Andrx Sells Certain Internet Assets To Aventis' MyDocOnline Unit, Andrx's POL Unit Signs Internet Marketing Deal With Aventis.Business Editors & Health/Medical Writers FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BUSINESS WIRE)--Aug. 5, 2002 Andrx Corporation (Nasdaq:ADRX ADRX Andrx Corporation (stock symbol) ) today announced that Aventis' business unit, MyDocOnline, agreed to purchase Andrx's Dr. Chart and @Rx applications and license Andrx's patents for Internet transmission of prescriptions. Aventis also entered into a two-year marketing agreement with Andrx's Physicians' Online(TM) (POL) web portal See portal. . As part of these transactions, Andrx expects to receive approximately $6 million over the next two years. Dr. Chart is an application that allows for electronic transmission of lab results over the Internet, and @Rx is an electronic prescription writer. In connection with @Rx, Andrx granted Aventis a non-exclusive license to Andrx's U.S. patent numbers 5,737,539 and 5,845,255, related to the electronic transmission of prescriptions over the Internet. Commenting on these transactions, Richard J. Lane, Andrx's Chief Executive Officer, said: "We continue to see the value of Internet access See how to access the Internet. to physicians as an element for the marketing of branded pharmaceutical products and services. Today's announcement demonstrates a major international pharmaceutical company's belief in Internet access to physicians and the value that our POL offers. Our divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). of non-core Internet assets coupled with a marketing agreement with a major pharmaceutical player is yet another step in optimizing our Internet strategy and assets. In the interest of long term shareholder value, we will continue to evaluate our Internet assets and strategies within Andrx and its evolution toward a brand company, including evaluating additional Internet divestitures and alliances." 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. (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, no assurance can be given as to Andrx's success in continuing to divest To deprive or take away. Divest is usually used in reference to the relinquishment of authority, power, property, or title. If, for example, an individual is disinherited, he or she is divested of the right to inherit money. its Internet operations, and 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 detailed in the Company's filings with the Securities and Exchange Commission. |
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