In Brief: Andrx

Executive Summary

Andrx: Controlled-release oral drug developer files for initial public offering with the Securities & Exchange Commission of 1.7 mil. shares of common stock at a price estimated between $11 and $13 a share. Oppenheimer and Gruntal are managing underwriters for the IPO. Proceeds will be used primarily for the establishment of a commercial-scale manufacturing facility for Fort Lauderdale-based Andrx' generic versions of Cardizem CD and Dilacor XR. ANDAs for the products are on file with FDA...