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Biotech / Medical : IVAX Insider Trading -- Ignore unavailable to you. Want to Upgrade?

To: Doug who wrote (255)	12/9/1997 4:38:00 PM
From: Roader	Respond to of 756

I don't think you missed anything but here it is in a nutshell. Ivax Insiders Confident, Optimistic About Stock Federal Filings via Dow Jones ISSUER: IVAX CORP. SYMBOL: IVX WASHINGTON (FFBN) -- Recent purchases by two insiders at Ivax Corp. signal that the officials have "confidence in the stock and optimistic about the company's future," according to Ivax spokesperson Robert Jaffe. As reported by Federal Filings Business News, company chief executive Dr. Philip Frost purchased 145,000 shares of the generic drug manufacturer's stock from Nov. 5 to Nov. 26 at prices ranging from $7 to $8.19 bringing his total ownership to over 15.5 million shares. Ivax's new president David R. Bethune also got into the act, snatching up 500 shares on Nov. 4 at $7.50 per share. Jaffee said that Ivax has nine applications pending with the U.S. Food and Drug Administration for generic drugs, as well as an original marketing submission for Paxene, a new drug that is similar to Bristol-Myers Squibb's widely-used cancer treatment Taxol. As reported by FFBN in mid-Sept, Paxene was recommended for approval by an FDA advisory panel as a second-line therapy in the treatment of AIDS-related Kaposi's sarcoma. Jaffee says that Ivax is awaiting word on its submission for Paxene. Jaffee also pointed out that Ivax has recently won FDA approval for a generic version of clozapine, an antipsychotic drug. The drug is designed for people who don't respond adequately to standard antipsychotic drugs and is the generic equivalent of Novartis Corp.'s (NVTSY) Clozaril. Analysts at Robert M. Cohen & Co. recently initiated coverage of Ivax with a "speculative buy" rating. The investment firm likes how the company has refocused itself to bring costs in line and formulate a new strategy. Robert M. Cohen set an 18-month share-price target of $15. /F