FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--June 10, 2004--Andrx Corporation (Nasdaq:ADRX - News) announced that, effective June 19, 2004, Andrx will begin marketing its cholesterol-lowering brand product Altocor (lovastatin extended-release tablets) under the name Altoprev(TM). Though product labeled Altocor may remain in the distribution channel (physicians' offices, pharmacies, warehouses, etc.) through August 15, 2004, all product and promotional materials bearing the Altocor name will be withdrawn from the distribution channel by that date. Altoprev labeled product is exactly the same as Altocor labeled product in all respects including ingredients, dosage form, strengths, appearance, manufacturer, price, etc.
This name change, previously announced by Andrx, results from FDA's desire to avoid confusion in the marketplace and the litigation initiated by Kos Pharmaceuticals, Inc. alleging that the Altocor name infringes a trademark of Kos. Andrx and Kos have now settled this litigation, with Andrx making a one-time $6 million payment to Kos.
Source: Andrx Corporation