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Ivax Corp.

Ivax announces tender offer for 4.5% convertible senior subordinated notes due 2008

Published in Law and Health Weekly, March 18th, 2006

Ivax Corp., a wholly owned subsidiary of Teva Pharmaceutical Industries Limited, has commenced an offer to repurchase any and all of its outstanding 4.5% Convertible Senior Subordinated Notes due 2008.

The indenture governing the notes requires Ivax to make the offer as a result of the merger of Ivax with and into a wholly owned subsidiary of Teva and the related replacement of the board of Directors of Ivax.

Ivax is offering to purchase the notes for cash at a purchase price, per $1,000 principal amount, equal to 100% of the principal amount, together with $17.88 per $1,000 principal amount, representing accrued and unpaid cash interest to, but...

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