Andrx terminates revolver

By Sara Rosenberg

New York, Sept. 29 - Andrx Corp. is terminating its $185 million four-year secured revolving credit facility with Bank of America, effective Oct. 7, according to an 8-K filed with the Securities and Exchange Commission Thursday.

The company came to the decision to terminate the loan based on its levels of cash, cash equivalents and investments available-for-sale, which totaled $345.4 million as of June 30.

There has not been any money borrowed under the revolver since it was obtained in 2002.

Andrx is a Davie, Fla.-based generic pharmaceutical products company.

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