ICN to Raise Funds by Selling Stock
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COSTA MESA — ICN Pharmaceuticals Inc. says it plans to sell 5 million shares of common stock valued at more than $110 million to help fund acquisitions and other growth plans in Eastern Europe. The shares will be sold “from time to time,” according to a report filed with the Securities and Exchange Commission.
ICN’s stock fell by 25 cents on Friday to close at $22.125 in trading on the New York Stock Exchange.
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