Andrx Adds John Hanson as Corporate Vice President of Finance.Business Editors/Health/Medical Writers FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--April 7, 2003 Andrx Corporation (Nasdaq:ADRX ADRX Andrx Corporation (stock symbol) ) today announced that John M. Hanson has become its Vice President of Finance, a new position that will report to Angelo C. Malahias, Andrx's Senior Vice President and Chief Financial Officer. Mr. Hanson is a certified public accountant Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. whose career in accounting and finance spans almost twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. , including assignments as the Chief Financial Officer of Mylan Laboratories and Zenith Goldline, a subsidiary of IVAX Corporation, and over ten years in public accounting. Mr. Hanson will be responsible for Andrx's accounting policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental , internal controls, and long-term strategic financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against . Mr. Malahias stated: "I am very pleased to welcome John to the Andrx team. He is a seasoned financial professional who can provide the Company with additional analysis and oversight to financial matters and accounting controls." Prior to his positions at IVAX IVAX Industrial Vax (Dec Computer) , Mr. Hanson worked at Arthur Andersen where he led engagement teams in a variety of auditing services. He has a Masters in Professional Accountancy and a B.S. in biology from the University of South Dakota Nomenclature
About Andrx Andrx Corporation develops and commercializes: bioequivalent bi·o·e·quiv·a·lent n. A value indicating the rate at which a substance enters the bloodstream and becomes available to the body. 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 Oral Contraceptives Definition Oral contraceptives are medicines taken by mouth to help prevent pregnancy. They are also known as the Pill, OCs, or birth control pills. ; 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 which do not maintain their own central warehousing facilities, pharmacy buying groups and, to a lesser extent, physicians' offices. These distribution operations utilize telemarketing sales representatives, and are also used for the marketing of Andrx's and its collaborative partners' bioequivalent products. This release and additional information about Andrx Corporation are also available on the Internet at: http://www.andrx.com. 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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. For this purpose, any statements contained in this report 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," "expect," "plan," "believe," "anticipate," "intend," "could," "would," "estimate," or "continue" or the negative or other variations thereof or comparable terminology is intended to identify forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including but not limited to, the Company's ability to retain executive management as described herein as well as Andrx's results of operations. The Company is also subject to other risks as detailed from time-to-time in the Company's filings with the Securities and Exchange Commission. |
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