IVAX BEGINS PHASE II STUDY FOR BPH DRUG.

IVAX Corporation's (AMEX:IVX) Hungarian subsidiary, the IVAX Institute for Drug Research, has received approval to conduct a multi-center placebo-controlled human phase II study of its new molecule, GYKI-16084, in men with benign prostatic hypertrophy (BPH). It is anticipated that 200 patients will be enrolled in the study, which will last 58 days.

In March 2001, IVAX announced the award of US Patent 6,194,411 for its proprietary compound, GYKI-16084, to be used in the study. Phase I studies distinguished the IVAX compound as more uroselective, with a greatly reduced incidence of important side effects such as dizziness, fainting and sexual dysfunction, typical of the currently used drugs.

"This important new drug to treat BPH appears to be quite efficacious but less likely to cause the serious and common side effects associated with the presently available drugs," said Phillip Frost, M.D., chairman and chief executive officer of IVAX.

IVAX Corporation, headquartered in Miami, is engaged in the research, development, manufacture and marketing of branded and brand equivalent pharmaceuticals and veterinary and diagnostic products in the U.S. and international markets.

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