ICN Pharmaceuticals announced restructuring plan to split into three publicly-traded companies (ICN, Ribapharm with ribavirin royalties, plus international/biomedicals). Driven by activist pressure and chairman Milan Panic SEC issues. Ribapharm IPO'd 2002. Strategically notable corporate transaction.
Key facts
AnnouncedJun 15, 2000
Deal typeReverse Merger
Therapeutic areaHepatitis C
IndicationsHepatitis C
Key assetsRibavirin (Virazole/Rebetol royalty stream from Schering-Plough)