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( BW)(IVAX-CORPORATION)(IVX) IVAX Wins 2003 Business Development Strategy Award

    Business Editors
    UK REGULATORY NEWS

    LONDON--(BUSINESS WIRE)--May 16, 2003--

IVAX Corporation (AMEX:IVX) (LSE:IVX.L) announced today that it
has received the 2003 Frost & Sullivan Business Development Strategy
Award for the U.S. asthma therapies market. The award is presented
each year to the company that has demonstrated excellence in business
development within the industry.

IVAX was recognized for excellence in both its generic and
proprietary asthma strategies. Specific recognition was given to the
evolution of IVAX Laboratories, IVAX' proprietary unit, which
throughout 2002 built a national sales force which has successfully
marketed QVAR, a CFC-free aerosol asthma product. Frost & Sullivan
highlighted the fact that IVAX has increased the market share of QVAR
by nearly 300% since acquiring the product in April 2002. IVAX had
total worldwide respiratory sales of over $250 million during 2002.

"We are proud to accept this award," commented Neil Flanzraich,
vice chairman and president of IVAX Corporation. "Our U.S. proprietary
marketing and sales group has done a great job of developing the U.S.
market for QVAR, as we prepare for launches of future proprietary
drugs to treat respiratory diseases."

IVAX Corporation, headquartered in Miami, Florida, discovers,
develops, manufactures, and markets branded and brand equivalent
(generic) pharmaceuticals and veterinary products in the U.S. and
internationally.

Copies of this and other news releases may be obtained free of
charge from IVAX' website at http://www.ivax.com.


   Short Name: IVAX Corporation
   Category Code: MSC
   Sequence Number: 00004904
   Time of Receipt (offset from UTC): 20030516T132923+0100

    --30--CP/mi* ne/uk

    CONTACT: IVAX Corporation

    KEYWORD: UNITED KINGDOM INTERNATIONAL EUROPE
    INDUSTRY KEYWORD: MEDICAL PHARMACEUTICAL 
    SOURCE: IVAX Corporation

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