Andrx Announces Florida Medicaid Approval for Altocor.Business Editors FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Nov. 22, 2002 Andrx Corporation (Nasdaq:ADRX ADRX Andrx Corporation (stock symbol) ) today announced that its first internally developed brand product, Altocor(TM), a cholesterol-lowering agent used in the prevention and treatment of cardiovascular disease Cardiovascular disease Disease that affects the heart and blood vessels. Mentioned in: Lipoproteins Test cardiovascular disease , has been approved for addition to the Florida Medicaid Preferred Drug List (PDL See page description language. 1. PDL - Page Description Language. 2. PDL - Program Design Language. 3. PDL - Push Down List. 4. PDL - Dave Lebling, one of the co-authors of Zork. ). Selected by the state of Florida's Pharmaceutical and Therapeutics Committee, the Florida PDL is a listing of prescription products recommended to be prescribed to Medicaid patients as a cost- effective choice. In Florida, Medicaid provides health coverage for approximately 1.9 million individuals. Commenting on the announcement, Richard J. Lane, Andrx's Chief Executive Officer, said, "This is a significant win for Altocor. Within 20 months of our NDA (Non Disclosure Agreement) An agreement signed between two parties that have to disclose confidential information to each other in order to do business. In general, the NDA states why the information is being divulged and stipulates that it cannot be used for any submission to the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. , we received approval for the primary and a secondary indication, launched Altocor and won inclusion in our first significant state formulary formulary /for·mu·lary/ (for´mu-lar?e) a collection of recipes, formulas, and prescriptions. National Formulary see under N. for·mu·lar·y n. . I am proud of the efforts of our product development and marketing teams, which made this a reality. We plan to continue to present the Altocor 'value story' to the remaining state formularies and managed care organizations. Its improved efficacy, value price, greater convenience, enhanced patient compliance and dosing flexibility all make Altocor a compelling story which should lead to many other wins for our product." About Florida Medicaid Medicaid is the state and federal partnership that provides health coverage for selected categories of people with low incomes. Its purpose is to improve the health of people who might otherwise go without medical care for themselves and their children. Medicaid is different in every state and is also different from Medicare. Medicare is a federal health insurance program for people who are age 65 or older or disabled. Medicaid provides medical services to indigent indigent 1) n. a person so poor and needy that he/she cannot provide the necessities of life (food, clothing, decent shelter) for himself/herself. 2) n. one without sufficient income to afford a lawyer for defense in a criminal case. people. In Florida, the Agency for Health Care Administration (AHCA AHCA Agency for Health Care Administration AHCA American Health Care Association AHCA American Hockey Coaches Association AHCA American Highland Cattle Association AHCA Australian Health Care Agreement AHCA Austin Healey Club of America ) develops and carries out policies related to the Medicaid program. About Andrx Andrx Corporation is a specialty pharmaceutical company engaged in the formulation and commercialization of oral controlled-release generic and brand pharmaceuticals utilizing its proprietary drug delivery technologies. Andrx also markets and distributes pharmaceutical products manufactured by third parties. 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 Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. 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 those risks and uncertainties, including but not limited to, the introduction and market acceptance of Altocor, including whether or not it is successfully added to state formularies and managed care preferred drug lists 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. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion