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IVAX ANNOUNCES JOINT DEVELOPMENT AGREEMENT WITH BI

 IVAX ANNOUNCES JOINT DEVELOPMENT AGREEMENT WITH BI
 MIAMI, Nov. 4 /PRNewswire/ -- IVAX Corporation (AMEX: IVX) announced


today that its wholly owned subsidiary, Norton Healthcare Limited, entered into an agreement with Boehringer Ingelheim International GmbH, Ingelheim, Rhine, Germany, regarding the joint development of Norton's breath activated device to be used with metered dose inhalers for the treatment of respiratory diseases. The device is designed to overcome the difficulty many persons experience when using manually activated devices of coordinating their inhalation with the emission from the metered dose inhaler.
 Pursuant to the agreement, Boehringer will have the right to market the device for its respiratory products upon completion of the development program. Norton will receive an initial fee and additional payments upon achievement of development milestones. Upon receipt of regulatory approvals, Norton will supply the device to Boehringer. Norton retains the right to use the device for its own metered dose inhaler products.
 This agreement with Boehringer Ingelheim is similar to one entered into between Norton and the Glaxo Group Limited, London, England in June of 1992, with respect to Glaxo's range of asthma products.
 Commenting on the agreement, Phillip Frost, M.D., chairman and chief executive officer of IVAX, stated "With Boehringer Ingelheim and Glaxo we have two ideal marketing partners for our device. These companies sell some of the most important metered dose inhaler products in the world." Frost further commented that "This device represents a significant advancement in metered dose inhaler technology, and we hope that it will eventually replace the manually activated metered dose inhalers used today. We are extremely proud of the efforts of our scientists and engineers at Norton who developed the device."
 Boehringer Ingelheim is a research-oriented pharmaceutical company, represented by 140 companies world-wide. The range of its pharmaceutical specialties includes respiratory and cardiovascular diseases, diseases of the central nervous system, inflammatory diseases and viral infections. With this joint development agreement, Boehringer Ingelheim will improve its position as one of the market leaders of respiratory products.
 IVAX Corporation is a holding company with subsidiaries involved in specialty chemicals, pharmaceuticals and medical diagnostics. IVAX' principal subsidiaries include Baker Norton Pharmaceuticals, Inc., a developer and marketer of unique brand name pharmaceuticals; Norton Healthcare Limited, a leading manufacturer and marketer of off-patent pharmaceuticals in the United Kingdom, Ireland and other countries; LuChem Pharmaceuticals, Inc., a manufacturer of off- patent pharmaceuticals in the United States; Goldline Laboratories, Inc., a national marketer of off-patent prescription and over-the- counter pharmaceuticals in the United States; Baker Cummins Dermatologicals, Inc., a dermatological products company; Flori Roberts, Inc., a skin care and cosmetics company; DVM Pharmaceuticals Inc., a veterinary products company; Diamedix Corporation, a medical diagnostics company; Delta Biologicals S.r.l., a marketer of medical diagnostic tests and instruments in Italy; and IVAX Industries, Inc., a chemical specialties business.
 -0- 11/4/92
 /CONTACT: Richard C. Pfenniger Jr., senior vice president -- legal affairs, general counsel and secretary of IVAX Corporation, 305-590-2309/
 (IVX) CO: IVAX Corporation; Boehringer Ingelheim International GmbH; Norton
 Healthcare Limited ST: Florida IN: MTC SU: JVN


JB-JJ -- FL002 -- 2304 11/04/92 08:14 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Date:Nov 4, 1992
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