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ICN Reports First Quarter Profits Off 33%

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ICN Pharmaceuticals Inc., a Costa Mesa pharmaceuticals maker, reported net income of $22.6 million, or 28 cents a share, for the first quarter, down 33% from the $33.9 million, or 44 cents a share, for the 1998 first quarter. Revenue was down 27% to $176.1 million from $240.8 million. The company wrote off its Yugoslavian assets in the fourth quarter of 1998.

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