Andrx "neutral"

09/01/05 - First Albany

NEW YORK, September 1 (newratings.com) - Analyst Adam Greene of First Albany maintains his "neutral" rating on Andrx Corporation (ADRX).

In a research note published this morning, the analyst mentions that the company's share price declined recently due to the approval of Sandoz's generic Biaxin XL drug. The market had expected Andrx’s Biaxin XL generic to have a monopoly of the market, the analyst says. According to First Albany, channel checks indicate that Sandoz is unlikely to launch its Biaxin XL generic before 4Q.