Andrx to Acquire Armstrong Pharmaceuticals From Medeva.

Business Editors & Medical Writers

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Feb. 12, 2001

ANDRX CORPORATION--Andrx Group (Nasdaq:ADRX) today announced that it has entered into a definitive agreement with Medeva Pharmaceuticals Manufacturing, Inc. ("Medeva") to acquire substantially all of the assets of Armstrong Pharmaceuticals, a Medeva division based in West Roxbury, Massachusetts which manufactures pharmaceutical aerosols, principally metered dose inhalers ("MDIs") and holds an ANDA for Albuterol MDI. The acquisition is for $18 million cash, subject to various closing adjustments and closing conditions, and is expected to have a neutral to modestly accretive effect on Andrx' future financial results. The acquisition will be accounted for using the purchase method of accounting, and Andrx anticipates that the closing will occur within 45 days.

"Andrx has various intranasal and inhalation products under development and we view this acquisition as both an opportunity to provide the manufacturing capability necessary to bring these products to market and to increase our current product offering with the addition of Albuterol MDI," said Alan P. Cohen, Andrx' Chief Executive Officer and Co-Chairman.

Andrx is engaged in the formulation and commercialization of oral controlled-release pharmaceuticals utilizing its proprietary drug delivery technologies. In its ANDA program, Andrx is developing generic versions of selected high sales volume controlled-release brand name pharmaceuticals. In its NDA program, Andrx is developing its own brand name formulations of certain existing drugs that it believes may be improved by the application of Andrx Corporation's drug delivery technologies. Andrx also markets and distributes pharmaceutical products manufactured by third parties. Andrx Corporation's Cybear Group (Nasdaq:CYBA) intends to use 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.

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 are intended to identify forward-looking statements. Investors are cautioned that all forward-looking statements involve risk and uncertainties. Andrx Group is a class of common stock of Andrx Corporation, therefore Andrx Corporation shareholders are subject to the risks and uncertainties described in Andrx Corporation's filings with the Securities and Exchange Commission, including Andrx Corporation's Annual Report on Form 10-K for the year ended December 31, 1999.