Unfortunately, the fight against AIDS is discouraging, for a number of reasons. ICN Pharmaceutical once seemed to offer hope. Its drug, Ribavirin, went to the Food and Drug Administration (FDA) for approval. At that time, in the mid-'80s, the FDA had little machinery for expediting medications tests with promise against AIDS. On the other hand, there was not sufficient evidence for approval. ICN became disheartened and sought approval abroad, securing Ireland's blessing for Ribavirin as a treatment in delaying the symptoms of AIDS. In addition, India recently approved Ribavirin for the treatment of hepatitis, herpes simplex and respiratory disorders. ICN stock, which once traded at 30, now trades at about 3. In this highly charged environment, it may be years before ICN finds fans for its shares. It has been losing money and may lose the equivalent of $1.75 a share this year, 75 cents a share next year.
Full text: Star Tribune, Dec 26, 1990
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