SCHEDULE 14A INFORMATION Proxy Statement Pursuant To Section 14(a) Of The Securities Exchange Act Of 1934 Filed by the Registrant [X] Filed by a Party other than the Registrant [_] Check the appropriate box: [_] Preliminary Proxy Statement [_] CONFIDENTIAL, FOR USE OF THE COMMISSION ONLY (AS PERMITTED BY RULE 14A-6(E)(2)) [_] Definitive Proxy Statement [X] Definitive Additional Materials [_] Soliciting Material Pursuant to Section 240.14a-12 ICN Pharmaceuticals, Inc. -------------------------------------------------------- (Name of Registrant as Specified in its Charter) N/A -------------------------------------------------------- (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): [X] No fee required. [_] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11. (1) Title of each class of securities to which transaction applies: ------------------------------------------------------------------- (2) Aggregate number of securities to which transaction applies: ------------------------------------------------------------------- (4) Proposed maximum aggregate value of transaction: ------------------------------------------------------------------- (5) Total fee paid: ------------------------------------------------------------------- [_] Fee paid previously with preliminary materials. [_] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. (1) Amount Previously Paid: ------------------------------------------------------------------- (2) Form, Schedule or Registration Statement No.: ------------------------------------------------------------------- (3) Filing Party: ------------------------------------------------------------------- (4) Date Filed: ------------------------------------------------------------------- Following is the text of slides that have been revised from an ICN presentation first made to investors on or about May 16, 2001: Hepatitis C Treatment Market Opportunity ----------------------------------------------------------------------------- Royalties from Ribavirin 1997-2001 CAGR +135% E [BAR GRAPH OMITTED - 1997 - $6M 1998 - $37M (Rebetron(R) Approved in June 1998) 1999 - $109M 2000 - $155M 2001 - $180-190M E (1Q/01=$28M)] ----------------------------------------------------------------------------- Financial Overview ----------------------------------------------------------------------------- ICN Achieves Record Revenues in 2000 1995-2000 CAGR +24% [BAR GRAPH OMITTED - 1995* - $273M 1996* - $347M 1997* - $527M 1998* - $696M 1999 - $747M 2000 - $800M] * Excludes revenue from ICN Yugoslavia ----------------------------------------------------------------------------- Financial Overview ----------------------------------------------------------------------------- 2000 Operating Income* 1995-2000 CAGR +31% [BAR GRAPH OMITTED - 1995** - $47M 1996** - $43M 1997** - $64M 1998**(*) - $121M 1999 - $199M 2000 - $184M] * Continuing Operations (*) Excludes EE charges ** Excludes the results of operations of ICN Yugoslavia ----------------------------------------------------------------------------- Financial Overview ----------------------------------------------------------------------------- Statement of Income Quarter Ended March 31 ($ in millions except EPS) 2001 2000 Revenues $199.0 $192.3 Gross Profit 129.2 131.5 SG&A, Amortization & R&D 88.0 79.0 ------------ ------------ Operating Income 41.2 52.5 Interest, net 10.8 12.5 Translation 0.4 1.6 ------------ ------------ Pretax income before minority interest 30.0 38.4 Income Taxes 9.3 11.1 Minority Interest (0.3) (0.1) ------------ ------------ Net Income before extraordinary item $21 $27.4 ============ ============ Diluted EPS $0.26 $0.34 ----------------------------------------------------------------------------- Financial Overview ----------------------------------------------------------------------------- Consolidated Balance Sheet - Assets ($000's) March December 2001 2000 ----------- ------------ Cash $169,214 $155,585 Accounts receivable 194,322 225,639 Inventories 159,650 170,263 Prepaid expenses 15,793 13,929 ----------- ------------ Current assets 583,979 565,416 Property, plant & equipment 379,119 367,229 Other assets 549,002 544,427 ----------- ------------ Total assets $1,467,100 $1,477,072 ============ ============ ----------------------------------------------------------------------------- Financial Overview ----------------------------------------------------------------------------- Consolidated Balance Sheet Liabilities and Stockholders' Equity ($000's) March December 2001 2000 ------------ ------------ Current liabilities $ 153,674 $ 158,777 Long-term debt 510,643 510,781 Other liabilities 44,733 50,320 ------------ ------------ Total liabilities 709,050 719,878 Stockholders' equity 758,050 757,194 ------------ ------------ Total liabilities and stockholders' equity $1,467,100 $1,477,072 ============ ============ -----------------------------------------------------------------------------