ICN Acquires Fourth Drug Plant in Russia
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COSTA MESA — ICN Pharmaceuticals Inc. said it has acquired a 72% stake in a Russian drug company, Marbiopharm, bringing to four the number of manufacturing plants that the drug maker operates in Russia.
Marbiopharm, about 600 miles east of Moscow, makes and distributes 74 products that generated sales of $27 million last year, ICN said.
The Costa Mesa company said it is now the leading pharmaceutical producer in Russia, with its four plants generating sales of $55 million for the first six months. ICN Chairman and Chief Executive Officer Milan Panic said the company hopes to acquire additional plants and distribution centers in Russia within the next year.
ICN also owns pharmaceutical companies in Yugoslavia and Hungary.
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