Andrx and Cybear Announce Results of Stockholders Meetings.Business Editors FORT LAUDERDALE, Fla. & BOCA RATON, Fla.--(BUSINESS WIRE)-- Sept. 6, 2000 ANDRX CORPORATION (Nasdaq:ADRX ADRX Andrx Corporation (stock symbol) ) and its majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. CYBEAR, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (Nasdaq:CYBA CYBA Charter Yacht Broker Association CYBA Conejo Youth Basketball Association (Conejo Valley, California) CYBA California Yacht Brokers Association CYBA Cybertron Army CYBA Columbia Yacht Brokers Association ) today announced the results of the Andrx Annual Meeting of stockholders and the Cybear Special Meeting of stockholders. At the Andrx Annual Meeting, stockholders approved a reorganization whereby Andrx will acquire the outstanding shares of common stock of Cybear that it does not presently own, Andrx will be reincorporated in Delaware, and two new classes of common stock will be created - Cybear Group Common Stock, to track the performance of Cybear, and Andrx Group Common Stock, to track the performance of Andrx other than its ownership of Cybear. In connection with the reorganization, Andrx shareholders will exchange each share of Andrx common stock held for one share of Andrx Group Common Stock and .1489 shares of Cybear Group Common Stock. Andrx stockholders also approved the election of three directors to serve until 2003, the adoption of Andrx' Stock Option Plan and the ratification of the appointment of Andrx' auditors. At the Cybear Special Meeting, Cybear stockholders approved the exchange of their common stock (other than the shares presently owned by Andrx) for shares of Andrx' Cybear Group Common Stock. The reorganization will be effective at the opening of business on September 7, 2000. Andrx Group Common Stock and Cybear Group Common Stock will continue to trade under the respective symbols, ADRX and CYBA. Andrx is engaged in the formulation and commercialization of oral controlled-release pharmaceuticals utilizing its proprietary drug delivery technologies. In its ANDA ANDA abbr. abbreviated new drug application program, the Company is developing generic versions of selected high sales volume controlled-release brand name pharmaceuticals. In its 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 program, the Company is developing its own brand name formulations of certain existing drugs that it believes may be improved by the application of the Company's drug delivery technologies. The Company also markets and distributes pharmaceutical products manufactured by third parties. Cybear, Inc., is an information technology company using the Internet to improve the efficiency of administrative and communications tasks of managing patient care - while addressing the healthcare industry's critical need for secure and reliable transmission of information. An Internet Service Provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. ) and Application Services Provider (ASP) for the healthcare industry, Cybear uses its own secure private network to provide access to the Internet, email, and productivity applications available on a transaction or subscription basis to physicians, physician organizations, and hospitals. Some of its online applications include or will include business tools for hospital messaging, lab orders and results, streamlined purchasing, prescription writing, claims processing, eligibility verification, 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. compliance, credentialing, Web site creation, and physician-patient communications via the Internet. More information and subscriptions to dr.cybear and rx.cybear, the company's Internet products, are available online at www.cybear.com or by calling 877/999-3001. 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," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," or "continue" or the negative other variations thereof or comparable terminology are intended to indemnify forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Andrx and Cybear filings with the Securities and Exchange Commission. |
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