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IVAX

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Executive Summary

IVAX: Completes previously announced sale of 53%, or 800,000 shares, to Japanese firm SS Pharmaceuticals for $ 11.4 mil. In addition, IVAX subsidiary Baker Cummins (formerly IVAX Pharmaceuticals) has entered into a cooperative R&D agreement under which SS Pharmaceuticals has exclusive right of first refusal in Japan and other Asian countries to IVAX products and IVAX has similar rights to SS products in the U.S. and Canada. SS Pharmaceuticals is the third largest manufacturer and distributor of OTCs in Japan and has a number of ethical products in development, IVAX says.

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