WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE. EXHIBIT 27.1 FINANCIAL DATA SCHEDULE <ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from ICN Pharmaceuticals, Inc.'s March 31, 1998 Consolidated Condensed Financial Statements and is qualified in its entirety by reference to such financial statements. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> Dec-31-1998 <PERIOD-START> Jan-01-1998 <PERIOD-END> Mar-31-1998 <CASH> 127,527 <SECURITIES> 12,692 <RECEIVABLES> 422,693 <ALLOWANCES> (14,458) <INVENTORY> 155,750 <CURRENT-ASSETS> 745,176 <PP&E> 420,546 <DEPRECIATION> (57,970) <TOTAL-ASSETS> 1,553,697 <CURRENT-LIABILITIES> 184,344 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 1 <COMMON> 718 <OTHER-SE> 863,167 <TOTAL-LIABILITY-AND-EQUITY> 1,553,697 <SALES> 239,796 <TOTAL-REVENUES> 239,796 <CGS> 107,969 <TOTAL-COSTS> 107,969 <OTHER-EXPENSES> 5,504 <LOSS-PROVISION> 1,694 <INTEREST-EXPENSE> 6,614 <INCOME-PRETAX> 45,117 <INCOME-TAX> 3,384 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 33,948 <EPS-PRIMARY> .47 <EPS-DILUTED> .44