PHARMACEUTICALS

Former Phar-Mor President Indicted: Former Phar-Mor Inc. President Mickey Monus was indicted on 129 counts for allegedly masterminding a nearly $500-million fraud and embezzlement scheme that forced the deep-discount drugstore chain he co-founded to seek bankruptcy court protection, the company said. Two other Phar-Mor officials, former Chief Financial Officer Patrick Finn and former Vice President Jeffrey Walley, were also indicted. Phar-Mor filed for bankruptcy court protection after announcing that it had discovered the alleged scheme. The same day, the company filed suit against its former auditors, Coopers & Lybrand, accusing them of negligence. The auditors countersued two days later. Both suits are pending.