IVAX Initiates Phase III Trial Of ``Soft'' Corticosteroid For Allergies

     
BW20030813002066  20030813T163703Z UTC



( BW)(IVAX-CORPORATION)(IVX) IVAX Initiates Phase III Trial Of ``Soft''
Corticosteroid For Allergies

    Business Editors
    UK REGULATORY NEWS

   MIAMI--(BUSINESS WIRE)--Aug. 13, 2003--

IVAX Corporation (AMEX:IVX)(LSE:IVX.L) announced today the
initiation of a phase III trial of loteprednol etabonate for the
treatment of allergic rhinitis. Loteprednol etabonate is one of a
class of "soft" corticosteroids being developed by IVAX for a variety
of inflammatory disorders. These drugs have been designed to maintain
the anti-inflammatory properties of corticosteroids, while
substantially reducing the potential for side effects. The annual U.S.
market for corticosteroid nasal sprays to treat allergic rhinitis is
approximately $2 billion and growing.
   
Dr. Phillip Frost, chairman and CEO of IVAX commented,
"Loteprednol etabonate is one of several drugs in advanced development
in IVAX' pipeline which have novel mechanisms of action and address
major medical needs. We have been investing heavily in our proprietary
pipeline and believe we are creating very real value."
   
IVAX is also developing its new patented "soft" corticosteroids
for the treatment of Crohn's disease and ulcerative colitis,
dermatitis and asthma.
   
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 development efforts and product performance and
other non-historical facts which are being are 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, that Phase III clinical trials for loteprednol
etabonate, and clinical trials for IVAX' other products under
development, may not be commenced or completed on a timely basis or at
all, may fail, may not achieve the expected results or effectiveness
and/or may not generate data that would support the approval or
marketing of these products for the indications being studied or for
other indications; that loteprednol etabonate and IVAX' other "soft"
corticosteroids may not have equivalent effectiveness and fewer side
effects than currently available corticosteroid products; that IVAX'
patents pertaining to loteprednol etabonate may be invalidated or may
otherwise not succeed in preventing other similar and/or competitive
products; that others may develop product formulations that are
superior to the IVAX formulation; and that IVAX may not be
able to realize the potential value of its proprietary pipeline. 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, federal and
state 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: RES
   Sequence Number: 00008360
   Time of Receipt (offset from UTC): 20030813T140415+0100

    --30--JD/mi* zw/uk*

    CONTACT: IVAX Corporation

    KEYWORD: UNITED KINGDOM INTERNATIONAL EUROPE
    INDUSTRY KEYWORD: MEDICAL PHARMACEUTICAL 
    SOURCE: IVAX Corporation

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