IVAX Diagnostics Board Authorizes Share Repurchase
biz.yahoo.com
MIAMI, Mar 16, 2001 (BUSINESS WIRE) -- IVAX Diagnostics, Inc. (AMEX: IVD chart, msgs) announced that its Board of Directors has authorized the repurchase of up to 1.0 million shares of the company's outstanding publicly held common stock. When it began trading on the American Stock Exchange on March 15, IVAX Diagnostics had approximately 28.6 million shares outstanding, of which 8.6 million were publicly traded, and the remainder were held by IVAX Corporation (AMEX: IVX chart, msgs).
IVAX Diagnostics, Inc. develops, manufactures and markets proprietary diagnostic reagents, instrumentation and software through its subsidiaries located in the United States and Italy. Its products include Mago(R) instruments and related diagnostic kits, as well as autoimmune reagents and other in vitro diagnostic products for use in research, clinical, and hospital laboratories.
Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect the business and prospects of IVAX Diagnostics, Inc., including but not limited to the risk that IVAX Diagnostics, Inc. may not repurchase all or any of the shares authorized, and other risks and uncertainties that may cause results to differ materially from those set forth 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 Schedule 14A and other filings with the Securities and Exchange Commission.
Contact:
IVAX Diagnostics, Inc., Miami
Duane Steele, 305/324-2300
or
IVAX Corporation, Miami
Tabitha H. Licea, 305/575-6043 |
