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ANDRX RAISES $4 MILLION

 FORT LAUDERDALE, Fla., Jan. 17 /PRNewswire/ -- Andrx Corporation, a pharmaceutical company, today announced that it has raised net proceeds of approximately $4 million through a private placement of common stock and warrants. Gruntal and Co., Incorporated acted as placement agent for the offering.
 Elliot F. Hahn, Ph.D., the President of Andrx stated, "We are pleased by the success of the financing which will provide funds to enable us to advance our programs to develop controlled-release generic and brand name pharmaceuticals."
 Andrx is involved in several areas of the pharmaceutical industry including the distribution of generic pharmaceuticals, the development of controlled-release generic drugs and the development of proprietary controlled-release and other products.
 -0- 1/17/94
 /CONTACT: Elliot F. Hahn, Ph.D., President, or Udo Henseler, Ph.D., Senior Vice-President Finance and CFO, of Andrx Corp., 305-584-0300, or fax 305-587-0395/


CO: Andrx Corporation ST: Florida IN: MTC SU:

DP-RK -- FL003 -- 1310 01/17/94 12:07 EST
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Publication:PR Newswire
Date:Jan 17, 1994
Words:157
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