Russian Press Says ICN to Open Research Lab

ICN Pharmaceuticals Inc., the largest drug maker in Eastern Europe, will open its own research center in Russia and invest $6 million in Russian scientists’ projects, the Russian daily Vedomosti reported.

The Costa Mesa company also will invest $200 million in 500 research projects over the next five years, the newspaper reported.

Corporate executives were unable Tuesday to confirm the report. Spokesman Ilya Baranikas said that the $6-million investment would not be much money for a company the size of ICN, which reported sales of $838 million last year.

The Russian publication said the research center should start operating in May. ICN, which wants to expand its market share in Russia, will pay for scientific research and then produce medicines at its five Russian plants, the paper said.