Business Services Industry

IVAX Names Vice President of Sales and Marketing

Business Wire, April 25, 2002

Business Editors/Health & Medical Writers

MIAMI--(BUSINESS WIRE)--April 25, 2002

IVAX Corporation (AMEX:IVX)(LSE:IVX.L) today announced that Richard Denness has joined the company to fill the newly created corporate position of vice president of sales and marketing. Mr. Denness will be responsible for integrating the activities of IVAX' sales organizations around the world. He has more than 13 years of domestic and international sales and marketing experience in the pharmaceutical industry, mostly with Schering-Plough Corporation. Mr. Denness will report to Neil Flanzraich, vice chairman and president of IVAX Corporation.

Related Results

"As we continue to build a multinational pharmaceutical company, Mr. Denness will play a critical role in helping IVAX to maximize the growth potential of our products," said Mr. Flanzraich. Mr. Denness's first priority will be supporting IVAX Laboratories, the company's U.S. proprietary pharmaceutical sales and marketing organization, in its national roll-out of several important products. Earlier this month, IVAX obtained exclusive U.S. rights to QVAR(R), a currently marketed branded asthma product containing a novel formulation of beclomethasone in an HFA (hydrofluoroalkane) propellant. Beclomethasone is one of the most widely prescribed anti-inflammatory corticosteroids to treat respiratory conditions. IVAX also recently acquired the U.S. branded intranasal steroid product Nasarel(R) for the treatment of allergic rhinitis. Nasarel delivers the drug flunisolide hemihydrate in a comfortable nasal spray formulation that the company believes has comparable safety and efficacy to the market leaders in this category.

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. Shareholders and prospective investors can register to automatically receive the company's press releases via email at http://www.ivax.com/ComNewsv2.htm.> This press release contains certain forward-looking statements regarding product development efforts, growth prospects, 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 our products may not prove to have the perceived advantages or comparable safety and efficacy over other available products;; the impact of competitive products and pricing; and successful compliance with extensive, costly, complex and evolving governmental regulations and restrictions;. 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. QVAR is a trademark of 3M Company.