ICN Calls Off Effort to Buy Bioglan Pharma
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Bloomberg News
Costa Mesa-based ICN Pharmaceuticals Inc. said Tuesday that it halted negotiations to buy debt-ridden British drug maker Bioglan Pharma Plc.
“These negotiations have terminated without an agreement having been reached,” ICN chairman and chief executive Milan Panic said in a statement.
The British company has been selling some smaller businesses in an attempt to hold off receivership and manage debt.
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