SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Biotech / Medical : IVX: IVAX Corporation
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Jim Oravetz who wrote (67)6/7/2005 12:39:30 PM
From: Jim Oravetz  Read Replies (1) of 78
 
UPDATE:Ivax's Generic Antibiotic Not Affected By Injunction
DOW JONES NEWSWIRES
June 6, 2005 5:08 p.m.

(Adds comment from Abbott spokeswoman in fourth paragraph.)

MIAMI -- Ivax Corp. (IVX) can continue selling its generic version of Abbott Laboratories Inc.'s (ABT) Biaxin because the preliminary injunction Abbott received Friday against Teva Pharmaceutical Industries Ltd. (TEVA) concerns extended-release versions of the antibiotic.

In a press release Monday, Ivax said the Illinois court decision won't affect the Food and Drug Administration's approval of Ivax's generic tablets in 250- and 500-milligram doses because these tablets aren't extended release versions of the antibiotic and have a separate patent.

The FDA approved Ivax's generic antibiotics Wednesday.

"We will evaluate Ivax's product once we have access to it to determine whether or not they infringe on our Biaxin patents," an Abbott spokeswoman said.

Ivax also said the court decision won't affect its outlook. In late April, the company expected its 2005 earnings per share would come in the middle to upper end of its 76 cents to 86 cents outlook. It also continued to anticipate 2006 earnings of $1.35 to $1.55.

Wall Street, on average, expected Ivax to earn 81 cents a share for 2005 and $1.37 a share next year. For 2004, the company earned 75 cents a share.

Company Web site: ivax.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News