Acquisition

     
BW20030527002079  20030528T060010Z UTC


( BW)(IVAX-CORPORATION)(IVX) Acquisition

    Business Editors
    UK REGULATORY NEWS

    LONDON--(BUSINESS WIRE)--May 28, 2003--

         IVAX To Acquire Inhalation Delivery Systems Company

IVAX Corporation (AMEX:IVX)(LSE:IVX.L) has agreed to acquire Advanced
Tobacco Products, Inc.(ATP), an inhalation technology company.

ATP's patented nicotine impermeable copolymer technology is used in
the Nicotrol/Nicorette inhaler, marketed for smoking cessation by
Pharmacia Corporation (now Pfizer, Inc.). ATP receives payments on the
sales of those products. ATP also has an exclusive license to new dry
powder inhaler applications from Duke University and has obtained
several patents covering this technology.

This transaction has been approved by both companies' boards of
directors and is subject to approval by the shareholders of ATP.

IVAX Corporation, headquartered in Miami, Florida, discovers,
develops, manufactures and markets branded and brand equivalent
(generic) pharmaceuticals and veterinary products in the U.S. and
internationally.

Copies of this and other news releases may be obtained free of charge
from IVAX' website at http://www.ivax.com.

   Short Name: IVAX Corporation
   Category Code: ACQ
   Sequence Number: 00005171
   Time of Receipt (offset from UTC): 20030527T182409+0100

    --30--tav/ny*

    CONTACT: IVAX Corporation, Miami
             David Malina, 305/575-6043

    KEYWORD: FLORIDA UNITED KINGDOM INTERNATIONAL EUROPE
    INDUSTRY KEYWORD: MEDICAL PHARMACEUTICAL MERGERS/ACQ
    SOURCE: IVAX Corporation

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