IVAX GETS FINAL APPROVAL FOR METFORMIN.

Biotech Business, March, 2002

IVAX Corporation (AMEX:IVX) (LSE:IVX.L), Miami, has received final approval for its Abbreviated New Drug Application (ANDA) for sales of metformin hydrochloride tablets in 500 mg, 625 mg, 750 mg, 850 mg and 1000 mg strengths from the United States Food and Drug Administration (FDA). Metformin hydrochloride is used to treat diabetes and is the generic equivalent of Bristol-Myers Squibb Company's Glucophage(R) Tablets.

IVAX will immediately sell this product through its wholly owned subsidiary, IVAX Pharmaceuticals, Inc. U.S. sales of Glucophage Tablets were approximately $1.8 billion during the past year.

IVAX currently has 38 ANDAs and four tentative approvals pending at the FDA. The company is continuing its aggressive filing schedule for new ANDA...

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