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( BW)(IVAX-CORPORATION)(IVX) Research Update

    Business Editors
    UK REGULATORY NEWS

    MIAMI--(BUSINESS WIRE)--July 11, 2003--

IVAX Initiates Phase II Clinical Trial of Talampanel for Brain
Cancer

IVAX Corporation (AMEX:IVX) (LSE:IVX.L) announced today that it has
initiated a phase II trial of talampanel to treat patients with brain
cancer at the National Cancer Institute in Bethesda, Maryland. Dr.
Howard Fine, chief of the Neuro-Oncology Branch at the National Cancer
Institute, is the principal investigator of the study.

Dr. Phillip Frost, chairman and CEO of IVAX, commented, "Talampanel
will represent a completely novel approach to the treatment of brain
cancer."

The most common forms of brain cancer, malignant gliomas, are lethal
tumors that cause progressive and ultimately fatal damage by
proliferating aggressively into unaffected areas, and by causing
damage to vital brain structures.

Malignant glioma cells secrete a neurotransmitter called "glutamate"
and have, on their surface, receptors that bind glutamate.
Pre-clinical studies have suggested that interfering with glutamate
may control glioma cell proliferation and invasion, and may limit
brain injury caused by glutamate excess. Talampanel blocks the effect
of glutamate by blocking the AMPA subtype of glutamate receptors.

Talampanel, administered orally, has been well tolerated and has not
caused bone marrow suppression and other side effects of most current
forms of cancer therapy. The significant anti-seizure activity of
talampanel has been previously reported, and IVAX currently has in
progress an expanded phase II study of talampanel to treat refractory
epilepsy and a phase II study to treat Parkinson's Disease-associated
dyskinesia.

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.

This press release contains certain forward-looking statements
regarding product development efforts and product performance and
other non-historical facts, which are being made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995. These statements involve risks and uncertainties that cannot be
predicted or quantified and, consequentially, actual results may
differ materially from those expressed or implied by such
forward-looking statements. Such risks and uncertainties include,
among others, that others may develop product formulations that are
superior to IVAX' formulations, that clinical trials for talampanel
may fail, may not achieve the expected results or effectiveness and/or
may not generate data that would support the approval or marketing of
this product for the indications being studied or other indications.
In addition to the risk factors set forth above, IVAX' forward-looking
statements may also be adversely affected by general market factors,
competitive product development, product availability, federal and
state regulations and legislation, the regulatory process for new
products and indications, manufacturing issues that may arise, trade
buying patterns, patent positions and litigation, among other things.
For further details and discussion of these and other risks and
uncertainties, see IVAX' Annual Report on Form 10-K and other filings
with the Securities and Exchange Commission.

   Short Name: IVAX Corporation
   Category Code: RES
   Sequence Number: 00006865
   Time of Receipt (offset from UTC): 20030710T185224+0100

    --30--JAR/mi* jgm

    CONTACT: IVAX Corporation, Miami
             David Malina, 305/575-6043 (Investor Relations)

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

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