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Biotech / Medical : ANDRX (ADRX) -- Ignore unavailable to you. Want to Upgrade?

To: Junkyardawg who wrote (91)	6/4/1998 9:44:00 AM
From: Emec	Read Replies (1) \| Respond to of 127

Thursday June 4, 9:23 am Eastern Time Company Press Release SOURCE: Andrx Corporation Andrx Blasts Medix Press Release FORT LAUDERDALE, Fla., June 4 /PRNewswire/ -- Andrx Corporation (Nasdaq: ADRX - news) today responded to the announcement by Medix Resources, Inc. (Medix) and its subsidiary Cymedix Lynx Corporation (Cymedix) that they have filed lawsuits against Andrx, its wholly owned subsidiary, CyBear Inc., and certain officers of those companies, alleging unlawful appropriation and theft of Medix computer medical software and its improper use in the development of Andrx' CyBear, Inc. healthcare software. Andrx and CyBear previously sued Medix and Cymedix for similar false and defamatory statements which they made in a March 18, 1998 press release. As Medix has filed a motion to dismiss that action, claiming that the press release was part of their litigation -- and thus ''privileged'' (i.e., immune from Andrx' lawsuit) -- the filing of Medix' lawsuit was their anticipated next move. Dr. Elliot Hahn, Andrx President, blasted Medix saying, ''For Medix to embark on a fishing expedition, with Andrx as its meal ticket, is unconscionable. Were we in the entertainment business, this kind of nonsense might be a bit less infuriating. But we are a pharmaceutical company trying to improve, and sometimes save, people's lives.'' Scott Lodin, Andrx' Vice President and General Counsel, amplified Hahn's point. ''Medix claims that 'The evidence against Andrx is striking and has been independently verified.' As Medix has been unable to tell us what it is we stole -- which has been our only condition to holding discussions with them -- we can only assume that this striking evidence is being safe-guarded by Jimmy Hoffa in Al Capone's secret vault.'' Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. SOURCE: Andrx Corporation -------------------------------------------------------------------------------- More Quotes and News: Andrx Corp (Nasdaq:ADRX - news) Related News Categories: biotech, medical/pharmaceutical