ICN Pharmaceuticals Inc. said a loss recorded...
ICN Pharmaceuticals Inc. said a loss recorded by its Viratek subsidiary resulted in a net loss of $2.1 million for the third quarter. The company posted net income of $7.1 million for the comparable quarter in 1988. Sales rose 2%, to $42.6 million from $41.7 million.
For the nine-month period, the Costa Mesa-based company reported net income of $3.8 million, compared to net income of $17.2 million in 1988. Sales increased 10%, to $129.6 million from $117.4 million.
ICN said that while its pharmaceutical marketing and biomedical subsidiaries turned in strong results in the quarter, they were offset by a net loss reported by Viratek, its pharmaceutical research and development subsidiary.
ICN Pharmaceuticals makes pharmaceutical and biomedical products.
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