More Expansion In Eastern Europe By ICN

26 May 1996

ICN Pharmaceuticals' subsidiary in Yugoslavia has already reached one-half of the nearly $50 million annual export business it had before the Bosnian conflict began. The company sees this as a sign that business is increasing following the recent suspension of economic sanctions aganist Yugosalvia.

The company is in the process of launching Eli Lilly's antidepressant Prozac (fluoxetine), for which it has a license, as Flunirin in Yugoslavia. Affiliate ICN Galenika will also be selling the product as Flunirin in Russia.

During the three-year conflict in the region, ICN Galenika was forced to halt its export business to other eastern European countries, including Russia. In the first three months of 1996, just after the suspension of economic sanctions against Yugoslavia, ICN received $23 million in export orders from Russia and other eastern European countries.

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