IVAX Receives Tentative Approval For Gabapentin

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

IVAX Corporation (AMEX:IVX) (LSE:IVX.L) has received tentative         
approval from the FDA for its Abbreviated New Drug Application (ANDA)  
for gabapentin capsules in 100 mg, 300 mg and 400 mg strengths. Upon   
final approval this product will be sold through the company's wholly  
owned subsidiary, IVAX Pharmaceuticals, Inc. Gabapentin is the generic 
equivalent of Neurontin(R), which is used to treat epileptic seizures  
and is marketed by Warner-Lambert, a unit of Pfizer, Inc. Neurontin    
had U.S. sales of over $2.2 billion during the twelve months ending in 
June 2003.                                                             
                                                                       
Warner-Lambert sells Neurontin in 5 dosage strengths, 100 mg, 300 mg   
and 400 mg capsules and 600 mg and 800 mg tablets. IVAX has also filed 
an ANDA for gabapentin tablets in 100 mg, 300 mg, 400 mg, 600 mg and   
800 mg dosage strengths and believes that it has first to file status  
on gabapentin tablets in 100 mg, 300 mg and 400 mg strengths.          
                                                                       
IVAX continues its aggressive program to increase the number of        
products in its generic portfolio.                                     
                                                                       
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.                             
                                                                       
The "FDA" refers to the United States Food and Drug Administration.    
                                                                       
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 involve  
risks and uncertainties which may affect the company's business and    
prospects, including the risks that final approval of IVAX' ANDA for   
gabapentin capsules in 100 mg, 300 mg and 400 mg dosage strengths may  
be delayed or not received at all; that launch of the capsules may be  
delayed; changing market conditions; the availability and cost of raw  
materials and other third party products; the impact of competitive    
products and pricing; the difficulty in predicting the timing and      
outcome of legal proceedings, including those relating to patent       
challenge settlements and patent infringement cases; the difficulty of 
predicting the timing of U.S. Food and Drug Administration, or FDA,    
approvals; the impact of FDA's or other administrative or judicial     
agency's decisions on exclusivity periods; competitors' ability to     
extend exclusivity periods past initial patent terms; that IVAX may    
not receive approval of its pending ANDA for the 100 mg, 300 mg, 400   
mg, 600 mg and 800 mg tablets, or that if approved, the products will  
not be successfully commercialized; that IVAX may not be first to file 
for the 100 mg, 300 mg, 400 mg tablets; that market acceptance for the 
tablet dosage form of gabapentin may not be as anticipated; that IVAX  
may not increase the number of products in its generic portfolio; and  
other risks and uncertainties based on economic, competitive,          
governmental, technological and other factors discussed in the         
Company's Annual Report on Form 10-K and its other filings with the    
Securities and Exchange Commission. Neurontin(R) is a registered       
trademark of Warner-Lambert Company, a unit of Pfizer Inc.