3 County Issues Post Strong Gains : Drug Stocks Attract Wall Street Interest

Three Orange County medical firms saw their stocks attract particular attention Wednesday, with ICN Pharmaceuticals reaching a new 52-week high of $15.125 before closing at $15 per share in trading on the New York Stock Exchange, up 75 cents for the day.

Newport Pharmaceuticals made the over-the-

counter market’s list of most active stocks with 616,100 shares traded. The stock gained $1.375 to close at $13.25 a share.

And Bomed Medical Manufacturing Ltd., an Irvine maker of instruments for monitoring the heart and circulatory systems, posted one of the largest percentage gains of all over-the-counter stocks Wednesday as its shares jumped 22.2% in value to $4.13, up 75 cents.

Last September, Newport Pharmaceuticals became the first drug company to file for U.S. Food and Drug Administration approval of a drug that would be used specifically to combat the deadly AIDS virus. The drug, Isoprinosine, is used overseas to treat a variety of diseases ranging from herpes to measles and was recently approved for treatment of AIDS in New Zealand. However, Isoprinosine has not yet received FDA approval for use in the United States.

ICN’s drug Virazole, already approved for treating an infant respiratory ailment, is undergoing clinical trials on about 350 patients who have been diagnosed as having AIDS-related complex, an ailment with milder symptoms than AIDS. The testing is a preliminary step toward possible FDA approval.

Officials of the companies said they could not explain their stocks’ improved performance Wednesday.