August 16, 1997 |
Medical supplies distributor Bergen Brunswig Corp. said it has settled its lawsuit with onetime acquisition target Ivax Corp. Terms of the settlement have not been disclosed, and records in the lawsuit have been sealed by the court at the request of the two companies. Bergen, one of the nation's largest drug and surgical supply distributors, said in November that it would acquire generic-drug maker Ivax in a $1.6-billion stock swap.
March 31, 2001 |
Ivax Corp. faces a revived legal challenge to its generic version of the top-selling Taxol cancer drug, after a federal appeals court told a trial judge to reexamine the Food and Drug Administration's approval of the Ivax product. The ruling is the latest in a multifaceted legal fight involving Ivax, Taxol manufacturer Bristol-Myers Squibb Co. and American BioScience Inc., which says it has a patented method to reduce the drug's side effects. The U.S. Court of Appeals for the D.C.
June 7, 1994
Ivax Corp. denied allegations of securities fraud contained in a lawsuit brought by the former chairman of McGaw Inc. Ivax, a Miami maker of generic drugs, said Friday that the lawsuit, filed Thursday in U.S. District Court in Santa Ana by former McGaw Chairman James M. Sweeney, is without merit. Both the corporation and Chairman Phillip Frost were named as defendants. "We intend to defend the suit vigorously," Ivax's general counsel, Armando A. Tabernilla, said in a statement.
November 22, 2000 |
Generic drug maker Ivax Corp. said it has formed a definitive agreement to acquire Long Beach-based business-to-business company B2bstores.com for an undisclosed amount in a move to take its Ivax Diagnostics unit public. The Net operations of B2bstores.com, which laid off employees and slashed spending in August, would be discontinued. Ivax would gain B2bstores.com's assets.
January 15, 2002 |
Ivax Corp. said a U.S. District Court judge invalidated American BioScience Inc.'s patent claims on Ivax's generic version of Taxol, the latest in a long-running patent dispute over the cancer drug. Ivax last month asked the judge in Los Angeles to rule that a Taxol-related patent held by ABI was invalid because it didn't cover anything new. Ivax has accused the drug's original marketer, Bristol-Myers Squibb Co.
May 31, 1997 |
Troubled pharmaceutical concern Ivax Corp. plans to sell its Irvine-based McGaw unit for $320 million in cash, well below the $440 million it paid for the company three years ago. B. Braun of America Inc., the U.S. subsidiary of Germany's Braun Melsungen AG, will acquire McGaw, a major Orange County employer. Braun said it would pay up to $80 million more for the company over a period of years, depending on McGaw's financial performance.