IVAX Corporation

       IVAX Completes Transaction with Delivery Systems Company

IVAX Corporation (AMEX:IVX) (LSE:IVX.L) announced the completion of its
previously announced agreement to acquire Advanced Tobacco Products, Inc. (ATP),
an inhalation technology company.

The shareholders of ATP voted to approve the transaction at a September 23, 2003
shareholders' meeting.

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.