Andrx Announces Results of Annual Stockholders' Meeting and Other Matters.

Business Editors/Health/Medical Writers

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--June 7, 2004

Andrx Corporation ("Andrx" or the "Company") (Nasdaq:ADRX) today announced the results of its 2004 annual meeting of stockholders. At today's meeting, stockholders re-elected Lawrence J. DuBow, Dr. Elliot F. Hahn and Thomas P. Rice to serve as directors until the 2007 annual meeting; approved as Amended and Restated Certificate of Incorporation, which increased the authorized shares of Andrx Group common stock from 100,000,000 to 200,000,000 shares and eliminated provisions related to Andrx Corporation -- Cybear Group common stock; and ratified the appointment of Ernst & Young LLP as the Company's independent auditors for the fiscal year ending December 31, 2004.

Andrx also announced that it plans to delay the construction of its North Carolina commercial manufacturing facility, and will instead continue to expand its Florida manufacturing facilities. The Company believes it is more expedient to expand its Florida facilities and create near-term capacity for the products it is currently marketing, at FDA, and under development.

The Company also announced that the FDA has awarded a three-year exclusivity period to Fortamet(TM), Andrx's recently approved 500mg and 1,000mg extended-release metformin tablets. Fortamet, used in the treatment of type 2 diabetes, suppresses hepatic glucose production and improves peripheral insulin sensitivity. Andrx launched Fortamet, its second internally developed brand product, into the marketplace in May.

About Andrx Corporation

Andrx Corporation is a pharmaceutical company that: develops and commercializes generic versions of controlled-release brand name pharmaceuticals, using the Company's proprietary controlled-release drug delivery technologies, and generic versions of niche and immediate-release pharmaceutical products, including oral contraceptives; distributes pharmaceuticals, primarily generics, manufactured by others as well as manufactured by the Company, primarily to independent pharmacies, pharmacy chains, pharmacy buying groups and physicians' offices; and commercializes brand pharmaceuticals, in some instances using the Company's proprietary controlled-release drug delivery technologies.

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 of 1995. For this purpose, any statements contained herein or which are otherwise made by or on behalf of the Company 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," " plan," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," or "continue" or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including but not limited to, the Company's dependence on a relatively small number of products; licensing revenues; the timing and outcome of patent, antitrust and other litigation; the timing and commercial success of product launches; whether the Company will be awarded any market exclusivity period and, if so, the precise dates thereof; government regulation generally; competition; manufacturing capacities, output and quality processes; the Company's ability to develop and successfully commercialize new products; the loss of revenues from existing products; development and marketing expenses that may not result in commercially successful products; the Company's inability to obtain, or the high cost of obtaining, licenses for third party technologies; commercial obstacles to the successful introduction of brand products generally; the success of the Company's joint ventures; the impact of returns, allowances and chargebacks; product liability claims; and the absence of certainty regarding the receipt of required regulatory approvals or the timing or terms of such approvals. Andrx Corporation is also subject to other risks detailed herein or detailed from time to time in its filings with the U.S. Securities and Exchange Commission. Andrx disclaims any responsibility to update the statements contained herein.

This release and additional information about Andrx Corporation is also available on the Internet at: http://www.andrx.com.