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IVAX ANNOUNCES JOINT DEVELOPMENT AGREEMENT WITH GLAXO

 IVAX ANNOUNCES JOINT DEVELOPMENT AGREEMENT WITH GLAXO
 MIAMI, June 16 /PRNewswire/ -- IVAX Corporation (AMEX: IVX)


announced today that its wholly owned subsidiary, Norton Healthcare Limited, has entered into an agreement with Glaxo Group Limited, London, England, regarding the joint development of a breath activated device to be used with metered dose inhalers for the treatment of asthma and other pulmonary disorders. Upon completion of the development program, Glaxo will receive marketing rights to the device for its entire range of asthma products. Norton will receive an initial fee and additional payments upon the achievement of development milestones. Upon receipt of necessary regulatory approvals, Norton will supply Glaxo with the device.
 The device is designed to overcome the difficulty many asthma sufferers experience in using their manually activated metered dose inhalers of coordinating the activation of the metered dose inhaler with their inhalation. Norton retains the right to use the device for its own metered dose inhaler products. In the United Kingdom, these products will be marketed by its subsidiary, Baker Norton Limited. Baker Norton was recently established for the purpose of marketing brand name pharmaceuticals in the United Kingdom. Norton recently acquired the Serenace and Probanthine preparations from G. D. Searle and Co., and the Cordilox preparation from Abbott Laboratories. Norton now also markets the Steripak line of branded pharmaceutical products sold in the United Kingdom as part of the business of Waverley Pharmaceutical Limited.
 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; 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- 6/16/92
 /CONTACT: Richard C. Pfenniger Jr., senior vice president of legal affairs of IVAX Corporation, 305-590-2309/
 (IVX) CO: IVAX Corporation; Glaxo Group Limited ST: Florida IN: MTC SU: JVN


AW-JB -- FL004 -- 0599 06/16/92 10:51 EDT
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Publication:PR Newswire
Date:Jun 16, 1992
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