BIOTECHNOLOGY

New Options: It’s been a hectic time for the folks at ICN Pharmaceutics Inc. The company and its three subsidiaries just completed its series of annual stockholders’ meetings.

The last in a flurry of press releases to the media concerning the drug manufacturer and distributor didn’t emanate from the company’s busy press office, but from the American Stock Exchange, which opened put and call options for shares of ICN’s chief subsidiary, SPI Pharmaceuticals.

SPI Pharmaceuticals opened with exercise prices of $22.50, $25 and $30, and position limits of 3,000 contracts, Amex announced. Initial expiration months are May, June, September and December. The team of Cohen, Cohn, Duffy & McGowan Inc./Aegis & Co. is the specialist unit for the new options.