IVAX Receives Tentative Approval for Lisinopril.

Business Editors/Health & Medical Writers

MIAMI--(BUSINESS WIRE)--Dec. 21, 2001

IVAX Corporation (AMEX:IVX) (LSE:IVX.L) announced today that the United States Food and Drug Administration (FDA) has given tentative approval to the company's Abbreviated New Drug Application (ANDA) for lisinopril tablets in 2.5 mg, 5 mg, 10 mg, 20 mg, 30 mg and 40 mg strengths. Lisinopril is used to treat hypertention, heart failure and acute myocardial infarction and is the generic equivalent of Zestril(R) Tablets sold by AstraZeneca. IVAX will launch and market this product through its wholly owned subsidiary, IVAX Pharmaceuticals, Inc. immediately following expiration of the pediatric exclusivity period for the branded drug on June 29, 2002.

IVAX currently has 32 ANDAs and 4 tentative approvals pending at the FDA and is continuing its aggressive filing schedule for new ANDA submissions.

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

Copies of this and other news releases may be obtained free of charge from IVAX' Web site 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, including the statements regarding IVAX' pending ANDAs and tentative approvals and filing schedule for ANDA submissions, involve risks and uncertainties which may affect the company's business and prospects, including the risks that IVAX Pharmaceuticals may not receive final approval for lisinopril tablets in 2.5 mg, 5 mg, 10 mg, 20 mg, 30 mg and 40 mg strengths or that its launch will be delayed; that IVAX may not receive approval of its pending ANDAs or final approval of its tentatively approved ANDAs, or that if approved, the products will not be successfully commercialized; that IVAX may not file any additional ANDAs; and other risks and uncertainties based on economic, competitive, governmental, technological and other factors discussed in the Company's 2000 Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission. Zestril(R) Tablets is a registered trademark of AstraZeneca.