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Positive Results Reported in Phase II Study of Cervene - TP-38 - To Treat Brain Cancer Data Presented at Society for Neuro-Oncology Meeting in Toronto


Posted on: 11/19/2004

Positive Results Reported in Phase II Study of Cervene - TP-38 - To Treat Brain Cancer; Data Presented at Society for Neuro-Oncology Meeting in Toronto

Pharmaceutical Writers/Business Editors

MIAMI--(BUSINESS WIRE)--Nov. 19, 2004--IVAX Corporation (AMEX:IVX)(LSE:IVX.L) announced today that positive phase II study results were reported for Cervene(TM) (TP-38) to treat recurrent glioblastoma, a highly malignant form of brain cancer.

In this study, patients with tumor progression after previous surgery and radiation received an infusion of Cervene into their brain cancer and surrounding brain tissue. Clear evidence of anti-tumor activity was reported, with several patients achieving clinical responses, including one patient with a complete response. The median survival has not yet been reached, but is over 30 weeks which is longer than expected. The investigators further reported that Cervene was very well tolerated.

Dr. Phillip Frost, Chairman and CEO of IVAX commented, "The positive results from this phase II trial and the favorable clinical responses reported in an earlier phase I trial have encouraged IVAX to initiate an expanded phase II trial involving 20 medical centers in the United States and Europe. The progress made in the development of Cervene is an example of IVAX' commitment to the development of novel proprietary drugs for the treatment of serious illness."

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 are 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 phase II indications may not be indicative of future results; that others may develop product formulations that are superior to IVAX' formulations; and that phase II clinical trials for Cervene(TM) (TP-38), and clinical trials for IVAX' other products under development, may not be commenced or completed on a timely basis or at all, may fail, may not achieve the expected results or effectiveness and/or may not generate data that would support the continued development, approval or marketing of these products 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.

--30--JAR/mi* CONTACT: IVAX Corporation, Miami
David Malina, 305-575-6043
Director/Investor Relations & Corporate Communications
KEYWORD: FLORIDA INTERNATIONAL CANADA
INDUSTRY KEYWORD: PHARMACEUTICAL MEDICAL PRODUCT
SOURCE: IVAX Corporation
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