Worldwide HR Service Spending To Exceed $113 Billion by 2009 with HR Business Process Outsourcing the Fastest Growing Segment IDC Finds

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Food
and Drug Administration (FDA) for its Abbreviated New Drug Application
(ANDA) for doxycycline hyclate 20 mg tablets.

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4 billion , as compared to $71.

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market for HR service providers, while offering
essential guidance and recommended strategies.com

All product and company names may be trademarks or registered
trademarks of their respective holders.

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and
internationally.S. The study analyzes key
factors influencing the timing and magnitude of opportunities in the
worldwide and U.

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L) (WSE:IVX) has received final approval from the U.ivax. Investors are cautioned that forward-looking statements
involve risks and uncertainties which may affect the company's
business and prospects, including the risks that launch of doxycycline
hyclate 20 mg tablets may be delayed or may not occur, and if
launched, the products will not be successfully commercialized;
changing market conditions; the availability and cost of raw materials
and other third party products; the impact of competitive products and
pricing; the difficulty in predicting the timing and outcome of legal
proceedings, including the outcome of CollaGenex Pharmaceuticals ,
Inc.

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for the treatment of bacterial infections and adult
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About IDC

IDC is the premier global market intelligence and advisory firm in
the information technology and telecommunications industries.

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1% to reach over $16 billion in the U. HR Management Services 2005-2009
Forecast (IDC #33028), examines the competitive landscape and provides
a five-year forecast for the worldwide and U.

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We
analyze and predict technology trends so that our clients can make
strategic, fact-based decisions on IT purchases and business strategy. Business executives and IT managers
have relied for 40 years on our advice to make decisions that
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IVAX Corporation, headquartered in Miami, Florida, discovers,
develops, manufactures , and markets branded and brand equivalent
(generic) pharmaceuticals and veterinary products in the U.
Periostat(R) is a registered trademark of CollaGenex Pharmaceuticals,
Inc.
"The worldwide market for HR services showed moderate growth in
2004, although the market experienced some consolidation ," said Lisa
Rowan, program manager for HR Management and Staffing Services at IDC.

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Copies of this and other news releases may be obtained free of
charge from IVAX' website at http://www.9 billion in 2004."
While historically HR deals primarily focused on core HR processes
of payroll, benefits , and HR record keeping, many new engagements now
encompass transformational elements that help optimize the workforce
in addition to core HR. Despite the
contraction, some HR markets are still crowded and vendors will need
to distinguish their offerings to rise above the throng.

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IVAX Receives Final Approval for Doxycycline Hyclate Tablets

com

Except for the historical matters contained herein , statements in
this press release are forward-looking and are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. This
study also identified HR business process outsourcing (BPO) as the
fastest-growing segment of HR services and predicts that it will grow
at a CAGR of 16.

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The IDC study, Worldwide and U.

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's patent infringement claim against IVAX with respect to
doxycycline hyclate; that the patent litigation with respect to these
products could prevent us from selling these products and could result
in substantial damages which could exceed the expected profit or
selling price for these products; the difficulty of predicting the
timing of U. The HR services market has also experienced
numerous mergers, acquisitions, and formations of joint ventures in
the continuing effort to capture market share.

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According to IMS data , U. Food and Drug Administration, or FDA, approvals; the
impact of FDA's or other administrative or judicial agency's decisions
on exclusivity periods; competitors' ability to extend exclusivity
periods past initial patent terms; and other risks and uncertainties
based on economic, competitive , governmental, technological and other
factors discussed in the Company's Annual Report on Form 10 -K and its
other filings with the Securities and Exchange Commission. by 2009.
IDC is a subsidiary of IDG, the world's leading technology media,
research, and events company.

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Doxycycline hyclate 20 mg tablets is the generic equivalent of
Periostat(R) Tablets, which is marketed by CollaGenex Pharmaceuticals,
Inc.S.

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This product will be
sold through IVAX' wholly owned subsidiary, IVAX Pharmaceuticals, Inc.S.
"HR service providers have an opportunity to grow their businesses
through the pursuit of several strategies, including expanding their
offerings to encompass workforce optimization capabilities, delivering
meaningful HR metrics, and simplifying their pricing models.

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Business Editors/Health/Medical Writers

MIAMI----IVAX Corporation (AMEX:IVX)
(LSE:IVX. sales of Periostat (R)
Tablets and doxycycline hyclate 20 mg tablets were $51 million during
2004.

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Business Editors/Technology Editors

FRAMINGHAM, Mass.----According to a
newly released IDC study, worldwide HR service spending will
experience a compound annual growth rate (CAGR) of 9.6% through 2009
to reach $113. markets for human
resources management services, including discrete HR outsourcing, HR
consulting, and full-service HR outsourcing.
Over 700 IDC analysts in 50 countries provide local expertise and
insights on technology markets.