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Article: South Florida Generic-Drug Maker Andrx Posts Loss; IVAX Reports Lower Profits.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- July 27, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By John Dorschner, The Miami Herald Knight Ridder/Tribune Business News
Jul. 27--After quarterly reports announced Friday by South Florida's two large generic-drug manufacturers, Andrx of Davie was hammered by investors because of unexpected losses, while IVAX of Miami managed to hold its own despite decreased earnings.
Andrx reported a loss of $28.7 million, or 37 cents per share, for the second quarter, compared to a profit of $15.7 million, or 34 cents a share for the same period last year. Analysts had anticipated a loss of 7 cents a share.
Andrx revenue increased slightly, from $180.8 million for the second quarter of 2001 to $182.2 ...