ICN Pharmaceuticals said it has channeled $10...

ICN Pharmaceuticals said it has channeled $10 million to its Viratek subsidiary, a research and development firm that has been testing antiviral drugs. The cash infusion was made through a private placement in which ICN purchased newly issued Viratek shares. Viratek had losses of $3.8 million in the first quarter of 1988 and $10.9 million in 1987. The company attributed the losses to weak sales of Ribavirin, a drug used to treat a respiratory virus common among infants. The drug is undergoing testing as a possible treatment for AIDS-related illnesses.