ICN to Expand Testing, Hire More Researchers

ICN Pharmaceuticals Inc. said Monday that it will step up research and development spending on antiviral and anticancer drugs and hire a dozen researchers.

The Costa Mesa drug maker said it expects to spend about $50 million over the next year or two on clinical trials, a “substantial” increase in research and development investments.

ICN will fund the additional investment with royalties it receives from Schering-Plough Corp., which has worldwide rights to market ICN’s ribavirin for hepatitis treatment. ICN estimates 1999 royalties from Schering-Plough at more than $100 million.

With the infusion of new funds, ICN said its researchers will begin studies that encompass clinical trials of anticancer drugs and antivirals that are more effective and less toxic than ribavirin.