ICN's Motion for Summary Judgment Continued for Six Months / Company Notes Insider Trading Allegations Against Chairman Were Never Claimed David Watt, ICN Offic

COSTA MESA, Calif. (PROTEXT) - ICN Pharmaceuticals, Inc.(NYSE: ICN) and Milan Panic announced today that they wouldproceed expeditiously to conduct discovery in response to aDecember 8, 1999, court order continuing for six months theirmotion for summary judgement seeking dismissal of the complaintfiled by the Securities and Exchange Commission ("SEC"). The SEChad sought the continuance arguing that it had not yet had theopportunity to take discovery in the federal lawsuit. The Court did not address the merits of the summary judgmentmotion, concluding that the motion was premature. The Courtordered that the summary judgment motion remain pending for sixmonths or until such time that the parties have conductedadequate discovery. ICN attorney Arnold I. Burns stated that, "The SEC conductedover four years of unilateral and unfettered discovery during itsinvestigation. Based upon that investigation, we believe thatsummary judgment dismissing the case is warranted. While wecannot imagine what additional discovery the SEC requires inorder to support its case, we will move forward expeditiouslywith discovery of our own and seek to have our motion for summaryjudgment decided as soon as possible." The Court did grant the motion to dismiss the SEC's complaintas against David Watt. It denied, as premature, the motion tostrike from the complaint the SEC's request for a director anofficer bar order against ICN's Chairman, Milan Panic. Mr. Burns continued, "the SEC's continuing reference toalleged insider sales by Milan Panic is nothing short ofdisingenuous given that it dropped its insider tradinginvestigation against Mr. Panic, and has not sued him for insidertrading." Last year, as anticipated by the 1994 press release at issuein the SEC's suit, the FDA twice approved ribavirin incombination with another drug therapy as a much heraldedtreatment for chronic hepatitis C, and it is now beingsuccessfully marketed. Earlier this year the same treatment wasapproved for use in the European Union for the treatment ofhepatitis C. Since its approval tens of thousands of patientshave been treated and ICN has received in excess of $100 millionin royalties. ICN is a research-based global pharmaceutical company thatmanufactures, markets and distributes a broad range ofprescription and non-prescription pharmaceuticals under the ICNbrand name. ICN has operations in North and Latin America,Western, Central and Eastern Europe, and the Pacific Rimcountries. Additional information is also available on theCompany's website at http://www.icnpharm.com . The 'Safe Harbor' Statement Under The Private SecuritiesLitigation Reform Act Of 1995. This press release containsforward-looking statements that involve risks and uncertaintiesincluding, but not limited to, projections of future sales,operating income, subsidiary reorganization, regulatory approvalprocesses, operations in countries with unstable economies, theprogress of FDA reviews, and other risks detailed from time totime in the Company's Securities and Exchange Commission filings.ots Original Text Service: ICN Pharmaceuticals, Inc. Internet:http://www.newsaktuell.de Contact: Ilya Baranikas of ICNPharmaceuticals, Inc., 714-545-0100, ext. 2202; or Arnold I.Burns, Esq., 212-698-3185, or 212-935-1085, for ICNPharmaceuticals, Inc. Web site: http://www.icnpharm.com

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