IVAX Corporation

From Powerbase
Revision as of 13:33, 4 June 2008 by Lynn Hill (talk | contribs)
Jump to: navigation, search

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