Company adds condition to tender offer for shares of Ribapharm.

2003 AUG 18 - (NewsRx.com & NewsRx.net) -- ICN Pharmaceuticals, Inc., (ICN) announced it is amending its previously announced cash tender offer for shares of common stock of Ribapharm, Inc., (RNA) to add a condition that the rights under Ribapharm's recently adopted stockholder rights plan must have been redeemed or made inapplicable to the offer.

ICN stated it is continuing to assess the status of its offer in light of the recent adverse summary judgment decision in the ribavirin patent litigation with generic drug manufacturers, as well as concerns over Ribapharm's ribavirin royalties in light of Schering-Plough Corp.'s July 7, 2003, earnings warning.

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