First Trade Date for Andrx Group
|Company Name||First Trade Date (yyyy-mm-dd)|
|History and Business of Company|
(this information may include date of incorporation)
Andrx Group (ADRX) formulates and commercializes controlled- release oral pharmaceuticals using its proprietary drug delivery technologies. On Sept. 7, 2000, Andrx Corp. completed a reorganization whereby it acquired the outstanding equity of its Cybear Inc. subsidiary that it did not own, reincorporated in Delaware, and created two new classes of Common stock: Andrx Common stock, to track the performance of the Andrx Group which includes Andrx Corp. and subsidiaries, other than Cybear Inc.; and Cybear Common stock, to track the performance of the Cybear Group, which includes Cybear Inc., and its subsidiaries.|
ADRX markets and sells Cartia XT and Diltia XT, its generic or bioequivalent versions of Cardizem CD and Dilacor XR. Cardizem CD is used for the treatment of hypertension and chronic stable angina. Dilacor XR is used for the treatment of hypertension and chronic stable angina.
ADRX has nine proprietary drug delivery technologies that it patented for certain applications or for which it has filed for patent protection for certain applications. The company uses its proprietary drug delivery technologies and formulation skills to develop: bioequivalent versions of selected controlled-release brand name pharmaceuticals; and brand name controlled-release formulations of existing immediate-release or controlled-release drugs where it believes that the application of ADRX's drug delivery technologies may improve the efficacy or other characteristics of those products.
The company is also developing bioequivalent versions of specialty or niche pharmaceutical products. Through its distribution operations, ADRX primarily sells bioequivalent drugs manufactured by third parties primarily to independent pharmacies, pharmacy chains which do not maintain their own central warehousing facilities, pharmacy buying groups and physicians' offices. These operations are also used for the marketing of ADRX's and its collaborative partners' products.
ADRX's product, Avicor, is an extended-release tablet form of lovastatin using one of the company's patented drug delivery technologies to treat elevated cholesterol or hypercholesterolemia.
On Mar. 30, 2001, the company acquired for about $18 million, substantially all of the assets of Armstrong Pharmaceuticals, a division of Celltech Pharmaceuticals Manufacturing, Inc., based in West Roxbury, MA. Armstrong manufactures pharmaceutical aerosols, principally metered dose inhalers.
INCORPORATED in Delaware in September 2000 to effect the reincorporation of a company of the same name originally incorporated in Florida Aug. 28, 1992 as Andrx Pharmaceuticals, Inc. Name was changed to Andrx Corp. in November 1992. September 7, 2000, Andrx Corp. completed a reorganization whereby it acquired the outstanding equity of its Cybear Inc. subsidiary that it did not previously own and created two new classes of Common stock: (i) Andrx Group Common to track the performance of the Andrx Group, which included Andrx Corp. and subsidiaries, other than its ownership of Cybear Inc., its subsidiaries and certain potential future Internet businesses of Andrx Corp. and (ii) Cybear Group Common to track the performance of the Cybear Group, which included Cybear Inc., its subsidiaries and certain potential future Internet businesses of Andrx Corp. In connection with the reorganization, Andrx Corp. stockholders exchanged each share of Common stock (pre-reorganization) held for one share of Andrx Group Common and 0.1489 of a share of Cybear Group Common, and Cybear Inc. stockholders, other than Andrx Corp., exchanged each share of Cybear Common stock (pre-reorganization) held for one share of Cybear Group Common. OFFICE- 4955 Orange Drive, Davie, FL, USA 33314 (Tel.: 954-584-0300). Fax - 954-587-0395. WEBSITE- http://www.andrx.com.
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