IVAX Corporation
The Ivax Corporation is a huge Florida-based health company. Norton Healthcare, the largest generic drugs company in Britain, is a subsidiary of IVAX. Isaac Kaye earned $550,301 at IVAX in 1998 (plus share options worth up to $1.5 million) and $521,520 in 1997.[1]. In 2006 IVAX was aquired by Teva which is described as 'Israel's largest company'.[2] The aquisition is reported to have created 'the world's largest generics company'.[3].
Kaye is reported to have stepped down as chairman of Norton Healthcare in 2003[4]. Plunkett's Health Care Industry Almanac reports IVAX profits totalling $243,200,000 for 2001, $131,000,000 for 2000 and $70,700,000 for 1999. Their sales totals were $1,215,400,000, $793,400,000, and $656,500,000 respectively.
In 2001, IVAX is reported to have 'achieved record earnings of $1.2bn'[5]
Contents
People
In 2003, the following people are reported as serving IVAX...
- Frank Condella - Managing Director in the UK [6]
- Dan Weiner - Senior Vice President for Global Clinical Development[7]
- Steve Marcus - Senior Vice President for Proprietary Pharmaceutical Business Development[8].
- Nick Vodar - Director of Drug Discovery and the Director of IVAx's Institute for Drug Research in Budapest, Hungary[9].
- Betty Amos - Board member. Amos is the owner and president of The Abkey Companies and a franchisee of Fuddruckers restaurants[10].
- Mitch Medique - Board member. Medique also serves on the board of several public companies (including National Semiconductor and Carnival Corporations)[11]. He is also a past chairman of The Beacon Council (Miami's economic development authority)[12]
- Burt Pitt. Pitt is also a professor of cardiology at the University of Michigan School of Medicine[13].
- Philip Frost - Board member[14]
- Neil Flanzraich - Board member[15]
- Jane Hsiao - Board member[16]
- Mark Andrews - Board member[17]
- Ernst Biekert- Board member[18]
- Jack Fishman- Board member[19]
- Richard Pfenniger Jr. - Board member [20]
- David Lieberman - Board member[21]
IVAX's Board of Directors in 2002 are reported as including[22]...
- Neil Flanzraich - Vice Chairman and President of IVAX Corporation
- Jane Hsiao - Vice Chairman of Technical Affairs and Chief Technical Officer of IVAX Corporation.
- Mark Andrews - President of Great Spirits Company.
- Ernst Biekert - Professor of Chemistry at the University of Heidelberg.
- Charles M Fernandez - President and Chief Executive Officer of Big City Radio.
- Jack Fishman - Director of Research at Strang Cancer Research Laboratory
- Richard C Pfenniger Jr. - Chief Executive Officer and Director of Whitman Education Group, Inc.
Aquisitions and Partnerships
In 2004, IVAX is reported to have aquired ChemSource Corporation (which is based in Puerto Rico)[23] .
ChemSource is reported to have 'recently entered into a license agreement with Novartis Pharma AG to utilize the patented multi-dose dry powder inhaler, Airmax, for Novartis's trademarked medicines Foradil and Miflonide in the European Union and certain other countries'[24].
In 2002, it is reported that IVAX 'established a company in France by acquiring Merck Sharp & Dohme's portfolio of generic products there[25].
Litigation
In July 2003, Business Wire reports that IVAX 'received the first of a series of payments from B Braun Melsungen AG, under a number of agreements, for certain patent and product rights and for settlement of litigation'[26]. No further details were disclosed.
In 2003, Thomas Beier, Senior Vice President and Chief Financial Officer for IVAX reported 'Operating expenses' which included a $6.6 million legal settlement[27]. No further details were disclosed.
Brands, Divisions and Affiliates
In 2004, Plunkett's Health Care Industry Almanac reports the following 'Brands/Divisions/Affiliates' of IVAX[28]...
- Airmax
- Easi-Breathe
- Paxene
- Paxoral
- TP-38
- ChemSource Corporation
- IVAX Pharmaceuticals Inc.
- Novartis Pharma AG
References
- ↑ Ref needed
- ↑ Teva, IVAX Acquisition, accessed 23 May 2008
- ↑ Maguire K (2002) Profile:Isaac Kaye The Guardian 13th April 2002. Accessed 4th April 2008
- ↑ Brogan, B. & Gysin, C. (2008) Hain faces sack in sleaze inquiry; He could be barred - but Brown might fire him first. The Daily Mail (London). 12th January 2008
- ↑ McGee, H. (2002) 'Alleged fraud firm linked to millionaire with Irish passport'. Sunday Tribune (Ireland). 14th April 2002
- ↑ Company News 'IVAX Corporation - Directorate Change'. 22nd April 2003
- ↑ FD (Fair Disclosure) Wire 'Q1 2003 Ivax Earnings Conference Call - Final'. 24th April 2003
- ↑ FD (Fair Disclosure) Wire 'Q1 2003 Ivax Earnings Conference Call - Final'. 24th April 2003
- ↑ FD (Fair Disclosure) Wire 'Q1 2003 Ivax Earnings Conference Call - Final'. 24th April 2003
- ↑ Company News 'IVAX Corporation - Directorate Change'. 22nd April 2003
- ↑ FD (Fair Disclosure) Wire 'Q1 2003 Ivax Earnings Conference Call - Final'. 24th April 2003
- ↑ Company News 'IVAX Corporation - Directorate Change'. 22nd April 2003
- ↑ FD (Fair Disclosure) Wire 'Q1 2003 Ivax Earnings Conference Call - Final'. 24th April 2003
- ↑ Company News 'IVAX Corporation - Directorate Change'. 22nd April 2003
- ↑ Company News 'IVAX Corporation - Directorate Change'. 22nd April 2003
- ↑ Company News 'IVAX Corporation - Directorate Change'. 22nd April 2003
- ↑ Company News 'IVAX Corporation - Directorate Change'. 22nd April 2003
- ↑ Company News 'IVAX Corporation - Directorate Change'. 22nd April 2003
- ↑ Company News 'IVAX Corporation - Directorate Change'. 22nd April 2003
- ↑ Company News 'IVAX Corporation - Directorate Change'. 22nd April 2003
- ↑ Company News 'IVAX Corporation - Directorate Change'. 22nd April 2003
- ↑ Business Wire 'IVAX Announces Results of 2002 Annual Shareholders' Meeting'. 27th June 2002
- ↑ Plunkett's Health Care Industry Almanac. 'IVAX Corporation.' January 2004
- ↑ Plunkett's Health Care Industry Almanac. 'IVAX Corporation.' January 2004
- ↑ FD (Fair Disclosure) Wire 'Q1 2003 Ivax Earnings Conference Call - Final'. 24th April 2003
- ↑ Business Wire 'IVAX Reports Increased Revenues and Net Income for 2nd Quarter of 2003; 2Q2003 Net Revenues Up 22% to $343 Million, Net Income Up 30% to $41.3 Million' 30th July 2003. Miami
- ↑ FD (Fair Disclosure) Wire 'Q1 2003 Ivax Earnings Conference Call - Final'. 24th April 2003
- ↑ Plunkett's Health Care Industry Almanac. 'IVAX Corporation.' January 2004
