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Andrx to receive $10 mil. quarterly from Hoechst to defer generic Cardizem CD marketing.

Executive Summary

ANDRX/HMR GENERIC CARDIZEM CD AGREEMENT WOULD RESULT IN $10 MIL. QUARTERLY payments to generic firm in exchange for Andrx' commitment to defer marketing of its generic sustained-release diltiazem until final resolution of its patent infringement suit with Hoechst Marion Roussel. FDA gave the generic "tentative approval" on Sept. 15 ("The Pink Sheet" Sept. 22, T&G-7).

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