Ivax weighs spin-offs of its generic units and other businesses

Article Abstract:

Ivax Corp. announced that it is debating over whether or not to spin off some of its business units in an attempt to improve its performance. Ivax, a pharmaceutical company, has commissioned investment bankers to study the possibility of holding an initial public offering in Norton Healthcare, the company's generic drug operation in the UK. The investment bankers are also studying Ivax's plans to spin off its generic, oncology, veterinary, and diagnostics business in the US.

Comment:

Is debating whether or not to spin off some of its business units in an attempt to improve its performance

Strategy & planning, Ivax Corp.

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ICN Pharmaceuticals to record a charge totaling $172 million

Article Abstract:

ICN Pharmaceuticals Inc. announced that it is expecting to post a $172 million charge against its earnings for the second quarter of 1998. The charge served to cover the company's expected losses in Yugoslavia. The charge reflects the risks that ICN is taking in expanding into the markets of Eastern Europe. The company stated that an agency of the Yugoslavian government defaulted on notes worth approximately $39 million.

Comment:

ICN Pharmaceuticals Inc. expecting to post a $172 million charge against its earnings for the second quarter of 1998

Sales, profits & dividends, Valeant Pharmaceuticals International

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Suit claims heart attack was caused by Viagra

Article Abstract:

A Viagra user filed a lawsuit against Pfizer Inc. after he claimed that the impotence drug caused him to suffer a heart attack. The man sued Pfizer for $85 million. The company said that the lawsuit was the first involving its Viagra impotence drug. The suit was filed in New York state court in Manhattan. Diego Padro and his wife allege that the drug caused him to have a heart attack on May 26, 1998.

Legal issues & crime, Product standards, safety, & recalls, New Products/Services, In-Vitro Diagnostic Substance Manufacturing, Legal/Government Regulation, Diagnostic Reagents, Pfizer Inc.

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