Post by miamianne67 on Mar 27, 2017 22:24:06 GMT
IVAX Comments On UK Industry-Wide Investigation
Source Press Release
Company IVAX
Tags General
Date April 10, 2002
Miami, FL -- April 10, 2002 -- IVAX Corporation (AMEX:IVX) (LSE:IVX.L) today received notice of an investigation by United Kingdom National Health Service officials concerning prices charged by generic drug companies, including IVAX UK Limited, for penicillin -based antibiotics and warfarin sold in the UK from 1996 to 2000. This is an investigation involving all pharmaceutical companies that sold these products in the UK during this period. According to statements by investigating agencies, this is a complex investigation expected to continue for some time.
IVAX is proud to have introduced many important brand-equivalent (generic) drugs that have reduced the cost of medical care to individual patients, governments and other healthcare providers around the world. It is IVAX ' policy to comply with the laws of all countries in which it operates. The company is cooperating fully with this investigation and believes its sales of these products have been in compliance with all applicable laws and regulations. Annual sales of these products represented less than 1% of IVAX Corporation's consolidated net revenues during the applicable period.
IVAX Corporation, headquartered in Miami, Florida, is engaged in the research, development, manufacturing, and marketing of branded and brand equivalent (generic) pharmaceuticals and veterinary products in the U.S. and international markets.
Copies of this and other news releases may be obtained free of charge from IVAX ' web site at ivax.com. Shareholders and prospective investors can register to automatically receive the company's press releases via email at ivax.com.
This press release contains certain forward-looking statements regarding product and business development efforts and other non-historical facts which are being are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that cannot be predicted or quantified and, consequentially, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the risks that these investigations could be expanded; that these investigations may uncover instances of noncompliance with applicable laws and regulations; and other risks and uncertainties that may cause results to differ materially from those set forth or implied in the forward-looking statements. In addition to the risk factors set forth above, investors should consider the economic, competitive, governmental, technological, and other factors discussed in the Company's Annual Report on form 10K and other filings with the Securities and Exchange Commission.