Milan Panić

Panić was born on 20 December 1929 in Belgrade, Kingdom of Yugoslavia (present-day Serbia) into a middle-class family. His father, a prominent government official, died when he was three years old, leaving Panić's mother to raise him and his sisters. Faced with a growing shortage of goods due to the Nazi occupation of Belgrade, Panić started a working vegetable farm to support his family and community.{{Cite news|title = Can-Do Entrepreneur Will Tackle Balkan War : Belgrade: Southland's Milan Panic may have taken on his toughest task in agreeing to be Yugoslav premier.|url = https://www.latimes.com/archives/la-xpm-1992-07-03-mn-1518-story.html|newspaper = Los Angeles Times|date = 1992-07-03|access-date = 2016-02-22|issn = 0458-3035|language = en-US|first = GREGORY|last = CROUCH}} As a young student, he gravitated toward geography and chemistry, assembling a small laboratory in his room to conduct experiments.{{Cite book|title = Prime Minister for Peace: My Struggle for Serbian Democracy|last = Murphy|first = Kevin|publisher = Rowman & Littlefield|year = 2015|location = London, UK|pages = 4}} During World War II, Panić, then only 14 years old, joined Josip "Marshal" Tito’s partisan resistance to fight the growing Nazi influence in Yugoslavia. After returning from military service, he resumed his secondary studies in biochemistry at the Belgrade Faculty of Technology. Panić enrolled as a medical student at the University of Belgrade medical school before transferring to the biochemistry degree program.

Panić was an avid cyclist from his youth into early adulthood.{{Cite book|title = Prime Minister for Peace: My Struggle for Serbian Democracy|last = Murphy|first = Kevin|publisher = Rowman & Littlefield|year = 2015|location = London, UK|pages = 12–15}} Over the course of his cycling career, he eventually rose to become a Yugoslavian national champion and competed at the international level on prominent teams including the Yugoslavian national and Olympic teams.{{Cite news|title = How Valeant became Canada's hottest stock|url = https://www.theglobeandmail.com/report-on-business/rob-magazine/how-valeant-became-canadas-hottest-stock/article8889241/?page=all|website = The Globe and Mail|access-date = 2016-02-22}} While traveling to an international cycling tournament in the Netherlands in 1955, Panić defected to Austria with his wife Jelica Panić (née Narandžić.)

After defecting to Austria in August 1955, Panić and his wife applied for asylum in Germany and moved to a West German refugee camp. While in Germany, he enrolled in the PhD program at the University of Heidelberg and worked as a furniture mover.{{Cite web|title = An extraordinary American life - Chapman University, Gov. Brown and the campus join in a tribute to former Yugoslavian Prime Minister Milan Panic|url = https://blogs.chapman.edu/happenings/2015/10/21/an-extraordinary-american-life/|website = Happenings| date=21 October 2015 |access-date = 2016-02-22}} After receiving asylum in Germany several months after his initial arrival, Panić applied for a program that resettled refugees in the United States.{{Cite book|title = Prime Minister for Peace: My Struggle for Serbian Democracy|last = Murphy|first = Kevin|publisher = Rowman & Littlefield|year = 2015|location = London|pages = 17}} Upon their acceptance into the program, he and Jelica moved to Fontana, California in early 1956. Panić worked in labs at Kaiser Steel and the University of Southern California, where he also studied biochemistry. In 1959, Panić decided to start his own business, the International Chemical and Nuclear Corporation (ICN).{{citation needed|date=November 2022}}

In July 1992, Panić assumed the position of Prime Minister of the Federal Republic of Yugoslavia, at the request of Yugoslav President Dobrica Ćosić and Serbian President Slobodan Milošević.{{Cite news|title = Southland Businessman Picked as Yugoslav Premier : Balkans: Milan Panic, an emigre and founder of ICN Pharmaceuticals, is to announce his decision today.|url = https://www.latimes.com/archives/la-xpm-1992-07-02-mn-1900-story.html|newspaper = Los Angeles Times|date = 1992-07-02|access-date = 2016-02-16|issn = 0458-3035|language = en-US|first1 = CAROL J.|last1 = WILLIAMS|first2 = JAMES M.|last2 = GOMEZ}} Panić set out goals of achieving peace, drafting a constitution, lifting U.N. sanctions, and pushing for the closure of concentration camps.{{Cite news|title = I was a CEO-turned-prime minister. Business acumen isn't enough to run a country.|url = https://www.washingtonpost.com/posteverything/wp/2016/02/09/i-was-a-ceo-turned-prime-minister-business-acumen-isnt-enough-to-run-a-country/|newspaper = The Washington Post|date = 2016-02-09|access-date = 2016-02-16|issn = 0190-8286|language = en-US|first = Milan|last = Panic}}{{Cite web|title = Impossible Dreamer : People.com|url = http://www.people.com/people/archive/article/0,,20108512,00.html|website = www.people.com|access-date = 2016-02-16}} In August 1992, he played a central role in the London International Conference on the Former Yugoslavia, which called for international attention to the country's worsening economic and political situation.{{Cite web|url = http://www1.chapman.edu/library/aboutus/events-2015-10-20-MilanPanic.pdf|title = Chapman University Presents: Milan Panic - Prime Minister for Peace|date = 20 October 2015|access-date = 28 January 2016|website = Chapman University|archive-date = 15 August 2016|archive-url = https://web.archive.org/web/20160815140645/http://www1.chapman.edu/library/aboutus/events-2015-10-20-MilanPanic.pdf|url-status = dead}} At the conference, Panić submitted a twelve-point Plan for Peace.{{Cite book|title = Homeland calling: Exile patriotism & the Balkan wars|last = Hockenos|first = Paul|publisher = Cornell University Press|year = 2003|location = Ithaca, NY}} One month later, Panić delivered a "Speech of Peace" address in front of the United Nations General Assembly.

On 2 December 1992, Panić announced his intention to challenge Milošević for the Serbian presidency, campaigning on a platform of economic reforms and bringing a peaceful resolution to the Bosnian War. Panić contended that Milošević had crippled Serbia by allowing unemployment and inflation to rise, while inciting isolation and sanctions by the international community.{{Cite news|title = Panic to Challenge Milosevic for Serbian Presidency : Yugoslavia: Residency requirement could thwart former Southern California businessman.|url = https://www.latimes.com/archives/la-xpm-1992-12-02-mn-1305-story.html|newspaper = Los Angeles Times|date = 1992-12-02|access-date = 2016-02-16|issn = 0458-3035|language = en-US|first = LAURA|last = SILBER}} Panić appealed directly to Serbian youth{{Cite web|title = A magnetic, maddening giant exiting O.C.|url = http://www.ocregister.com/articles/-67780--.html|website = The Orange County Register|access-date = 2016-02-16|date = 2006-05-24}} and older voters seeking a compromise in the ongoing conflict that included recognition of Croatia and Bosnia-Herzegovina in their current borders.{{Cite news|title = High Court in Serbia Clears Way For a Challenge to the President|url = https://www.nytimes.com/1992/12/10/world/high-court-in-serbia-clears-way-for-a-challenge-to-the-president.html|newspaper = The New York Times|date = 1992-12-10|access-date = 2016-02-16|issn = 0362-4331|first = Chuck|last = Sudetic}} In the 1992 Serbian general election, Panić came in second behind Milošević, receiving 32% of votes cast. In the aftermath, observers at the Helsinki Commission, political experts, and journalists alleged that Milošević and his supporters had manipulated the election results through improper use of state media and vote tampering.{{Cite news|title = How Milosevic Stole the Election|url = https://www.nytimes.com/1993/02/14/magazine/how-milosevic-stole-the-election.html|newspaper = The New York Times|date = 1993-02-14|access-date = 2016-02-16|issn = 0362-4331|first = Douglas E.|last = Schoen}}

Following his term as prime minister, Panić stayed involved in the effort to restore peace and democracy in the region. In December 1993, he began correspondence with U.S. President Bill Clinton{{Cite web|title = World leaders congratulate Clinton, worry|url = http://www.upi.com/Archives/1992/11/04/World-leaders-congratulate-Clinton-worry/7351025693304/|website = UPI|access-date = 2016-02-16}} regarding a proposed peace summit with all heads of state of the former Yugoslavia. In 1994, he met with Clinton and his advisers in California to discuss the proposal further. Following additional discussions over the next two years, in which Panić proposed a Balkans peace conference, the Clinton Administration convened the Conference on Establishing Peace at Wright-Patterson Air Force Base in Dayton, Ohio, USA.{{Cite book|title = Prime minister for Peace: My Struggle for Serbian Democracy|last = Murphy|first = Kevin|publisher = Rowman & Littlefield|year = 2015|location = London|pages = 176–178}}

The Conference culminated in the signing of the Dayton Accords on 21 November 1995, which brought an end to the Bosnian War by dividing Bosnia and Herzegovina into two separate entities: The Federation of Bosnia and Herzegovina and the Republika Srpska.{{Cite news|title = Srebrenica Massacre, After 20 Years, Still Casts a Long Shadow in Bosnia|url = https://www.nytimes.com/2015/07/09/world/europe/srebrenica-genocide-massacre.html|newspaper = The New York Times|date = 2015-07-08|access-date = 2016-02-16|issn = 0362-4331|first1 = Dan|last1 = Bilefsky|first2 = Somini|last2 = Sengupta}} Since the end of the war, Panić has continued to push for democracy in the Yugoslav region by convening political activists and advocating in the media.{{Cite news|title = Balkan Rebirth|last = Hirsh|first = Michael|date = 1996|work = Newsweek}}{{Cite news|title = OC's Panić at center stage|last = Mouchard|first = Andre|date = 28 March 1999|work = Orange County Register}}

In 1959, Panić launched ICN out of his garage just outside of Los Angeles, CA using $200 in startup capital. His initial business model was built upon synthesizing chemical compounds to sell to California research labs. During the 1960s, ICN marketed a generic version of L-Dopa, a widely used Parkinson's disease antidote.{{Cite news|title = Forever Young: In a Quiet Lab in Costa Mesa, Milan Panic and a Team of Scientists Are Close to Answering Mankind's Enduring Question: Why Die? |url=https://www.latimes.com/archives/la-xpm-1987-06-21-tm-9056-story.html |archive-url=https://web.archive.org/web/20151027192615/http://articles.latimes.com/1987-06-21/magazine/tm-9056_1_aging-process |archive-date=27 October 2015 |newspaper=Los Angeles Times |date = 1987-06-21 |access-date = 2022-06-14 |issn=0458-3035 |language=en-US |first=Mark |url-status = live |last=Christensen}} Panić led ICN over the following decades to develop the building blocks for several thousand potential new drugs.{{Cite news|title = Struggling Drug Firm Pins Hopes on Ribavirin : ICN Pharmaceuticals' Gamble May Put It Among the World's Medical Giants|url = https://www.latimes.com/archives/la-xpm-1985-04-02-fi-19488-story.html|newspaper = Los Angeles Times|date = 1985-04-02|access-date = 2016-02-19|issn = 0458-3035|language = en-US|first = CARLA|last = LAZZARESCHI}} As ICN grew, Panić moved his operations from Pasadena, CA to a new research lab in Costa Mesa, CA and renamed the company ICN Pharmaceuticals. In 1967, ICN was officially listed on the New York Stock Exchange.{{Cite book|title = The Good, the Bad and the Living Dead: Venture Capital Cases in the Healthcare Industry|url = https://books.google.com/books?id=jy602xHpKzwC|publisher = Moment LLC|date = 2005-07-01|isbn = 9780976388807|language = en|first = Albert J.|last = Henry}}

In 1972, ICN discovered the ribavirin compound, the earliest recorded broad spectrum antiviral agent.{{Cite journal|title = Ribavirin--current status of a broad spectrum antiviral agent|journal = Expert Opinion on Pharmacotherapy|date = 2001-08-01|issn = 1465-6566|pmid = 11585000|pages = 1317–1324|volume = 2|issue = 8|doi = 10.1517/14656566.2.8.1317|first = N. J.|last = Snell|s2cid = 46564870}}{{Cite news|title = FDA Approves Further Clinical Tests of AIDS Drug Ribavirin by Health Institutes|url = https://www.latimes.com/archives/la-xpm-1987-12-03-fi-26236-story.html|newspaper = Los Angeles Times|date = 1987-12-03|access-date = 2016-02-19|issn = 0458-3035|language = en-US|first = LESLIE|last = BERKMAN}}{{Cite journal|title = Broad-Spectrum Antiviral Activity of Virazole: 1-f8- D-Ribofuranosyl- 1,2,4-triazole- 3-carboxamide|journal = Science|date = 1972-08-25|issn = 0036-8075|pmid = 4340949|pages = 705–706|volume = 177|issue = 4050|doi = 10.1126/science.177.4050.705|language = en|first1 = Robert W.|last1 = Sidwell|first2 = John H.|last2 = Huffman|first3 = Lois|last3 = G. P. Khare|first4 = B.|last4 = Allen|first5 = Roland|last5 = J. T. Witkowski|first6 = K.|last6 = Robins|s2cid = 43106875}}{{Cite journal|title = Ribavirin for patients with Crimean–Congo haemorrhagic fever: a systematic review and meta-analysis|journal = Journal of Antimicrobial Chemotherapy|date = 2011-06-01|issn = 0305-7453|pmid = 21482564|pages = 1215–1222|volume = 66|issue = 6|doi = 10.1093/jac/dkr136|language = en|first1 = Sibel|last1 = Ascioglu|first2 = Hakan|last2 = Leblebicioglu|first3 = Haluk|last3 = Vahaboglu|first4 = K. Arnold|last4 = Chan|doi-access = free}} Chemists Joseph T. Witkovski and Ronald K. Robins were integral to the compound's creation.{{Cite web|title = Ribavirin History|url = http://www.news-medical.net/health/Ribavirin-History.aspx|website = News-Medical.net|access-date = 2016-02-19|date = 2010-04-12}} In 1985, ribavirin was approved under the name Virazole by the Food and Drug Administration for the treatment of respiratory syncytial virus (RSV), an upper respiratory tract disease that primarily affects children. In 1991, ICN created the SPAG-2 (Small Particle Aerosol Generator) nebulizer to administer an aerosolized form of ribavirin during hospital treatments of specific viral infections.{{Cite web|url = http://clinicalcenter.nih.gov/ccmd/cctrcs/pdf_docs/Aerosol%20Therapy/02-Aero__of_Ribavirin-Mask.pdf|title = Aerosolization of Ribavirin through a Mask, Hood, or Tent|date = January 1990|access-date = 19 February 2016|website = www.clinicalcenter.nih.gov|publisher = National Institutes of Health|url-status = dead|archive-url = https://web.archive.org/web/20161227103918/https://clinicalcenter.nih.gov/ccmd/cctrcs/pdf_docs/Aerosol%20Therapy/02-Aero__of_Ribavirin-Mask.pdf|archive-date = 27 December 2016|df = dmy-all}}

In 1985, ICN and the Eastman-Kodak company launched a six-year, $45 million joint venture to research drugs that slow, halt, or reverse the aging process. Between 1986 and 1987, the FDA contended that ICN had exaggerated Virazole's effectiveness in treating other illnesses including the AIDS virus.{{Cite news|title = F.D.A. TELLS COMPANY TO REVISE DRUG DESCRIPTION|url = https://www.nytimes.com/1986/04/13/us/fda-tells-company-to-revise-drug-description.html|newspaper = The New York Times|date = 1986-04-13|access-date = 2016-02-19|issn = 0362-4331|first = Irvin Molotsky, Special To The New York|last = Times}}{{Cite news|title = DATA ON AIDS DRUG CALLED MISLEADING|url = https://www.nytimes.com/1987/05/29/us/data-on-aids-drug-called-misleading.html|newspaper = The New York Times|date = 1987-05-29|access-date = 2016-02-19|issn = 0362-4331|first = Philip M. Boffey, Special To The New York|last = Times}} ICN settled with the FDA in 1991. In January 1988, ICN acquired 7.3% of Swiss pharmaceutical company Hoffman-La Roche, as part of a reported acquisition strategy to expand ICN's reach and marketing capabilities.{{Cite news|title = ICN Owns 7.3% of Hoffman-La Roche : Costa Mesa Firm Raises Share of Huge Stake in Swiss Drug Company|url = https://www.latimes.com/archives/la-xpm-1988-01-06-fi-22605-story.html|newspaper = Los Angeles Times|date = 1988-01-06|access-date = 2016-02-19|issn = 0458-3035|language = en-US|first = LESLIE|last = BERKMAN}}

Following the fall of the Berlin Wall, ICN acquired multiple pharmaceutical firms in Eastern Europe. In May 1991, ICN bought 75% of Galenika, Yugoslavia's largest drug maker at the time. After eight months, the new subsidiary ICN-Galenika was producing revenues of $364 million.{{Cite news|title = No Peace For Milan Panic|url = https://www.bloomberg.com/bw/stories/1992-07-05/no-peace-for-milan-panic|newspaper = Bloomberg.com| date=6 July 1992 |access-date = 2016-02-19}} In April 1992, ICN Pharmaceuticals and ICN-Galenika partially financed a $100,000 initiative to vaccinate children in the Yugoslav province of Kosovo.{{Cite web|title = YUGOSLAV VACCINE PROGRAM - Pharmaceutical industry news|url = http://www.thepharmaletter.com/article/yugoslav-vaccine-program|website = www.thepharmaletter.com|access-date = 2016-02-19|first = The Pharma|last = Letter}} In 1995, the Securities and Exchange Commission (SEC) investigated ICN over shareholder concerns related to Mr. Panić's sale of company stock before a key regulatory decision by the FDA.{{Cite news|title = COMPANY NEWS;ICN PHARMACEUTICALS SAYS INVESTIGATION WIDENS|url = https://www.nytimes.com/1996/05/10/business/company-news-icn-pharmaceuticals-says-investigation-widens.html|newspaper = The New York Times|date = 1996-05-10|access-date = 2016-02-19|issn = 0362-4331|last = Ap}} After a three-year investigation, the SEC dropped its inquiry in 1998 with no charges filed.{{Cite news|title = COMPANY NEWS; S.E.C. HALTS AN INQUIRY ON ICN STOCK TRADING|url = https://www.nytimes.com/1998/09/19/business/company-news-sec-halts-an-inquiry-on-icn-stock-trading.html|newspaper = The New York Times|date = 1998-09-19|access-date = 2016-02-19|issn = 0362-4331}}

In 1998, the FDA approved Virazole for the treatment of Hepatitis C in conjunction with another medication called interferon. Virazole eventually became a global standard treatment for multiple pediatric and adult medical conditions. Uses include the effective treatment of chronic Hepatitis C in conjunction with interferon,{{Cite journal|title = Efficacy and safety of pegylated interferon alfa-2a or alfa-2b plus ribavirin for the treatment of chronic hepatitis C in children and adolescents: a systematic review and meta-analysis|journal = Clinical Infectious Diseases|date = 2013-04-01|issn = 1537-6591|pmid = 23243171|pages = 961–967|volume = 56|issue = 7|doi = 10.1093/cid/cis1031|first1 = Eric|last1 = Druyts|first2 = Kristian|last2 = Thorlund|first3 = Ping|last3 = Wu|first4 = Steve|last4 = Kanters|first5 = Sanni|last5 = Yaya|first6 = Curtis L.|last6 = Cooper|first7 = Edward J.|last7 = Mills|doi-access = free}} multiple viral fevers including influenza, parainfluenza, adenovirus, measles,{{Cite journal|title = Use of Ribavirin in the Treatment of Respiratory Syncytial Virus Infection|url = http://pediatrics.aappublications.org/content/92/3/501|journal = Pediatrics|date = 1993-09-01|issn = 0031-4005|pmid = 8361820|pages = 501–504|volume = 92|issue = 3|language = en|first = Committee on Infectious|last = Diseases| doi=10.1542/peds.92.3.501 | s2cid=67945489 }} Crimean-Congo hemorrhagic fever and Lassa fever, as well as renal impairment and thyroid cancer.{{Cite web|title = Rebetol, Ribasphere (ribavirin) dosing, indications, interactions, adverse effects, and more|url = http://reference.medscape.com/drug/rebetol-ribasphere-ribavirin-342625|website = reference.medscape.com|access-date = 2016-02-19}}

During the 1990s, Panić resolved four sexual harassment suits filed by former employees of ICN. In 2002, ICN settled an SEC civil lawsuit related to misleading statements issued regarding their products.{{Cite news|title = COMPANY NEWS; ICN TO PAY $1 MILLION TO SETTLE AN S.E.C. LAWSUIT|url = https://www.nytimes.com/2002/11/26/business/company-news-icn-to-pay-1-million-to-settle-an-sec-lawsuit.html|newspaper = The New York Times|date = 2002-11-26|access-date = 2016-02-19|issn = 0362-4331}}{{cite news| title=ICN Chief Milan Panic Resigns |url=https://www.latimes.com/archives/la-xpm-2002-jun-13-fi-icn13-story.html |newspaper=Los Angeles Times |archive-url=https://web.archive.org/web/20130814223401/http://articles.latimes.com/2002/jun/13/business/fi-icn13 |archive-date=2013-08-14 |date=2002-06-13 |access-date=2022-06-14 |issn=0458-3035 |language=en-US |first=Ronald D. | url-status=live |last=White}} Panić decided to retire as CEO and Chairman of ICN in June 2002 after opposing shareholders took control of ICN's Board of Directors.{{Cite news|title = COMPANY NEWS; FOUNDER OF ICN PHARMACEUTICALS TO RETIRE AS CHIEF|url = https://www.nytimes.com/2002/06/13/business/company-news-founder-of-icn-pharmaceuticals-to-retire-as-chief.html|newspaper = The New York Times|date = 2002-06-13|access-date = 2016-02-19|issn = 0362-4331}} Over the course of his career as Chairman, CEO, and President, Panić led ICN to annual sales in 90 countries exceeding $672 million (USD), with over 600 drugs in its portfolio by his final year in 2001.{{Cite web|title = Milan Panic, director of ICN Pharmaceuticals - Panke "treats" Galenika again|url = http://www.ekapija.com/website/en/page/674031/Milan-Panic-director-of-ICN-Pharmaceuticals-Panke-treats-Galenika-again|website = www.ekapija.com|access-date = 2016-02-19}}{{cite news |title=Company News: ICN Pharmaceuticals Planning a Huge Acquisition |url=https://www.nytimes.com/1998/05/09/business/company-news-icn-pharmaceuticals-planning-a-huge-acquisition.html |archive-url=https://web.archive.org/web/20150527080308/http://www.nytimes.com/1998/05/09/business/company-news-icn-pharmaceuticals-planning-a-huge-acquisition.html |archive-date=2015-05-27 |url-status=unfit |newspaper=The New York Times |date=1998-05-09 |access-date=2021-06-14 |issn=0362-4331}}{{cbignore}}{{Cite web|title = Milan Panic - Legacy|url = http://milanpanic.com/legacy.htm|website = milanpanic.com|access-date = 2016-02-19|url-status = dead|archive-url = https://web.archive.org/web/20160207132322/http://milanpanic.com/legacy.htm|archive-date = 7 February 2016|df = dmy-all}}

Panić maintains other business entities and investments both in the U.S. and internationally. In 2003, after Panić's departure, ICN Pharmaceuticals changed its name to Valeant Pharmaceuticals International, Inc.{{Cite web|title = ICN Pharma changes name to Valeant - L.A. Biz|url = http://www.bizjournals.com/losangeles/stories/2003/11/10/daily21.html|website = L.A. Biz|access-date = 2016-02-19}}

After retiring from ICN, Panić bought a bioassay subsidiary of ICN Biomedicals and changed its name to MP Biomedicals.{{Cite web|title = The MP Story - MP Biomedicals|url = http://www.mpbio.com/The_MP_Story.php|website = www.mpbio.com|access-date = 2016-02-19}} MP specializes in research and development of life science and diagnostic products.{{Cite web|title = China Co. Buys Milan Panic's Biomed Firm {{!}} Orange County Business Journal|url = http://www.ocbj.com/news/2015/oct/26/chinese-company-buys-santa-ana-biomed-firm/|website = www.ocbj.com| date=26 October 2015 |access-date = 2016-02-19}} MP's global headquarters is located in Santa Ana, California, with its US headquarters and central distribution center located in Solon, Ohio. The company maintains global operations in North America, South America, Asia, Australia, and Europe. On 14 June 2010, Panić and MP acquired ICPBio International LTD., a New Zealand-based protein biologics manufacturing company.{{Cite web|title = MP Biomedicals to acquire ICPbio International|url = http://www.news-medical.net/news/20100614/MP-Biomedicals-to-acquire-ICPbio-International.aspx|website = News-Medical.net|access-date = 2016-02-19|date = 2010-06-14}} On 11 December 2014, the FDA approved MP Diagnostics HTLV Blot 2.4, the first FDA-licensed supplemental test for Human T-cell Lymphotropic Virus-I/II (HTLV-I/II).{{Cite web|title = Press Announcements - FDA approves first test to confirm the presence of Human T-cell Lymphotropic Virus-I/II antibodies|url = https://www.fda.gov/NewsEvents/Newsroom/PressAnnouncements/ucm426605.htm|website = www.fda.gov|access-date = 2016-02-19|language = en}} In October 2015, Panić announced the sale of MP Biomedicals to China-based Valiant Fine Chemicals Co. Ltd., a developer of chemical products.

Panić provides philanthropic support to various universities, research programs, museums, political causes and charities through both his Milan Panić Jr. Foundation and MP Global Enterprises & Associates, LLC. As part of his philanthropic efforts, he has supported the Muscular Dystrophy Association{{Cite web|title = The Crowd: Giving the Gift of Hope for muscular dystrophy|url = http://www.latimes.com/tn-dpt-me-0628-the-crowd-20130627-story.html|website = Los Angeles Times| date=27 June 2013 |access-date = 2016-02-22}} and sponsored scholarships at the MIT-Harvard Medical School Program. Panić has lectured frequently on peacebuilding at George Washington University, University of Southern California, and Chapman University - where he is a member of the President's cabinet.{{Cite web|title = Milan Panic offers an idealistic political vision at Chapman|url = http://www.ocregister.com/articles/panic-688455-many-world.html|website = The Orange County Register|access-date = 2016-02-22|date = 2015-10-21}}{{Cite web|title = Governor Jerry Brown and former Prime Minister of Yugoslavia Milan Panic to visit Chapman University {{!}} - Event is free and open to the publicPress Room|url = https://blogs.chapman.edu/press-room/2015/10/16/governor-jerry-brown-and-former-prime-minister-of-yugoslavia-milan-panic-to-visit-chapman-university/|website = blogs.chapman.edu|access-date = 2016-02-22}}{{Cite web|url = https://www.chapman.edu/about/_files/trustees-pdfs/chapman-university-governing-boards.pdf|title = Chapman University Board of Trustees|access-date = 1 February 2016|publisher = Chapman University}}

Panić has provided support to the Freedoms Foundation in Valley Forge, PA, penning the Bill of Responsibilities and donating a Bill of Responsibilities Monument to their headquarters in 1990.{{Cite news|title = Yugoslav Immigrant Donates Bill of Responsibilities Monument|date = 1990|work = Report from Valley Forge}} He is a frequent supporter of California cultural institutions including the Los Angeles Opera, where he serves as a Vice Chairman and has sponsored season-opening performances since 2002. He has also provided charitable support to City of Hope Cancer Research and Treatment Center.{{Cite web|title = Around Town: Gala raises $1.6 million for cancer research|url = http://www.latimes.com/tn-dpt-me-0304-around-town-20150304-story.html|website = Los Angeles Times| date=5 March 2015 |access-date = 2016-02-22}}{{Cite web|title = The Crowd: Doctor a Pal to cancer survivors|url = http://www.latimes.com/tn-dpt-et-0320-the-crowd-20150316-story.html|website = Los Angeles Times| date=16 March 2015 |access-date = 2016-02-22}} Panić was married to mezzo-soprano opera singer Milena Kitic before the couple divorced; together they had a son.{{cite news |last1=Mangan |first1=Timothy |title=Milena Kitic, Orange County's own opera star, to perform 'Carmen' with Pacific Symphony |url=https://www.ocregister.com/2015/02/16/milena-kitic-orange-countys-own-opera-star-to-perform-carmen-with-pacific-symphony/ |work=The Orange County Register |date=16 February 2015}}

Panić was awarded the Ellis Island Medal of Honor by the Statue of Liberty-Ellis Island Foundation on 27 October 1986.{{Cite news|title = 80 NAMED AS RECIPIENTS OF ELLIS ISLAND AWARDS|url = https://www.nytimes.com/1986/10/16/nyregion/80-named-as-recipients-of-ellis-island-awards.html|newspaper = The New York Times|date = 1986-10-16|access-date = 2016-02-22|issn = 0362-4331}} He was named "European of the Year" in 1992 by the Wall Street Journal Europe, which cited his efforts while serving Yugoslavian Prime Minister to introduce democratic, free market reforms, bring peace, and galvanize opposition to Slobodan Milošević.{{Cite news|title = Europeans of the Year|date = 31 December 1992|work = Wall Street Journal Europe}} Panić was presented the Chamber Global Award by the Chamber of Commerce Belgium-Luxembourg South-Eastern Europe in Brussels on 17 December 2002.{{Cite web|title=Chamber.be Award|url=https://www.chamber.be/award|access-date=2021-07-20|website=www.chamber.be|archive-date=20 July 2021|archive-url=https://web.archive.org/web/20210720130132/https://www.chamber.be/award|url-status=dead}} In February 2015, the Lifeline Humanitarian Organization of New York awarded Panić with a lifetime achievement award for his philanthropic support of academic, cultural, political, and relief organizations around the world.{{Cite web|title = Crown Prince and Crown Princess host Lifeline Humanitarian Organization charity dinner in Beverley Hills, California|url = http://www.royalfamily.org/crown-prince-and-crown-princess-host-lifeline-humanitarian-organization-charity-dinner-in-beverley-hills-california/|website = Royal Family of Serbia| date=21 February 2015 |access-date = 2016-02-22}}

{{reflist|2}}

• Prime Minister for Peace: My Struggle for Serbian Democracy. With Kevin C. Murphy. Lanham, MD: Rowman and Littlefield., 2015.

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{{succession box|title=Prime Minister of the Federal Republic of Yugoslavia|before=Aleksandar Mitrović
Acting Prime Minister of Yugoslavia|after=Radoje Kontić|years=1992–1993}}

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{{Prime Minister of FR Yugoslavia}}

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Category:1929 births

Category:Living people

Category:Sportspeople from Belgrade

Category:Businesspeople from Los Angeles

Category:Candidates for President of Serbia

Category:Yugoslav emigrants to the United States

Category:Yugoslav Partisans members

Category:Heidelberg University alumni

Category:Politicians from Belgrade

Category:Child soldiers in World War II