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IVAX ANNOUNCES RECORD EARNINGS

 IVAX ANNOUNCES RECORD EARNINGS
 MIAMI, Nov. 3 /PRNewswire/ -- IVAX Corporation (AMEX: IVX) today


announced its results of operations for the three and nine months ended Sept. 30, 1992.
 The results of operations and a summary balance sheet are detailed below:
 IVAX CORPORATION
 Results of Operations
 (In Thousands, except per share data)
 Nine Months Ended Sept. 30,
 1992 1991
 Revenues $321,632 $150,376
 Net income before
 income taxes $ 34,618 $ 12,375
 Net income $ 31,470 $ 10,198
 Earnings per share:
 Primary $ .46 $ .17
 Fully Diluted $ .46 $ .16
 Average shares outstanding:
 Primary 68,407 61,756
 Fully Diluted 68,693 62,792
 Three Months Ended Sept. 30,
 1992 1991
 Revenues $120,993 $ 49,160
 Net income before
 income taxes $ 22,802 $ 3,136
 Net income $ 21,700 $ 2,606
 Earnings per share: $ .32 $ .04
 Average shares outstanding 68,457 65,631
 BALANCE SHEET
 (In Thousands)
 Assets
 Sept. 30, Dec. 31,
 1992 1991
 Current assets $262,349 $280,967
 Property, plant and
 equipment, net 65,414 50,801
 Other assets 165,346 139,552
 Total assets $493,109 $471,320
 Liabilities and Stockholders' Equity
 Sept. 30, Dec. 31,
 1992 1991
 Current liabilities $ 80,542 $129,815
 Long-term debt 163,651 137,140
 Other long-term liabilities 1,635 1,760
 Shareholders' equity 247,281 202,605
 Total liabilities and
 stockholders' equity $493,109 $471,320
 The company noted that the improved results for the three and nine months ended Sept. 30, 1992 compared to the results for the three and nine months ended Sept. 30, 1991 was primarily due to sales of Verapamil HCI ER which began in August 1992 and the 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 Norton 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; LuChem Pharmaceuticals, Inc., a manufacturer of off- patent pharmaceuticals in the United States; 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; 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- 11/3/92
 /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


JJ-JB -- FL001 -- 1917 11/03/92 08:02 EST
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Date:Nov 3, 1992
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