ICN Unit Cleared to Trade Its Shares on the American Stock Exchange : MEDICAL

ICN Biomedicals Inc., a Costa Mesa supplier of chemicals and instruments to biotechnology research and clinical diagnostic laboratories, said it has received approval to trade its shares on the American Stock Exchange. Starting Monday the firm will list its 8.6 million shares under the ticker symbol BIM.

The company previously traded in the NASDAQ National Market System under the symbol BIMD.

ICN Biomedicals is the founding division of its parent corporation, ICN Pharmaceuticals, which owns 85% of its stock. ICN Pharmaceuticals trades on the New York Stock Exchange.

Stock in ICN Pharmaceuticals’ other two subsidiaries, SPI Pharmaceuticals and Viratek Inc., still sell over the counter. SPI Pharmaceuticals markets and sells more than 300 drugs. Viratek is ICN’s pharmaceutical development arm.