Andrx Completes Divestiture of Fortamet, Altoprev to First Horizon
Andrx Corporation announced that it has completed
its previously announced sale and licensing of certain rights and assets related
to its Fortamet and Altoprev brand pharmaceutical products to First Horizon
Pharmaceutical Corporation (First Horizon). Andrx received $50 million for Fortamet
at the closing. Andrx is entitled to receive up to $35 million in additional
proceeds for Altoprev, once it achieves certain defined manufacturing service
levels for this product set forth in the agreement.