November 13, 1996 |
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.
November 12, 1996 |
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.
October 19, 1995 |
Two very different drug companies from separate parts of the globe agreed to merge Wednesday, hoping their diverse businesses will help profit growth in an era of heavy competition. The stock swap deal would unite Miami-based Ivax Corp., the biggest seller of low-cost generic drugs, and Hafslund Nycomed of Oslo.
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.
June 3, 1994
The former chairman of an Irvine medical products company filed a lawsuit Thursday in federal court against the Miami company that acquired it, accusing that company and its chairman of securities fraud, lawyers said. James M. Sweeney alleges in the lawsuit, filed in U.S. District Court in Santa Ana, that IVAX Corp. and Chairman Phillip Frost misrepresented their company's financial condition before it acquired McGaw, a maker of intravenous products, last March.
March 29, 1994
Ivax Corp., a Miami company that makes chemical and generic drugs, has completed its acquisition of McGaw Inc. in a stock swap valued at about $440 million, the companies said Monday. McGaw shareholders will receive $16 worth of Ivax stock for each McGaw share. About half a share of Ivax common stock will be exchanged for each of McGaw's 27.4 million shares. Shares of McGaw, an Irvine-based intravenous-solution maker, stopped trading Friday. Ivax stock closed Monday at $27.375, down $1.