Business Editors/Health/Medical Writers
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Feb. 11, 2004
Andrx Corporation (Nasdaq:ADRX) ("Andrx") today announced that the United States Food and Drug Administration has approved its Abbreviated New Drug Applications for its bioequivalent versions of Lotensin(R) (Benazepril Hydrochloride Tablets, 5 mg, 10 mg, 20 mg, and 40 mg) and Lotensin HCT(R) (Benazepril Hydrochloride and Hydrocholorthiazide Tablets, 5 mg/6.25 mg, 10 mg/12.5 mg, 20 mg/12.5 mg, and 20 mg/25 mg). According to Novartis, which sells these brands, these products had 2003 sales of $335 million and $81 million, respectively. Andrx has already commenced shipping its generic versions of Lotensin and Lotensin HCT.
About Andrx Corporation
Andrx Corporation develops and commercializes: bioequivalent versions of controlled-release brand name pharmaceuticals, using its proprietary drug delivery technologies; bioequivalent versions of specialty, niche and immediate-release pharmaceutical products, including oral contraceptives; and brand name or proprietary controlled-release formulations of existing immediate-release or controlled-release drugs where it believes the application of Andrx's drug delivery technologies may improve the efficacy or other characteristics of those products. Andrx also has distribution operations, which purchase primarily generic pharmaceuticals manufactured by third parties and sell them primarily to independent pharmacies, pharmacy chains, pharmacy buying groups and, to a lesser extent, physicians' offices.
Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements contained herein or which are otherwise made by or on behalf of the Company that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "to," "plan," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," or "continue" or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including but not limited to, the Company's dependence on a relatively small number of products, licensing revenues, the timing and outcome of litigation, the commercial success of product launches, including its generic Lotensin and generic Lotensin HCT, government regulation, competition, and manufacturing results. Andrx Corporation is also subject to other risks detailed herein or detailed from time to time in its filings with the U.S. Securities and Exchange Commission. Andrx disclaims any responsibility to update the statements contained herein.
This release and additional information about Andrx Corporation are also available on the Internet at: http://www.andrx.com.
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