ICN Buys East European Drug Rights

ICN Pharmaceuticals Inc. acquired the rights to two nonsteroidal anti-inflammatory drugs for markets in Eastern Europe from an F. Hoffman-La Roche Ltd. affiliate, the Costa Mesa drug maker said Monday.

ICN said the agreement transfers all rights for Naprosyn and Apranax. Terms and conditions of the acquisition were not disclosed.

ICN had been distributing the products under license from La Roche in Hungary, the Czech Republic and Slavonia. The agreement transfers rights to ICN from La Roche and its affiliates in these markets as well as in Poland and the Russian Federation.

F. Hoffman-La Roche is a unit of Swiss drug company Roche Holding AG, which agreed last month to swap a stake in ICN Pharmaceuticals for 8.7% of an ICN unit with rights to the top-selling hepatitis C drug ribavirin and an early version of its potential successor.

ICN’s stock fell $1 a share to $25.75 on the New York Stock Exchange.