FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Nov. 11, 2005--Andrx
Corporation (Nasdaq: ADRX) ("Andrx" or "Company") announced today that
the U.S. District Court for the District of Northern Illinois granted
Abbott Laboratories' motion for a preliminary injunction related to
Andrx's generic Clarithromycin Extended Release Tablets pending a
trial on the merits. The Company is evaluating the court's decision
and will determine its course of action.
Andrx's Clarithromycin Extended Release Tablets are the AB-rated
generic equivalent of Abbott's macrolide antibiotic Biaxin(R) XL
Filmtab(R).
About Andrx Corporation
We are a pharmaceutical company that:
- develops, manufactures and commercializes generic versions of
controlled-release, niche and immediate-release pharmaceutical
products, including oral contraceptives;
- distributes pharmaceutical products, primarily generics, which
have been commercialized by others, as well as our own,
primarily to independent pharmacies, pharmacy chains and
physicians' offices; and
- develops and manufactures pharmaceutical products for other
pharmaceutical companies, including combination products and
controlled-release formulations utilizing our patented
technologies and formulation capabilities.
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 Andrx 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,"
"should," "would," "estimate," or "continue" or the negative or 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, what sanctions, if any, FDA may seek following its
decision to place us in OAI status, including without limitation
sanctions relating to any failure to comply with cGMP requirements and
if and when the "hold" on our ANDA approvals will be lifted; business
interruption due to hurricanes or other events outside of our control;
our dependence on a relatively small number of products; licensing
revenues; the timing and scope of patents issued to our competitors;
the timing and outcome of patent, antitrust and other litigation and
future product launches; whether we will be awarded any marketing
exclusivity period and, if so, the precise dates thereof; whether
additional pre-launch inventory write-offs will be required;
government regulation generally; competition; manufacturing
capacities, safety issues, output and quality processes; our ability
to develop and successfully commercialize new products; the loss of
revenues from existing products; development and marketing expenses
that may not result in commercially successful products; our inability
to obtain, or the high cost of obtaining, licenses for third party
technologies; our ability to meet the supply and manufacturing
requirements of the First Horizon agreement; the consolidation or loss
of customers; our relationship with our suppliers; the success of our
joint ventures; difficulties in integrating, and potentially
significant charges associated with, acquisitions of technologies,
products and businesses; our inability to obtain sufficient supplies
and/or active pharmaceuticals from key suppliers; the impact of sales
allowances; product liability claims; rising costs and limited
availability of product liability and other insurance; recent
management changes and the potential loss of senior management and
other key personnel; failure to comply with environmental laws; the
absence of certainty regarding the receipt of required regulatory
approvals or the timing or terms of such approvals; our ability to
commercialize all of our pre-launch inventory. Actual results may
differ materially from those projected in a forward-looking statement.
We are also subject to other risks detailed herein or detailed from
time to time in our 2004 10-K or in our other SEC filings. Subsequent
written and oral forward-looking statements attributable to us or to
persons acting on our behalf are expressly qualified in their entirety
by the cautionary statements set forth in our 2004 10-K and in our
other SEC filings.
This release and additional information about Andrx Corporation is
also available on the Internet at: http://www.andrx.com.
CONTACT: Andrx Corporation, Fort Lauderdale
Allison Tomek, 954-382-7696
Allison.tomek@andrx.com
SOURCE: Andrx Corporation
