitis C. It shows
similar immunomodulatory activity to ribavirin but lacks the antiviral
activity and side-effect profile of ribavirin.
As previously announced, Schering-Plough has the first and last right
of refusal to license Levovirin.
ICN is an innovative, research-based global pharmaceutical company
that manufactures markets and distributes a broad range of prescription and
non-prescription pharmaceuticals under the ICN brand name. Its therapeutic
focus is on anti-infectives, including anti-virals, dermatology and
oncology. Additional information is also available on the company's 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.
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