Andrx Receives FDA Approvable Letter for Fortamet.

Business Editors/Health & Medical Writers

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Oct. 23, 2003

Andrx Corporation (Nasdaq:ADRX) today announced that the United States Food and Drug Administration (FDA) has issued an approvable letter for Fortamet(TM) (metformin extended-release) tablets, 500mg and 1000mg, Andrx's second internally developed brand product. An approvable letter sets out the conditions that a company must meet in order to obtain FDA final marketing approval. Andrx believes it will address the requirements of the approvable letter before the end of the fourth quarter of 2003, and that it will receive FDA approval and otherwise be able to launch Fortamet in the first half of 2004.

Fortamet extended-release tablets employ Andrx's patented single-composition osmotic technology (SCOT(TM)). Andrx anticipates that its product will be specifically indicated for use as a once-a-day therapy to lower blood glucose.

About Andrx Corporation:

Andrx Corporation develops and commercializes: bioequivalent 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; 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.

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 litigation and future product launches, government regulation, including the timing of the satisfaction of conditions that the Company must meet in order to obtain FDA final marketing approval for Fortamet, competition, and manufacturing results. 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 are also available on the Internet at: http://www.andrx.com.