ICN Sets Annual Meeting Date

Apr 19, 2001, 01:00 ET from ICN Pharmaceuticals, Inc.

    COSTA MESA, Calif., April 19 /PRNewswire/ -- ICN Pharmaceuticals, Inc.
 (NYSE:   ICN) announced today that it has filed with the Securities and Exchange
 Commission a preliminary proxy for its annual shareholders meeting to be held
 on May 30, 2001 for shareholders of record April 23, 2001.
     ICN's nominees for its Board of Directors are three distinguished business
 leaders whose qualifications and background add further strength to ICN's
 existing board.  They are:
 
     --  Dr. Ray Irani, Chief Executive Officer, Occidental Petroleum.
         Dr. Irani brings to the ICN Board almost 30 years of experience in top
         managerial positions at Occidental.  He serves as Honorary Chairman of
         the Board of Canadian Occidental Petroleum Ltd. and is a member of the
         Boards of Directors of Kaufman and Broad Home Corporation and Cedars
         Bank.  Dr. Irani is a member of the Board of Trustees at the
         University of Southern California.
 
     --  The Right Honorable Kim Campbell, former Primer Minister of Canada.
         Ms. Campbell is trained as a lawyer and political scientist
         specializing in international politics and Soviet government.  Ms.
         Campbell's career spans academia, the practice of law, administration
         and elected official at all three levels of government.  Ms. Campbell
         was appointed Consul General of Canada in Los Angeles where she was
         active in promoting trade development and investment especially in the
         areas of multimedia, information technology, biotechnology and the
         entertainment industry.
 
     --  Charles T. Manatt, partner and a founder in the law firm of Manatt,
         Phelps, Phillips and former U. S. Ambassador to the Dominican
         Republic.  Mr. Manatt served as Chairman of the Democratic National
         Committee from 1981 to 1985.  Mr. Manatt returns to the ICN Board on
         which he previously served for 15 years.  His level of knowledge about
         ICN and its industry is a real asset to the Company, the management
         and other ICN board members.
 
     The Company also announced that three current directors will not stand for
 re-election:  Thomas Lenagh, Andrei Kozyrev and Roberts A. Smith, Ph.D.
 Messrs. Lenagh and Kozyrev will join the Board of Directors of ICN
 International, one of the new entities being created under the ICN
 restructuring plan.  ICN International filed a draft circular with the
 Budapest and London stock exchanges on March 22, 2001 for an international
 offering of shares and global depositary receipts ("GDRs").
     Dr. Smith will join the board of Ribapharm, the biotechnology company
 being created under the restructuring plan.  Ribapharm has filed with
 Securities and Exchange Commission for an initial public offering.
     ICN stockholders are strongly advised to read the proxy statement relating
 to ICN's 2001 annual meeting of stockholders when it becomes available, as it
 will contain important information.  Stockholders will be able to obtain this
 proxy statement, any amendments to the proxy statement and other documents
 filed by ICN with the Securities and Exchange Commission for free at the
 Internet website maintained by the Securities and Exchange Commission at
 www.sec.gov.  In addition, ICN will mail the proxy statement to each
 stockholder of record on the record date to be established for the
 stockholders meeting.  ICN will also make additional copies of the proxy
 statement and any amendments to the proxy statement available for free to
 ICN's stockholders.  Please direct your request for the proxy statement to
 Investor Relations, ICN Pharmaceuticals, Inc., 3300 Hyland Avenue, Costa Mesa,
 California 92626, telephone (714) 545-0100, extension 3104.
 
     Participant Information
     In accordance with Rule 14a-12(a)(1)(i) of the Securities Exchange Act of
 1934, as amended, the information concerning persons who may be deemed
 participants is as follows:
     ICN, its executive officers and directors named below may be deemed to be
 participants in the solicitation of proxies for ICN's 2001 annual meeting of
 stockholders.  The number of shares of ICN common stock beneficially owned by
 each of these persons as of March 31, 2001 is listed in parenthesis after his
 or her name.
 
     Milan Panic, Chairman of the Board of Directors and Chief Executive
 Officer, (2,371,092); Adam Jerney, President and Chief Operating Officer and a
 director, (735,498); Richard A. Meier, Executive Vice President and Chief
 Financial Officer, (76,750); David C. Watt, Executive Vice President, General
 Counsel and Corporate Secretary, (188,204); John E. Giordani, Executive Vice
 President, (77,356); Bill A. MacDonald, Executive Vice President, Strategic
 Planning (44,250); Jack L. Sholl, Executive Vice President, Corporate Public
 Relations, (138,682); James G. McCoy, Executive Vice President, Corporate
 Human Resources (none); and Johnson Y.N. Lau, Senior Vice President, Research
 and Development, (18,750).
     ICN's directors who are not also executive officers are: Norman Barker,
 Jr. (141,690); Birch E. Bayh, Jr. (97,266); Alan F. Charles (100,478); Stephen
 D. Moses (84,505); Roger Guillemin M.D., Ph.D. (159,681); Jean-Francois Kurz
 (127,716); Thomas H. Lenagh (124,528); Roberts A. Smith Ph.D. (192,162);
 Andrei Kozyrev, Ph.D. (40,625), Kim Campbell, PC, QC (none), Rosemary Tomich
 (none) and Ray Irani (none).  Charles T. Manatt (36,787) is a nominee for
 election to the Board of Directors.
     ICN is also party to employment agreements with its executive officers
 which provide that, upon the occurrence of specific events following a change
 in control of ICN, the executive officers may be entitled to receive
 compensation and other payments.  Additionally, ICN's executive officers have
 options to acquire shares of ICN's common stock, some of which are unvested as
 of the date hereof.  These options will vest upon a change in control of ICN.
     Any securities of ICN International offered will not be and have not been
 registered under the U.S. Securities Act of 1933, as amended, and may not be
 offered or sold in the United States, absent registration or an applicable
 exemption from registration requirements.
     When available, copies of the preliminary prospectus relating to the
 offering of shares of Class A Common Stock of Ribapharm Inc. may be obtained
 from the offices of UBS Warburg LLC, 299 Park Avenue, New York, New York 10171
 (212) 821-4011.
     A registration statement relating to the shares of Class A common stock of
 Ribapharm Inc. has been filed with the U.S. Securities and Exchange Commission
 but has not yet become effective.  These securities may not be sold nor may
 offers to buy be accepted prior to the time the registration statement becomes
 effective.  This press release shall not constitute an offer to sell or the
 solicitation of an offer to buy, nor shall there be any sale of these
 securities in any state in which such offer, solicitation or sale would be
 unlawful prior to registration or qualification under the securities laws of
 any such state.
 
 

SOURCE ICN Pharmaceuticals, Inc.
    COSTA MESA, Calif., April 19 /PRNewswire/ -- ICN Pharmaceuticals, Inc.
 (NYSE:   ICN) announced today that it has filed with the Securities and Exchange
 Commission a preliminary proxy for its annual shareholders meeting to be held
 on May 30, 2001 for shareholders of record April 23, 2001.
     ICN's nominees for its Board of Directors are three distinguished business
 leaders whose qualifications and background add further strength to ICN's
 existing board.  They are:
 
     --  Dr. Ray Irani, Chief Executive Officer, Occidental Petroleum.
         Dr. Irani brings to the ICN Board almost 30 years of experience in top
         managerial positions at Occidental.  He serves as Honorary Chairman of
         the Board of Canadian Occidental Petroleum Ltd. and is a member of the
         Boards of Directors of Kaufman and Broad Home Corporation and Cedars
         Bank.  Dr. Irani is a member of the Board of Trustees at the
         University of Southern California.
 
     --  The Right Honorable Kim Campbell, former Primer Minister of Canada.
         Ms. Campbell is trained as a lawyer and political scientist
         specializing in international politics and Soviet government.  Ms.
         Campbell's career spans academia, the practice of law, administration
         and elected official at all three levels of government.  Ms. Campbell
         was appointed Consul General of Canada in Los Angeles where she was
         active in promoting trade development and investment especially in the
         areas of multimedia, information technology, biotechnology and the
         entertainment industry.
 
     --  Charles T. Manatt, partner and a founder in the law firm of Manatt,
         Phelps, Phillips and former U. S. Ambassador to the Dominican
         Republic.  Mr. Manatt served as Chairman of the Democratic National
         Committee from 1981 to 1985.  Mr. Manatt returns to the ICN Board on
         which he previously served for 15 years.  His level of knowledge about
         ICN and its industry is a real asset to the Company, the management
         and other ICN board members.
 
     The Company also announced that three current directors will not stand for
 re-election:  Thomas Lenagh, Andrei Kozyrev and Roberts A. Smith, Ph.D.
 Messrs. Lenagh and Kozyrev will join the Board of Directors of ICN
 International, one of the new entities being created under the ICN
 restructuring plan.  ICN International filed a draft circular with the
 Budapest and London stock exchanges on March 22, 2001 for an international
 offering of shares and global depositary receipts ("GDRs").
     Dr. Smith will join the board of Ribapharm, the biotechnology company
 being created under the restructuring plan.  Ribapharm has filed with
 Securities and Exchange Commission for an initial public offering.
     ICN stockholders are strongly advised to read the proxy statement relating
 to ICN's 2001 annual meeting of stockholders when it becomes available, as it
 will contain important information.  Stockholders will be able to obtain this
 proxy statement, any amendments to the proxy statement and other documents
 filed by ICN with the Securities and Exchange Commission for free at the
 Internet website maintained by the Securities and Exchange Commission at
 www.sec.gov.  In addition, ICN will mail the proxy statement to each
 stockholder of record on the record date to be established for the
 stockholders meeting.  ICN will also make additional copies of the proxy
 statement and any amendments to the proxy statement available for free to
 ICN's stockholders.  Please direct your request for the proxy statement to
 Investor Relations, ICN Pharmaceuticals, Inc., 3300 Hyland Avenue, Costa Mesa,
 California 92626, telephone (714) 545-0100, extension 3104.
 
     Participant Information
     In accordance with Rule 14a-12(a)(1)(i) of the Securities Exchange Act of
 1934, as amended, the information concerning persons who may be deemed
 participants is as follows:
     ICN, its executive officers and directors named below may be deemed to be
 participants in the solicitation of proxies for ICN's 2001 annual meeting of
 stockholders.  The number of shares of ICN common stock beneficially owned by
 each of these persons as of March 31, 2001 is listed in parenthesis after his
 or her name.
 
     Milan Panic, Chairman of the Board of Directors and Chief Executive
 Officer, (2,371,092); Adam Jerney, President and Chief Operating Officer and a
 director, (735,498); Richard A. Meier, Executive Vice President and Chief
 Financial Officer, (76,750); David C. Watt, Executive Vice President, General
 Counsel and Corporate Secretary, (188,204); John E. Giordani, Executive Vice
 President, (77,356); Bill A. MacDonald, Executive Vice President, Strategic
 Planning (44,250); Jack L. Sholl, Executive Vice President, Corporate Public
 Relations, (138,682); James G. McCoy, Executive Vice President, Corporate
 Human Resources (none); and Johnson Y.N. Lau, Senior Vice President, Research
 and Development, (18,750).
     ICN's directors who are not also executive officers are: Norman Barker,
 Jr. (141,690); Birch E. Bayh, Jr. (97,266); Alan F. Charles (100,478); Stephen
 D. Moses (84,505); Roger Guillemin M.D., Ph.D. (159,681); Jean-Francois Kurz
 (127,716); Thomas H. Lenagh (124,528); Roberts A. Smith Ph.D. (192,162);
 Andrei Kozyrev, Ph.D. (40,625), Kim Campbell, PC, QC (none), Rosemary Tomich
 (none) and Ray Irani (none).  Charles T. Manatt (36,787) is a nominee for
 election to the Board of Directors.
     ICN is also party to employment agreements with its executive officers
 which provide that, upon the occurrence of specific events following a change
 in control of ICN, the executive officers may be entitled to receive
 compensation and other payments.  Additionally, ICN's executive officers have
 options to acquire shares of ICN's common stock, some of which are unvested as
 of the date hereof.  These options will vest upon a change in control of ICN.
     Any securities of ICN International offered will not be and have not been
 registered under the U.S. Securities Act of 1933, as amended, and may not be
 offered or sold in the United States, absent registration or an applicable
 exemption from registration requirements.
     When available, copies of the preliminary prospectus relating to the
 offering of shares of Class A Common Stock of Ribapharm Inc. may be obtained
 from the offices of UBS Warburg LLC, 299 Park Avenue, New York, New York 10171
 (212) 821-4011.
     A registration statement relating to the shares of Class A common stock of
 Ribapharm Inc. has been filed with the U.S. Securities and Exchange Commission
 but has not yet become effective.  These securities may not be sold nor may
 offers to buy be accepted prior to the time the registration statement becomes
 effective.  This press release shall not constitute an offer to sell or the
 solicitation of an offer to buy, nor shall there be any sale of these
 securities in any state in which such offer, solicitation or sale would be
 unlawful prior to registration or qualification under the securities laws of
 any such state.
 
 SOURCE  ICN Pharmaceuticals, Inc.