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BAKER NORTON PHARMACEUTICALS RECEIVES LICENSE FROM RESEARCH FOUNDATION OF STATE UNIVERSITY OF NEW YORK AT BUFFALO FOR NEW VASODILATOR THERAPY

 MIAMI, Feb. 24 /PRNewswire/ -- IVAX Corporation (AMEX: IVX) announced today that The Research Foundation of the State University of New York granted IVAX' wholly owned subsidiary, Baker Norton Pharmaceuticals, Inc., a worldwide license to a series of drugs to treat angina pectoris, congestive heart disease and other cardiovascular disorders.
 Angina pectoris is chest pain caused by inadequate coronary blood flow to the heart; congestive heart failure (CHF) is a condition in which the heart fails to pump blood adequately. Currently, it is estimated that more than 9 million people in the United States suffer from these conditions.
 Nitroglycerin and other nitrates are presently used to treat angina and CHF. In recent years, transdermal nitroglycerin patches were introduced as a convenient dosage form. However, the utility of patches as well as of oral forms of nitrates is limited since tolerance to the drug develops rapidly leaving patients unprotected for periods of time. Intermittent dosing is required to avoid this problem.
 Dr. Ho-Leung Fung, chairman of the Department of Pharmaceutics at the State University of New York at Buffalo, has identified a series of agents which in animal models are as effective as organic nitrates but which do not result in the development of tolerance. Dr. Philip Frost, chairman of IVAX Corporation, said "Dr. Fung's discovery represents a potential major advance in the care of patients who are presently being treated with nitroglycerin and other similar drugs. This project is particularly interesting to IVAX Corporation since there are many people in the company with considerable experience in cardiovascular drug development."
 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 manufacturer, developer and marketer of unique brand name pharmaceuticals; Norton Healthcare Limited, a leading manufacturer and marketer of generic pharmaceuticals in the United Kingdom, Ireland and other countries; H.N. Norton Co. (formerly LuChem Pharmaceuticals, Inc.), a manufacturer of generic pharmaceuticals in the United States; Goldline Laboratories, Inc., a national marketer of generic 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- 2/24/93
 /CONTACT: Richard C. Pfenniger Jr. , senior vice president-legal affairs of IVAX Corporation, 305-590-2309/
 (IVX)


CO: IVAX Corporation ST: Florida IN: MTC SU: PER

JJ-JB -- FL001 -- 9742 02/24/93 08:30 EST
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Date:Feb 24, 1993
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