Ivax Corporation has entered into agreements with Gedeon Richter Ltd under which a number of generic drugs will be developed for the United States market and distributed exclusively by Ivax' wholly-owned subsidiary, Ivax Pharmaceuticals, Inc.

Dr Rafick Henein, Ivax Pharmaceuticals, Inc.'s president and chief executive officer, said, "Ivax is very pleased with this new collaboration. Gedeon Richter's technical abilities and dedication to excellence are truly outstanding. Ivax Pharmaceuticals, Inc. continues to build alliances with exceptional companies to achieve our objective of being the USA's leading generic company."

Gedeon Richter Ltd, founded in 1901 and headquartered in Budapest, Hungary, is the largest pharmaceutical company in Hungary and one of the largest in Eastern Europe. Its activities cover the full range of R&D, manufacture of bulk raw materials, intermediates, final dosage form pharmaceuticals, and packaging, marketing, distribution and sales.

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