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IVAX ANNOUNCES RECORD EARNINGS

 IVAX ANNOUNCES RECORD EARNINGS
 MIAMI, May 12 /PRNewswire/ -- IVAX Corporation (AMEX: IVX) today


announced its results of operations for the three months ended March 31, 1992.
 The results of operations and a summary balance sheet are detailed below:
 IVAX CORPORATION
 Results of Operations
 (In thousands, except per share data)
 Three Months Ended March 31,
 1992 1991
 Revenues $ 94,345 $ 43,812
 Net income before income taxes $ 4,297 $ 3,814
 Net income $ 3,760 $ 2,843
 Earnings per share $ .06 $ .05
 Average shares outstanding 66,442 56,747
 Balance Sheet at March 31, 1992
 (In thousands)
 Assets
 Current assets $ 257,800
 Property, plant and equipment, net 44,011
 Other assets 151,616
 Total assets $ 453,427
 Liabilities and Stockholders' Equity
 Current liabilities $ 111,706
 Long-term debt 136,021
 Other long-term liabilities 1,546
 Shareholders' equity 204,154
 Total liabilities
 and stockholders' equity $ 453,427
 The company noted that the improved results for the three months ended March 31, 1992 compared to the three months ended March 31, 1991 were principally due to revenues and income of Goldline Laboratories which was acquired in December 1991.
 IVAX Corporation is a holding company with subsidiaries involved in specialty chemicals, pharmaceuticals and medical diagnostics. IVAX' principal subsidiaries include Baker Cummins 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; 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; Willen Drug Company, a urological products 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- 5/12/92
 /CONTACT: F.E. Baxter, senior vice president-finance and chief financial officer of IVAX Corporation, 305-590-2318/
 (IVX) CO: IVAX Corporation ST: Florida IN: MTC SU: ERN


AW-JB -- FL009 -- 9305 05/12/92 16:23 EDT
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Publication:PR Newswire
Date:May 12, 1992
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