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Ivax Corp

BUSINESS
December 13, 1996 | Times Staff and Wire Reports
Bergen Brunswig Corp.'s proposed acquisition of Miami-based generic drug-maker Ivax Corp. has cleared the waiting period set by the Federal Trade Commission, the companies said Thursday. The deal, which has raised eyebrows among investors and analysts, still must be approved by shareholders. Some analysts have speculated that the Orange-based pharmaceutical distributor's $1.
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BUSINESS
December 4, 1996
Ivax Corp. Chairman Phillip Frost paid about $2.6 million for 200,000 shares of his company's stock in the days after Orange-based Bergen Brunswig Corp. announced plans to buy the Miami-based pharmaceutical company in a $1.41-billion transaction. The purchases are the latest in a buying spree that began during the summer. Frost now controls about 15.3 million shares of Ivax, or about 12.6% of its outstanding common stock. Frost bought the shares from Nov. 11 to Nov.
BUSINESS
November 27, 1996
Bergen Brunswig Corp. shares gained 6% amid speculation that its planned $1.4-billion purchase of Ivax Corp. may be altered or even collapse, analysts said. Bergen Brunswig shares gained $1.625 to $28 in heavy trading. A total of 1.05 million shares changed hands, more than the three-month daily average of 198,000. Ivax stock closed at $11, up 12.5 cents per share. Since the drug distributor announced its plan to buy generic drug-maker Ivax on Nov.
BUSINESS
November 13, 1996 | BARBARA MARSH, TIMES STAFF WRITER
Patents on a rainbow of branded drugs will expire in the next five years, promising a pot of profits for makers and marketers of generic drugs. The merger announced Monday between the generic-drug giant Ivax Corp. of Miami and the behemoth distributor Bergen Brunswig Corp. exemplifies steps being taken by companies throughout the industry to get ready to reap the rewards.
BUSINESS
November 12, 1996 | JAMES S. GRANELLI, TIMES STAFF WRITER
The planned merger of Bergen Brunswig Corp. and Ivax Corp. would be an unprecedented combination of a distributor and a generic-drug maker that promises to provide safe drugs at lower cost to consumers. But consumer groups say it's unclear whether that would happen. Other kinds of mergers, especially those between drug companies and managers of prescription benefits, haven't halted the soaring costs of drugs.
BUSINESS
November 12, 1996 | JOHN O'DELL, TIMES STAFF WRITER
The proposed merger of drug distributor Bergen Brunswig Corp. and pharmaceuticals maker Ivax Corp. brings together two industry giants with wildly divergent management styles--usually a recipe for conflict. Indeed, some analysts say that Ivax founder and chairman Phillip Frost's entrepreneurial style is so strong that he could overpower Bergen Brunswig Chairman Robert E. Martini once the two men assume co-chairmanship of the merged company, to be called BBI Healthcare Inc.
BUSINESS
November 12, 1996 | BARBARA MARSH, TIMES STAFF WRITER
Bergen Brunswig Corp., one of the nation's largest drug distributors, announced plans Monday to merge with Miami-based Ivax Corp., the largest maker of generic pharmaceuticals, in a $1.4-billion deal aimed at selling more lower-cost drugs to consumers. Ivax shareholders would own 56% of the new combined company, which will be called BBI Healthcare Corp. and be based in Miami.
BUSINESS
November 12, 1996 | BARBARA MARSH, TIMES STAFF WRITER
Orange-based Bergen Brunswig Corp., one of the nation's largest drug distributors, announced plans Monday to merge with Miami-based Ivax Corp., the largest maker of generic pharmaceuticals, in a $1.4-billion deal aimed at selling more lower-cost drugs to consumers. Ivax shareholders would own 56% of the new company, which would be called BBI Healthcare Corp. and be based in Miami.
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