ICN Pharmaceuticals Inc. said it authorized the...
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ICN Pharmaceuticals Inc. said it authorized the purchase of up to 500,000 shares of Viratek Inc. common stock from time to time either in open market or privately negotiated transactions. If the Costa Mesa-based company completes the purchases, its stake in Viratek will increase from 47% to 61%.
Viratek is a research and development company. ICN manufactures Virazole, an anti-viral drug that will be one of several medications administered to acquired immune deficiency syndrome patients this summer as part of a $20-million Public Health Service test program.
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