IVAX Begins Sale Of Generic OxyContin As Authorized Distributor
MIAMI, June 8, 2005 -- IVAX Corporation (AMEX:IVX) (LSE:IVX.L) (WSE:IVX) announced today that its subsidiary, IVAX Pharmaceuticals, Inc., will distribute, in the United States, oxycodone HCl controlled release tablets C-II in 10, 20, 40 and 80 mg dosage strengths, supplied by Purdue Pharma L.P. of Stamford, Connecticut. Oxycodone HCl controlled release tablets C-II is the generic equivalent of OxyContin, a narcotic analgesic indicated for the management of moderate to severe pain for patients in need of a continuous round-the-clock analgesic for an extended period of time. According to IMS data, U.S. sales for OxyContin were approximately $2 billion for the twelve months ended March 31, 2005. Purdue Pharma will receive a share of profits from the sale of this product.
Posted: June 2005