IVAX Corporation

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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.

People

In 2003, the following people are reported as serving IVAX[5]...

  • Dan Weiner - Senior Vice President for Global Clinical Development
  • Steve Marcus - Senior Vice President for Proprietary Pharmaceutical Business Development.
  • Nick Vodar - Director of Drug Discovery and the Director of IVAx's Institute for Drug Research in Budapest, Hungary.
  • Betty Amos - Board member
  • Mitch Medique - Board member. Medique also serves on the board of several public companies (including National Semiconductor and Carnival Corporations).
  • Burt Pitt. Pitt is also a professor of cardiology at the University of Michigan School of Medicine.

Aquisitions and Partnerships

In 2004, IVAX is reported to have aquired ChemSource Corporation (which is based in Puerto Rico)[6] .

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'[7].

In 2002, it is reported that IVAX 'established a company in France by acquiring Merck Sharp & Dohme's portfolio of generic products there[8].

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'[9]. 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[10]. 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[11]...

References

  1. ↑ Ref needed
  2. ↑ Teva, IVAX Acquisition, accessed 23 May 2008
  3. ↑ Maguire K (2002) Profile:Isaac Kaye The Guardian 13th April 2002. Accessed 4th April 2008
  4. ↑ 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
  5. ↑ FD (Fair Disclosure) Wire 'Q1 2003 Ivax Earnings Conference Call - Final'. 24th April 2003
  6. ↑ Plunkett's Health Care Industry Almanac. 'IVAX Corporation.' January 2004
  7. ↑ Plunkett's Health Care Industry Almanac. 'IVAX Corporation.' January 2004
  8. ↑ FD (Fair Disclosure) Wire 'Q1 2003 Ivax Earnings Conference Call - Final'. 24th April 2003
  9. ↑ 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
  10. ↑ FD (Fair Disclosure) Wire 'Q1 2003 Ivax Earnings Conference Call - Final'. 24th April 2003
  11. ↑ Plunkett's Health Care Industry Almanac. 'IVAX Corporation.' January 2004
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