IVAX (IVX) POS AM Prospectus update (post-effective amendment)

EXHIBIT 12

Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)
(unaudited)

	Year Ended December 31,												Six Months Ended June 30,
	2000		2001		2002		2003		2004 Actual		2004 Proforma (1)		2005 Actual		2005 Proforma (1)
Fixed Charges:
Interest expense on indebtedness	$	14,773	$	42,730	$	49,069	$	45,716	$	46,207	$	52,644	$	21,097	$	24,315
Interest expense on portion of rent expense
representative of interest		350		478		427		442		558		558		341		341
Total Fixed Charges	$	15,123	$	43,208	$	49,496	$	46,158	$	46,765	$	53,202	$	21,438	$	24,656
Earnings:
Income before provision for income taxes and
minority interest	$	150,727	$	296,635	$	170,380	$	141,634	$	216,568	$	210,131	$	106,896	$	103,678
Fixed charges		15,123		43,208		49,496		46,158		46,765		53,202		21,438		24,656
Total earnings	$	165,850	$	339,843	$	219,876	$	187,792	$	263,333	$	263,333	$	128,334	$	128,334
Ratio of earnings to fixed charges		11.0x		7.9x		4.4x		4.1x		5.6x		4.9x		6.0x		5.2x

(1) The ratio of earnings to fixed charges for the year ended December 31, 2004, and the six months ended June 30, 2005, have been adjusted on a proforma basis assuming the $350.0 million of 1.5% Notes we issued on May 9, 2005, were outstanding since January 1, 2004.