IVAX to Distribute Mayne Pharma Injectable Oncology Products in Central and Eastern Europe

Business Wire, July 1, 2005

MIAMI -- IVAX Corporation (AMEX:IVX) (LSE:IVX.L) (WSE:IVX) announced today that IVAX has signed an agreement with Mayne Pharma under which IVAX will exclusively distribute a number of Mayne's generic injectable oncology products for certain markets in Central and Eastern Europe. Mayne Pharma will manufacture the products and receive payments from IVAX based on product sales.

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 requisite regulatory authorizations may be achieved later than anticipated or not at all; that the collaboration with Mayne Pharma may not achieve the results expected; and the risks associated with 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.