Andrx Issues Further Guidance on Fourth Quarter 2001.

Business Editors & Health/Medical Writers

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Jan. 8, 2002

ANDRX CORPORATION - Andrx Group (Nasdaq:ADRX) today elaborated on the earnings guidance it previously issued both in its October 25, 2001 press release and in its Form 10-Q for the quarter ended September 30, 2001. In those disclosures, Andrx advised that, should the launch of its generic versions of Tiazac(R), Glucophage(R), Prilosec(R) and Naprelan(R) continue to be delayed, Andrx anticipated that future earnings would be lower than its 2001 third quarter's financial results. The reasons Andrx cited were an anticipated decrease in net sales of its albuterol metered dose inhaler due to an increasingly competitive environment for that product, the elimination of $3 million in quarterly revenues as a result of the termination of the Geneva agreement, anticipated increases in R&D as well as increases in SG&A relating to growth in its brand business and increased legal expenses primarily relating to the Company's Prilosec trial, which is now underway in New York. Based on preliminary unaudited results, net sales of the Company's albuterol metered dose inhaler product decreased from approximately $22 million in the third quarter to approximately $7 million in the fourth quarter. For these reasons, fourth quarter 2001 earnings will be significantly lower than the $0.35 per fully diluted share reported for the third quarter of 2001.

Elliot F. Hahn, Ph.D., Andrx's President and Chief Executive Officer, commented: "While we regret that we were unable to launch our generic versions of Tiazac, Glucophage, Prilosec and Naprelan in the fourth quarter, we are heartened by the new legislation which may make a 2002 first quarter launch of generic Glucophage a reality. Likewise, we are encouraged by the progress in our Prilosec trial and by many other 2001 occurrences which confirm that continuing the support of our long-range plans will best position Andrx to become a premier generic company with a nationally prominent brand business."

Andrx anticipates announcing fourth quarter and full year 2001 results before the end of February 2002.

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.

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 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," "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 detailed in the Company's filings with the Securities and Exchange Commission.

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