Andrx CFO Abruptly Resigns

Earlier this month, the FDA put approval of the company's new drug applications on hold after the company failed an inspection.
Stephen TaubSeptember 22, 2005

Andrx Corp., a manufacturer of generic drugs, announced that chief financial officer John Hanson has resigned. Andrx gave no reason for his departure.

The Fort Lauderdale-based company added that president Angelo C. Malahias will assume the additional role of chief financial officer on an interim basis; Malahias served as finance chief from 1996 to 2004.

Hanson, an industry veteran who joined Andrx in April 2003 and became CFO in February 2004, has also held the top finance job at generic drug maker Mylan Laboratories Inc. and at Zenith-Goldline Pharmaceuticals, the U.S. generics subsidiary of Ivax Corp.

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This is Andrx’s second major executive resignation in a week. On September 16, it announced that Scott Lodin resigned as general counsel and secretary. He was succeeded by vice president and assistant general counsel Robert I. Goldfarb.

On September 6, Andrx disclosed that the Food and Drug Administration put approval of the company’s new drug applications on hold after the company had failed an FDA inspection of its facilities.