SCHEDULE 14A INFORMATION
Proxy Statement Pursuant To Section 14(a) Of
The Securities Exchange Act Of 1934
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[_] Soliciting Material Pursuant to Section 240.14a-12
ICN Pharmaceuticals, Inc.
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N/A
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Following is the text of three Press releases ICN issued on May 22, 2001:
[LOGO - ICN]
ICN PHARMACEUTICALS, INC.
International Headquarters
ICN Plaza
3300 Hyland Avenue
Costa Mesa, California 92626
Telephone: (714) 545-0100 X3230
FAX: (714) 641-7215
Telex: 67-0413
NEWS RELEASE
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Media: Investors:
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Peter Murphy Joe Schepers
714-545-0100 ext. 3213 212-754-4422
ICN PHARMACEUTICALS TO PRESENT AT THE
UBS WARBURG 5TH ANNUAL GLOBAL SPECIALTY PHARMACEUTICAL CONFERENCE
COSTA MESA, Calif. - May 22, 2001 -- ICN Pharmaceuticals, Inc. (NYSE: ICN)
announced today that the Company is scheduled to present at the UBS Warburg
Specialty Pharmaceutical Conference that will be held at the Pierre Hotel
in New York City on Wednesday, May 23, 2001 at 1:30 p.m. Eastern Time.
The public is invited to listen to the Company's presentation via an audio
webcast by logging onto www.icnpharm.com.
ICN manufactures, markets and distributes a broad range of prescription and
non-prescription pharmaceuticals, including anti-infectives, anti-virals,
and anti-cancer drugs, under the ICN brand name.
Additional information is also 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, subsidiary reorganization, ___
regulatory approval processes, operations in countries with unstable
economies, the progress of FDA reviews, and other risks detailed from time
to time in the Company's Securities and Exchange Commission filings.
###
[LOGO - ICN]
ICN PHARMACEUTICALS, INC.
International Headquarters
ICN Plaza
3300 Hyland Avenue
Costa Mesa, California 92626
Telephone: (714) 545-0100 X3230
FAX: (714) 641-7215
Telex: 67-0413
NEWS RELEASE
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Media: Investors:
----- ---------
Peter Murphy Joe Schepers
714-545-0100 ext. 3213 212-754-4422
LEADING INSTITUTIONAL PROXY ADVISORY SERVICE RECOMMENDS A VOTE
FOR ICN BOARD SLATE
Costa Mesa, Calif. - May 22, 2001 - ICN Pharmaceuticals, Inc. (NYSE:ICN)
announced today that Proxy Monitor, a leading provider of proxy research,
vote recommendations and voting agent services for institutional investors,
has recommended to its institutional clients that they vote for ICN's board
slate at the company's annual meeting of shareholders to be held on May 30,
2001.
Proxy Monitor stated "the instigation of a proxy contest at this juncture
seems to be more of a power play than anything else" since "there is little
disagreement with respect to the overall restructuring plan" put into
motion by ICN.
They also observed that the credentials of the dissident slate are not "all
that compelling", whereas the ICN nominees "have had very distinguished
careers". They concluded, "In sum... we see little reason for shareholders
to support the (dissident) committee slate."
Milan Panic, chairman and chief executive officer of ICN said, "Proxy
Monitor's comments confirm what we have maintained all along, that ICN
management has done everything possible to advance the corporate
restructuring plan, which is underway. It is also quite satisfying that
Proxy Monitor has acknowledged the qualifications and experience of our
board nominees. It has certainly been clear to us at ICN that the corporate
records of the two dissident nominees raise serious questions over their
qualifications to sit on the ICN Board. More important is the dissident
nominees lack of independence from Swiss investor Tito Tettamanti, his
committee and Herbert Denton of Providence Capital."
ICN has always prided itself in board participation that brings backgrounds
and expertise that assist in guiding the strategic direction of the
company. ICN's three nominees follow this policy and further strengthen its
board of directors.
o Dr. Ray Irani, Chief Executive Office of Occidental Petroleum for
over ten years, a New York Stock Exchange listed company with a
market capitalization of approximately $11 billion. Irani has
spent his 30-year career in top managerial positions at
Occidental. He brings to ICN his experience in running a Fortune
500 company and working in one of the world's major global
sectors. Under Irani's leadership, Occidental was a pioneer in
moving into new international markets.
o The Right Honorable Kim Campbell, former Prime Minister of Canada
and a lecturer at Harvard University. Ms. Campbell is trained as
a lawyer and political scientist. Ms. Campbell's career spans
academia, the practice of law, administration and being an
elected official at various levels of government. Ms. Campbell
was Consul General of Canada in Los Angeles from 1996 to 2000. In
that capacity, she was active in promoting trade development and
investment, especially in the areas of multimedia, information
technology, biotechnology and the entertainment industry.
o Charles T. Manatt, partner and founder of the law firm of Manatt,
Phelps, Phillips and former U.S. Ambassador to the Dominican
Republic. Mr. Manatt served as Los Angeles Bank. Mr. Manatt is
being nominated to return to the ICN Board on which he previously
served for seven years. His level of knowledge about ICN and its
industry is a valuable asset to the company, its management and
other ICN board members. Mr. Manatt served as a director of
Federal Express and COMSAT.
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.
###
[LOGO - ICN]
ICN PHARMACEUTICALS, INC.
International Headquarters
ICN Plaza
3300 Hyland Avenue
Costa Mesa, California 92626
Telephone: (714) 545-0100 X3230
FAX: (714) 641-7215
Telex: 67-0413
NEWS RELEASE
------------
Media: Investors:
----- ---------
Peter Murphy Joe Schepers
714-545-0100 ext. 3213 212-754-4422
ICN PHARMACEUTICALS STATES SCHERING-PLOUGH REPORTS INTERIM RESULTS OF
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PEG-INTRON(TM)PLUS REBETOL(R)STUDIES IN HEPATITIS C PATIENTS AT DIGESTIVE
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DISEASES WEEK MEETING
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STUDIES OF REBETRON(TM) COMBINATION THERAPY REPORTED
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ATLANTA, May 22, 2001 -- ICN Pharmaceuticals (NYSE: ICN) stated today that
Schering-Plough Research Institute today reported interim results of two
ongoing investigational clinical studies with once-weekly PEG-INTRON(TM)
(peginterferon alfa-2b) Injection, plus daily REBETOL(R) (ribavirin, USP)
Capsules in patients with chronic hepatitis C who did not respond to, or
had relapsed following, previous interferon-based therapy. (Ribavirin was
discovered and developed by scientists in the ICN Pharmaceuticals
laboratories and is licensed in capsule form to Schering-Plough as
Rebetol(R).) These data are being presented for the first time here at the
2001 Digestive Diseases Week (DDW) conference.
In a study led by Dr. Ira M. Jacobson, M.D., chief, division of
gastroenterology and hepatology, Weill Medical College of Cornell
University, New York, evaluating two different doses of both PEG-INTRON and
REBETOL, combined results of the two dosing regimens for the subset of
patients who did not respond to prior combination therapy showed that 35
percent of these patients had a virologic response after 24 weeks of
treatment (half way through therapy). PEG-INTRON and REBETOL combination
therapy is currently undergoing priority review by the U.S. Food and Drug
Administration (FDA) for the treatment of chronic hepatitis C in patients
not previously treated with interferon alpha who have compensated liver
disease and are at least 18 years of age.
"These studies are important because they investigate possible new
treatment options for patients with refractory disease, in whom it is
difficult to achieve a sustained response," Jacobson said.
In March 2001, PEG-INTRON and REBETOL combination therapy was granted
centralized marketing authorization in the European Union (EU) for the
treatment of both relapsed and naive (previously untreated) adult patients
with histologically proven chronic hepatitis C.
In the United States, Schering-Plough in February 2001 submitted a
supplemental Biologics License Application (sBLA) to the FDA seeking
marketing approval of PEG-INTRON for use in combination therapy with
REBETOL for the treatment of chronic hepatitis C in patients not previously
treated with interferon alpha who have compensated liver disease and are at
least 18 years of age. FDA has granted this application priority review
status, which provides for FDA action within six months from the date of
filing.
The FDA on Jan. 19, 2001, granted marketing approval to PEG-INTRON as
once-weekly monotherapy for the treatment of chronic hepatitis C in
patients not previously treated with interferon alpha who have compensated
liver disease and are at least 18 years of age.
REBETOL had been previously approved in the United States for use in
combination with INTRON(R) A (interferon alfa-2b, recombinant) Injection
for the treatment of chronic hepatitis C in patients with compensated liver
disease previously untreated with interferon alpha or who have relapsed
following interferon alpha therapy. REBETOL is marketed in the United
States as a component of REBETRON(TM) Combination Therapy, which contains
REBETOL Capsules and INTRON A Injection in a single package.
Schering-Plough on Nov. 7, 2000, submitted a supplemental application to
FDA seeking approval to market REBETOL separately for use in combination
with INTRON A. The REBETOL application is currently undergoing FDA review.
REBETRON Combination Therapy
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Also presented at DDW were results of several investigational studies
involving REBETRON Combination Therapy for the treatment of chronic
hepatitis C. In all, REBETRON was the subject of 19 study abstracts
presented at DDW. These included studies evaluating different dosing
regimens, including induction dosing, and the use of REBETRON in specific
patient populations, including nonresponders and relapsed patients,
patients with inherited coagulation disorders, liver transplant patients
and HIV co-infected patients. Also presented were studies evaluating
REBETRON in combination with a third agent, such as IL-2 or amantadine.
Warnings and Contraindications
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REBETRON COMBINATION THERAPY
Anemia associated with therapy may exacerbate symptoms of coronary disease
or deteriorate cardiac function. It is advised that complete blood counts
(CBC) be obtained at baseline and at weeks 2 and 4 of therapy or more
frequently if clinically indicated. The most common adverse experiences
associated with therapy are "flu-like" symptoms, such as headache, fatigue,
myalgia, and fever, which appear to decrease in severity as treatment
continues. SEVERE PSYCHIATRIC ADVERSE EVENTS, INCLUDING DEPRESSION,
PSYCHOSES, AGGRESSIVE BEHAVIOR, HALLUCINATIONS, VIOLENT BEHAVIOR (SUICIDAL
IDEATION, SUICIDAL ATTEMPTS, SUICIDES), AND RARE INSTANCES OF HOMICIDAL
IDEATION HAVE OCCURRED DURING COMBINATION REBETOL/INTRON A THERAPY, BOTH IN
PATIENTS WITH AND WITHOUT A PREVIOUS PSYCHIATRIC DISORDER.
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COMBINATION REBETOL/INTRON A THERAPY MUST NOT BE USED BY WOMEN, OR MALE
PARTNERS OF WOMEN, WHO ARE OR MAY BECOME PREGNANT DURING THERAPY AND DURING
THE 6 MONTHS AFTER STOPPING THERAPY. COMBINATION REBETOL/ INTRON A THERAPY
SHOULD NOT BE INITIATED UNTIL A REPORT OF A NEGATIVE PREGNANCY TEST HAS
BEEN OBTAINED IMMEDIATELY PRIOR TO INITIATION OF THERAPY. WOMEN OF
CHILDBEARING POTENTIAL AND MEN MUST USE EFFECTIVE CONTRACEPTION (TWO
RELIABLE FORMS) DURING TREATMENT AND DURING THE 6-MONTH POST TREATMENT
FOLLOW-UP PERIOD. SIGNIFICANT TERATOGENIC AND/OR EMBRYOCIDAL EFFECTS HAVE
BEEN DEMONSTRATED FOR RIBAVIRIN IN ALL ANIMAL SPECIES IN WHICH ADEQUATE
STUDIES HAVE BEEN CONDUCTED. THESE EFFECTS OCCURRED AT DOSES AS LOW AS ONE
TWENTIETH OF THE RECOMMENDED HUMAN DOSE OF REBETOL. IF PREGNANCY OCCURS IN
A PATIENT OR PARTNER OF A PATIENT DURING TREATMENT OR DURING THE 6 MONTHS
AFTER TREATMENT STOPS, PHYSICIANS ARE ENCOURAGED TO REPORT SUCH CASES BY
CALLING (800) 727-7064.
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REBETOL is an oral formulation of ribavirin, a synthetic nucleoside
analog with broad-spectrum antiviral activity. Schering-Plough has
exclusive worldwide rights to market oral ribavirin for hepatitis C through
a licensing agreement with ICN Pharmaceuticals, Inc. Ribavirin is marketed
in the United States and the European Union as Virazole(R) for aerosol use
in the treatment of hospitalized infants and young children suffering from
lower respiratory tract infection from respiratory syncytial virus (RSV),
and is marketed in a total of 44 countries in a variety of formats around
the world for 10 different viral indications.
INTRON A is a recombinant version of naturally occurring alpha
interferon, which has been shown to exert both antiviral and
immunomodulatory effects.
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 ICN'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.
1 Defined as HCV-RNA below limit of detection using a research-based RT-PCR
assay at 24 weeks post-treatment.