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ANDRX
ENTERS INTO ALLIANCE FOR GENERIC LOVENOX WITH AMPHASTAR
FORT LAUDERDALE, FLORIDA, May 4, 2005 – Andrx Corporation (Nasdaq:
ADRX) (“Andrx” or the “Company”) announced today that
it has entered into an agreement to obtain certain exclusive marketing rights
for both strengths of Amphastar Pharmaceuticals, Inc.’s
(“Amphastar”) proposed generic version of Lovenox®, Aventis
Pharmaceuticals, Inc.’s (“Aventis”) enoxaparin sodium
injectable product. Amphastar submitted its Abbreviated New Drug Application
(“ANDA”) for generic Lovenox to the FDA in March 2003.
Amphastar’s product is the subject of a patent infringement lawsuit filed
by Aventis, and the 30-month stay imposed by law, which runs through
February 2006. Lovenox is indicated for the prevention of deep vein
thrombosis in certain patients undergoing abdominal surgery and knee or hip
replacement surgery, and for the prevention of certain cardiovascular events.
According to IMS Health data, Lovenox generated total 2004 U.S. sales of
approximately $1.5 billion.
Andrx’s marketing rights generally extend to the U.S. retail pharmacy market, representing approximately 30% of total Lovenox sales. To obtain such rights, Andrx paid $4.5 million upon execution of the agreement and will make an additional $5.5 million payment to Amphastar once certain milestones relating to the product are achieved, including obtaining
