Andrx Completes Divestiture of Fortamet, Altoprev to First Horizon

March 29, 2005

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.
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