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NEW JERSEY STATE FORMULARY APPROVES BAKER NORTON'S GENERIC VERAPAMIL

NEW JERSEY STATE FORMULARY APPROVES BAKER NORTON'S GENERIC VERAPAMIL
 MIAMI, Oct. 14 /PRNewswire/ -- IVAX Corporation (AMEX: IVX) announced today that the New Jersey Drug Utilization Review Council has voted to include Baker Norton Pharmaceuticals' 240 mg. verapamil HCl ER tablets on its list of interchangeable drug products. As a result of this determination, pharmacists in New Jersey will be permitted to substitute Baker Norton Pharmaceuticals' generic 240 mg. verapamil HCL ER tablets for the brand name versions of the product when filling patients' prescriptions without the specific authorization of prescribing physicians.
 The New Jersey Drug Utilization Review Council is responsible for determining therapeutic equivalence for generic drugs prescribed in the state. The council's determinations are independent from determinations made by the United States Food and Drug Administration regarding therapeutic equivalence of generic drugs. The New Jersey Drug Utilization Review Council is one of only a small number of states that have positive state formularies of this type. The vast majority of state formularies automatically follow the FDA's determinations regarding therapeutic equivalence.
 Verapamil HCL ER, which is a sustained release product administered once per day for the treatment of hypertension, is a generic equivalent of a product marketed by Knoll under the brand name Isoptin(R) SR. G.D. Searle & Co. also markets the product under the brand name Calan(R) SR. Calan(R) is a registered trademark of G.D. Searle & Co., and Isoptin(R) is a registered trademark of Knoll Pharmaceuticals. Baker Norton Pharmaceuticals received approval from the United States Food and Drug Administration of its Abbreviated New Drug Application for 240 mg. verapamil HCL ER on July 31, 1992. The product is distributed by Goldline Laboratories, Inc.
 Richard C. Pfenniger Jr., IVAX' senior vice president - legal affairs and general counsel stated that, "This decision is particularly gratifying. The New Jersey Drug Utilization Review Council is a highly respected group. Their decision regarding Baker Norton Pharmaceuticals' verapamil validates the FDA's determination of therapeutic equivalence and effectively rebuts statements made by G.D. Searle & Co. to both the trade in promotion of Calan(R) SR and to the financial community criticizing Baker Norton's product." Pfenniger further stated that, "It has always been our position that Searle's comments criticizing Baker Norton's product were motivated by economic self preservation and not good science or medicine."
 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- 10/14/92
 /CONTACT: Richard C. Pfenniger Jr., senior vice president of legal affairs of IVAX Corporation, 305-590-2309/
 (IVX) CO: IVAX Corporation; Baker Norton Pharmaceuticals ST: Florida IN: MTC SU:


JB-JJ -- FL006 -- 9712 10/14/92 09:13 EDT
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Date:Oct 14, 1992
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