Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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

To: Chris Clark who wrote (715)	10/23/1998 2:51:00 PM
From: MskiHntr	Read Replies (1) \| Respond to of 756

* * * * TO ALL IVX BEFORE ANALYSTS * * * Symbol(s) IVX & Date Use Page Up, Page Down, +, -, or press Ù -------------------------------------------------------------------------------- 10/23 2:25P (DJ) =Ivax Poised For A Turnaround, Says CEO, Analysts >IVX Story 3722 (IVX, I/DRG, N/DJN, N/DJWI, N/DJS, N/ERP, N/CAC, N/EST, N/HIY...) By Kate Berry MIAMI (Dow Jones)--Ivax Corp. (IVX), a generic drug maker that was once a darling of Wall Street, is poised for a turnaround after two years of losses. "The business has turned around," Ivax's Chairman and Chief Executive Phillip Frost said in an interview. "Things are going well, a lot of hard work has been going on in the past few years." The most telling indication that Ivax is on the rebound comes from expectations that the company will post a profit in the third quarter, giving it back-to-back quarters of positive earnings, and an expected profit for 1998. This small string of triumphs follows eight consecutive quarters of losses as Ivax struggled during a downturn in the generic drug business. "The company has been on the rebound for almost six months now," said Hemant K. Shah, an independent pharmaceutival analyst based in Warren, N.J. "If Ivax fixes its existing business, it could provide enormous momentum" going forward. A consensus of three analysts tracked by First Call Corp. expects Ivax to earn 2 cents a share in the third quarter, compared with a loss from continuing operations of 65 cents a share a year ago, which included a 4-cent-a-share restructuring charge. The third-quarter profit was expected to be higher by three pennies, but Symbol(s) IVX & Date Use Page Up, Page Down, +, -, or press Ù -------------------------------------------------------------------------------- 10/23 2:25P (DJ) =Ivax Poised For A Turnaround, Says CEO, Analysts >IVX continuing operations of 65 cents a share a year ago, which included a 4-cent-a-share restructuring charge. The third-quarter profit was expected to be higher by three pennies, but estimates were trimmed when Ivax said it would take a $12.8 million pre-tax charge in the third quarter for costs to restructure its British drug subsidiary, Norton Healthcare Limited. Frost said the cost-cutting will generate $12 million in pre-tax profits. "The third quarter is coming along very nicely," said Frost, who backed analysts' estimates for the third quarter, fourth-quarter and year. Ivax is expected to earn eight cents a share in the fourth quarter and 10 cents a share for the year, according to First Call estimates. (MORE) DOW JONES NEWS 10-23-98 02:25 PM Best, Joe