IVAX Announces Agreement to Co-Market Warfarin Tablets

Business Wire, August 18, 1999

MIAMI--(BUSINESS WIRE)--Aug. 18, 1999--

IVAX Corporation's (AMEX:IVX) U.S. generic subsidiary, Zenith Goldline Pharmaceuticals, Inc., today announced that it has entered into an agreement with Taro Pharmaceutical Industries Ltd. for the co-marketing in the U.S. of all nine strengths of Taro's recently FDA-approved Warfarin Sodium Tablets USP (the generic equivalent of the brand anticoagulant Coumadin(R) tablets from Dupont Pharmaceuticals Company).

The agreement also provides for the co-marketing and/or supply in the U.S. by both parties of certain other products already marketed or under development.

"This strategic alliance with Taro Pharmaceuticals will further enhance our ability to supply quality pharmaceuticals to our U.S. based customers," stated Dr. Rafick Henein, President & CEO of Zenith Goldline. "Taro's knowledge of the product over many years and their ability to synthesize the active for this product makes it the ideal partner to work with to supply this important product. The strategic direction of Zenith Goldline to form alliances with other companies will further strengthen our market position," added Dr. Henein.

IVAX Corporation, headquartered in Miami, Florida, is a holding company with subsidiaries engaged in the research, development, manufacture, and marketing of branded and generic pharmaceuticals in the U.S. and international markets.

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 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, and cause results to differ materially from those set forth in the forward-looking statements. Among other things, products under development may not be successfully commercialized; the company may not market all products covered by the agreement; the company may not form additional alliances; and alliances may not strengthen the company's market position. In addition to the factors set forth elsewhere in this release, the economic, competitive, governmental, technological and other factors identified in IVAX's filings with the Securities and Exchange Commission could affect the forward-looking statements contained in this release.