Business Services Industry

IVAX Announces Results of 2002 Annual Shareholders' Meeting

Business Wire, June 27, 2002

Business Editors/Health & Medical Writers

IVAX Corporation (AMEX:IVX) (LSE:IVX.L) announced that at its 2002 Annual Meeting of Shareholders, held earlier today in Miami, Florida, shareholders re-elected the following Directors to the company's Board:

- Phillip Frost, M.D. - Chairman and Chief Executive Officer of

IVAX Corporation

- Isaac Kaye - Deputy Chief Executive Officer of IVAX Corporation

and Chairman of IVAX Pharmaceuticals UK Limited

- Neil Flanzraich - Vice Chairman and President of IVAX

Corporation

- Jane Hsiao, Ph.D. - Vice Chairman of Technical Affairs and Chief

Technical Officer of IVAX Corporation

- Mark Andrews - President of Great Spirits Company LLC

- Ernst Biekert, Ph.D. - Professor of Chemistry at the University

of Heidelberg

- Charles M. Fernandez - President and Chief Executive Officer of

Big City Radio

- Jack Fishman, Ph.D. - Director of Research at Strang Cancer

Research Laboratory

- Richard C. Pfenniger, Jr. - Chief Executive Officer and Director

of Whitman Education Group, Inc.

Dr. Frost conducted the business portion of the meeting. Presentations about IVAX' business were made by Neil Flanzraich; Roberto Prego Novo, Vice President - Latin America and President and Chief Executive Officer of Laboratorios Elmore; and Richard Denness, Vice President - Sales and Marketing and President of IVAX Laboratories, Inc. The meeting proceedings and presentations were videotaped and will be available on the company's Web site at http://www.ivax.com in approximately 3-5 business days.

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 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.>