Viratek Shares Begin Trading on American Stock Exchange
COSTA MESA —
Viratek Inc., a subsidiary of drug maker ICN Pharmaceuticals Inc., began trading its stock on the American Stock Exchange on Monday.
Viratek, which moved its shares from the NASDAQ market, joins its sister companies, ICN Biomedicals Inc. and SPI Pharmaceuticals Inc., which are also traded on AMEX. Parent ICN Pharmaceuticals is traded on the New York Stock Exchange.
Together, the four companies form a $1.3-billion conglomerate with worldwide manufacturing and distribution centers.
Viratek develops pharmaceutical compounds that are derived from DNA and RNA. It’s main focus has been in developing antiviral and anti-cancer drugs.
On its first day of trading, Viratek stock opened on a bid price of $8.37, but closed at $8.25, down 12 cents a share.
