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ICN PHARMACEUTICALS REPORTS THIRD QUARTER RESULTS

 ICN PHARMACEUTICALS REPORTS THIRD QUARTER RESULTS
 COSTA MESA, Calif., Nov. 13 /PRNewswire/ -- ICN Pharmaceuticals


Inc. (NYSE: ICN) reported a third quarter 1992 loss of $9 million, or 64 cents per share, on sales of $113 million, compared to a loss of $2.1 million, or 20 cents, on sales of $124 million for the third quarter of 1991.
 Gross profit rose to $64 million for the third quarter of 1992, compared to $62 million in the same period last year. Excluding the effects of translation, income before income taxes and minority interest was $16.3 million for the third quarter of 1992, compared to $10.3 million for the third quarter of 1991.
 For the first nine months of 1992, sales of $425 million compared to sales of $285 million in the same period in 1991. Net income for the first three quarters totaled $768,000, or 2 cents a share, compared to net income of $6.2 million, or 44 cents a share, in the first nine months of 1991.
 Net income was adversely affected by translation losses of approximately $13.2 million in 1992, primarily related to the devaluation of the Yugoslav dinar and the company's foreign publicly traded debt, while 1991 had translation gains of $5.9 million.
 Previously, SPI Pharmaceuticals Inc., the company's 50.4 percent owned pharmaceutical subsidiary, reported that net income increased 15 percent to $9.7 million, or 53 cents per share, on sales of $95 million.
 Viratek Inc., the company's 77.6 percent owned research subsidiary, also previously reported third quarter net income of $1.5 million, or 10 cents per share, on revenues of $1.9 million.
 ICN Biomedicals Inc., the company's 85.7 percent owned biotechnology research company, today announced a third quarter net loss of $7.6 million, or 39 cents per share, on sales of $18.4 million. The company recorded charges in the third quarter of approximately $1.1 million for the revaluation of assets held for sale and equity investment and $1.7 million for the remaining unamortized portion of the 1992 sales catalog as the company launched its 1993 catalog.
 ICN Pharmaceuticals Inc., headquartered in Costa Mesa, is a worldwide health care company that manufactures, markets and distribute a wide range of prescription and non-prescription pharmaceuticals, biotechnology research products and medical diagnostics worldwide.
 ICN PHARMACEUTICALS INC. Summary Financial Information for the Three and Nine Months Ended
 Sept. 30, 1992 and 1991
 (000s omitted, except per share amounts)
 (Unaudited)
 Three Months Nine Months
 Ended Ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Net sales $113,003 $123,855 $425,467 $285,298
 Gross profit 64,326 62,204 231,849 146,275
 Income before
 interest expense,
 translation,
 minority interest
 and income taxes 22,838 19,904 73,661 40,398
 Interest expense, net (6,583) (9,590) (21,899) (24,745)
 Translation (loss)
 gain (14,376) (4,262) (13,160) 5,910
 Income before
 income taxes and
 minority interest 1,879 6,052 38,602 21,563
 Income taxes (4,513) (1,314) (16,733) (4,682)
 Minority interest (6,394) (6,828) (21,101) (10,712)
 Net income (loss) ($9,028) ($2,090) $768 $6,169
 Per share information:
 Net income (loss) ($0.64) ($0.20) $0.02 $0.44
 Shares used in per
 share computation 13,842 11,774 14,498 12,534
 -0- 11/13/92
 /CONTACT: Paul Knopick of ICN Pharmaceuticals, 714-545-0100, ext. 2465/
 (ICN) CO: ICN Pharmaceuticals Inc. ST: California IN: MTC SU: ERN


JB-LS -- LA012 -- 0521 11/13/92 08:31 EST
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Date:Nov 13, 1992
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