Action Announced by Massachusetts Attorney General Against 13 Generic Companies - IVAX Confident of Victory

    IVAX Corporation

In response to an announcement by the Attorney General of the
Commonwealth of Massachusetts of its intention to file a complaint
against 13 leading manufacturers of generic drugs, IVAX Corporation
(AMEX:IVX) (LSE:IVX.L) said that the allegations are specious and that
IVAX is confident it will prevail in the litigation.
   
IVAX' U.S. generic subsidiary has a system for monitoring
compliance with the regulations that are the subject of the announced
action and it is confident that it is in compliance with those
regulations. IVAX resents the allegations in the announced action and
is confident of victory.
   
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.

Except for the historical matters contained herein, statements in
this press release are forward-looking and are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Investors are cautioned that forward-looking statements,
including the statements regarding IVAX' confidence in the success
against the alleged claim and compliance with regulations, involve
risks and uncertainties which may affect IVAX' business and prospects.
Such risks and uncertainties include the difficulty in predicting the
timing and outcome of legal proceedings, compliance with extensive,
costly, complex and evolving governmental regulations and restrictions
and other factors discussed in IVAX' Annual Report on Form 10-K and
its other filings with the Securities and Exchange Commission.