Summary
Andrx was created in Davie, Florida, in 1992. The company produces both generic and proprietary products, and is divided into three business segments: generics, brands and distribution. These segments comprise four business units; Andrx Pharmaceuticals, Andrx Laboratories, Anda, and VIP. Andrx Pharmaceuticals develops generic drugs through the company's proprietary drug delivery and formulation technologies. Andrx Pharmaceuticals' pipeline includes over 25 ANDAs in various stages of development. Andrx Laboratories produces brand-name controlled-release products. It uses Andrx Pharmaceuticals' drug delivery technology to enhance existing products, in manners such as less frequent dosing requirements, fewer side-effects, or improved patient compliance. Anda purchases products directly from manufacturers and wholesalers, and markets them through its own telemarketing operation. VIP - Value in Pharmaceuticals - is a generic pharmaceuticals distributor, supplying small and independent pharmacies across the United States and Puerto Rico.
In March 2006, Watson Pharmaceuticals announced it had entered into an agreement to acquire the outstanding stock of Andrx, in a deal worth some US$1.9 billion. The deal was approved by Andrx stockholders in June 2006 and was completed in November 2006.
Andrx received five ANDA approvals in 2005, for quinapril, metformin extended release tablets, and norethindrone acetate and ethinyloestradiol tablets. The company is currently negotiating with the FDA regarding cGMP compliance at its facilities in Florida.
Andrx employs around 2,100 members of staff, and has sites across the United States. In Florida, it has properties in Davie, Plantation and Weston; in New Jersey at Hackensack; in New York at Grand Island; and in Ohio at Columbus. Total revenues in fiscal 2005 fell by 9.1% to US$1,042 million. Sales of generic products fell by 16.2% to US$302.3 million.
This generics company reports will help you to understand the dynamic and complex issues affecting the business of leading generic industry players. These informative reports provide an insight into the company, covering the structure of the business, the most recent quarterly and annual financial results, information on the company's active product lines and ANDA approvals, along with a review of major developments, such as M&A activity, strategic alliances, and litigation.
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