IVAX DETERMINES NOT TO PROCEED WITH ACQUISITION OF THE SOLOPAK DIVISION OF SMITH & NEPHEW, INC.
IVAX DETERMINES NOT TO PROCEED WITH ACQUISITION OF THE SOLOPAK DIVISION OF SMITH & NEPHEW, INC. MIAMI, June 1 /PRNewswire/ -- IVAX Corporation (AMEX: IVX) announced today that IVAX has determined not to proceed with the proposed acquisition of the Solopak Division of Smith & Nephew, Inc. The acquisition agreement was terminated pursuant to its terms after conditions to the consummation of the acquisition were not satisfied. IVAX Corporation is a holding company with subsidiaries involved in specialty chemicals, pharmaceuticals and medical diagnostics. IVAX' principal subsidiaries include Baker Cummins Pharmaceuticals, Inc., a developer and marketer of unique brand name pharmaceuticals; Norton Healthcare Limited, a leading manufacturer and marketer of off-patent pharmaceuticals in the United Kingdom, Ireland and other countries; Goldline Laboratories, Inc., a national marketer of off-patent prescription and over the counter pharmaceuticals in the United States; Baker Cummins Dermatologicals, Inc., a dermatological products company; Willen Drug Company, a urological products company; DVM Pharmaceuticals Inc., a veterinary products company; Diamedix Corporation, a medical diagnostics company; Delta Biologicals S.r.l., a marketer of medical diagnostic tests and instruments in Italy; and IVAX Industries, Inc., a chemical specialties business. -0- 6/1/92 /CONTACT: Richard C. Pfenniger Jr., senior vice president of legal affairs of IVAX Corporation, 305-590-2309/ (IVX) CO: IVAX Corporation; Solopak; Smith & Nephew ST: Florida IN: MTC SU: TNM
JJ-AW -- FL002 -- 5512 06/01/92 08:58 EDT
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|Date:||Jun 1, 1992|
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