Regulatory Approval

     
BW20030221002040  20030221T120016Z UTC


( BW)(IVAX-CORPORATION)(IVX) Regulatory Approval

    Business Editors
    UK REGULATORY NEWS

    MIAMI--(BUSINESS WIRE)--Feb. 21, 2003--

                 IVAX Receives Approval for Tamoxifen

IVAX Corporation (AMEX:IVX)(LSE:IVX.L) announced today that it has
received final FDA approval for its Abbreviated New Drug Application
(ANDA) for tamoxifen citrate tablets in 10 mg and 20 mg strengths.
IVAX will immediately begin to market tamoxifen citrate through its
wholly owned subsidiary, IVAX Pharmaceuticals, Inc. Tamoxifen citrate
is a nonsteroidal antiestrogen used in the treatment of breast cancer.
It is the generic equivalent of AstraZeneca's Nolvadex(R). U.S. sales
of branded and generic tamoxifen citrate were approximately $500
million in 2002.

IVAX currently has 37 ANDAs and one tentative approval pending at the
FDA. The company is continuing its aggressive filing schedule for new
ANDA submissions.

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' web site 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,
including the statements regarding IVAX' pending ANDAs and tentative
approvals and filing schedule for ANDA submissions, involve risks and
uncertainties which may affect the company's business and prospects,
including the risks that the launch of tamoxifen citrate tablets in 10
mg and 20 mg strengths will be delayed; that the compounds and
products in the IVAX' research pipeline will not be successfully
developed, will not receive regulatory approval or will not be
successfully commercialized; changing market conditions; the
availability and cost of raw materials and other third party products;
the impact of competitive products and pricing; that if approved, the
products will not be successfully commercialized; that IVAX may not
file any additional ANDAs; 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. Nolvadex(R) is a
registered trademark of AstraZeneca.

   Short Name: IVAX Corporation
   Category Code: REA
   Sequence Number: 00002189
   Time of Receipt (offset from UTC): 20030220T213436+0000

    --30--BL/mi* db/in

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

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

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