IVAX Adds 21 Generic Drugs In 15 Countries

     
BW20030521002043  20030521T123930Z UTC


( BW)(IVAX-CORPORATION)(IVX) IVAX Adds 21 Generic Drugs In 15
Countries

    Business Editors
    UK REGULATORY NEWS

    MIAMI--(BUSINESS WIRE)--May 21, 2003--

IVAX Corporation (AMEX:IVX) (LSE:IVX.L) announced today that it has
entered into exclusive marketing authorization and supply agreements
for 21 generic products in 15 Central and Eastern European countries.
EIS Eczacibasi Ilac Sanayi ve Ticaret A.S., the largest pharmaceutical
company in Turkey, will manufacture the products in their modern
facilities in Istanbul and IVAX will obtain approvals, and market and
sell them through its rapidly expanding sales group. It is
contemplated that this relationship will result in a flow of
additional products for these and other markets.

"We are pleased with this important collaboration between IVAX and
Eczacibasi," said Phillip Frost, M.D., chairman and CEO of IVAX
Corporation. "It provides IVAX with another excellent source of
generic products for Central and Eastern Europe, where we have a
strong and growing business. Pharmaceuticals obtained from
arrangements such as this one with Eczacibasi complement those
developed through our own research and development efforts to provide
an expanded range of products."

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.

This press release contains certain forward-looking statements
regarding product and business development efforts and other
non-historical facts which are being made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These statements involve risks and uncertainties that cannot be
predicted or quantified and, consequentially, actual results may
differ materially from those expressed or implied by such
forward-looking statements. Such risks and uncertainties include,
among others, the risks that we may not receive the approval for some
or all of the product marketing authorizations on a timely basis or at
all; that the pharmaceutical markets in central and eastern Europe and
the acceptance of or demand for generic drugs in these countries may
not grow at the rate forecasted; that we may experience delays or
difficulties in expanding our sales group, which would impact our
sales revenues in these countries; that our relationship with
Eczacibasi may not result, as anticipated, in additional products or
other markets; that currency fluctuations may reduce the profitability
of our operations in these countries; and that our efforts to develop
and commercialize our own pharmaceutical products in Europe may be
delayed or fail. In addition to the risk factors set forth above,
IVAX' forward looking statements may also be adversely affected by
general market factors, competitive product development, product
availability, governmental regulations and legislation, the regulatory
process for new products and indications, manufacturing issues that
may arise, trade buying patterns, patent positions and litigation,
among other things. For further details and discussion of these and
other risks and uncertainties, see IVAX' Annual Report on Form 10-K
and other filings with the Securities and Exchange Commission.

   Short Name: IVAX Corporation
   Category Code: AGR
   Sequence Number: 00005020
   Time of Receipt (offset from UTC): 20030521T131035+0100

    --30--CP/mi* mh/uk

    CONTACT: IVAX Corporation, Miami
             Jim Whitlow, 305/575-6043

    KEYWORD: FLORIDA UNITED KINGDOM TURKEY INTERNATIONAL AFRICA/MIDDLE
EAST EUROPE
    INDUSTRY KEYWORD: PHARMACEUTICAL
    SOURCE: IVAX Corporation

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