OTHER NEWS - April 19, 1995

ICN Director Group Clears Panic: A special committee of ICN Pharmaceuticals Inc. directors cleared controversial Chairman Milan Panic of any improprieties for selling $1.24 million worth of his stock while delaying the public release of information detrimental to the company. The board, which met at the company’s headquarters in Costa Mesa, unanimously agreed with the recommendation of the three-member committee of outside directors to take “no action” against Panic. The chairman had sold a chunk of his stock in November, after the company learned from federal regulators that they had rejected the company’s effort to use its trademark drug, Virazole, to treat the contagious liver disease hepatitis C.