IVAX to Distribute Levothyroxine Sodium Tablets USP

Business Wire, August 31, 2005

MIAMI -- IVAX Corporation (AMEX:IVX) (LSE:IVX.L) (WSE:IVX) announced today that its wholly owned subsidiary, IVAX Pharmaceuticals, Inc., will distribute in the United States, through an exclusive licensing agreement derived from another company's recently approved ANDA, levothyroxine sodium tablets USP in .025, .05, .075, .088, .1, .112, .125, .15, .175, .2 and .3 mg dosage strengths. Levothyroxine sodium tablets USP are the generic equivalent of Synthroid(R), a naturally occurring thyroid hormone used to treat low thyroid levels, which is marketed by Abbott Laboratories. According to IMS data, U.S. sales for Synthroid(R) were approximately $677 million during the twelve months ending June 30, 2005.

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' website at http://www.ivax.com.

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 involve risks and uncertainties which may affect the company's business and prospects, including the risks that the launch of levothyroxine sodium tablets USP in .025, .05, .075, .088, .1, .112, .125, .15, .175, .2 and .3 mg dosage strengths will be delayed; that sales data may not be indicative of the market for the Company's product or the sales which the Company may achieve; that the change of control of the Company or regulatory issues arising from the pending merger of the Company and Teva Pharmaceutical Industries Limited could affect the Company's relationships and/or agreements with third parties, including distributors, manufacturers, suppliers and customers; changing market conditions; the results of new or changed regulations regarding authorized generics; the impact of competitive products and pricing; 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. Synthroid(R) is a registered trademark of Abbott Laboratories.