As filed with the Securities and Exchange Commission on January 30, 2006
                                                     Registration No.  033-88912
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                   Post-Effective Amendment No. 1 to Form S-8
                             REGISTRATION STATEMENT
                        UNDER THE SECURITIES ACT OF 1933

                                IVAX CORPORATION
             (Exact name of registrant as specified in its charter)

               Florida                                    65-0507804
   (State or other jurisdiction of                     (I.R.S. Employer
    incorporation or organization)                    Identification Number)

                             4400 Biscayne Boulevard
                              Miami, Florida 33137
                    (Address of Principal Executive Offices)

                                 --------------
                     IVAX Corporation Employee Savings Plan
                            (Full title of the plans)
                                 --------------

                                Richard S. Egosi
                       c/o Teva Pharmaceuticals USA, Inc.
                                 425 Privet Road
                           Horsham, Pennsylvania 19044
                                 (215) 293-6400
 (Name, address and telephone number, including area code, of agent for service)

                                 --------------
                                    Copies to
                              PETER H. JAKES, Esq.
                            JEFFREY S. HOCHMAN, Esq.
                          Willkie Farr & Gallagher LLP
                               787 Seventh Avenue
                               New York, NY 10019
                                 (212) 728-8000
                                 --------------




                                 --------------

                       DEREGISTRATION OF UNSOLD SECURITIES

                                 --------------

     All shares of common stock of IVAX Corporation, par value $0.10 per share
(the "Common Stock"), giving effect to the 3-for-2 stock split of the Common
Stock in February 2000, the 5-for-4 stock split of the Common Stock in May 2001
and the 5-for-4 stock split of the Common Stock in August 2004, previously
registered for sale to the public and remaining unsold under this Registration
Statement are hereby withdrawn from registration.




                                   SIGNATURES

     Pursuant to the requirements of the Securities Act, the Company certifies
that it has reasonable grounds to believe that it meets all of the requirements
for filing on Form S-8 and has duly caused this Post-Effective Amendment No. 1
to the Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Miami, State of Florida, January 30,
2006.


                                        IVAX CORPORATION

                                        By:  /s/ George S. Barrett
                                             -----------------------------------
                                             George S. Barrett
                                             President (Chief Executive Officer)


     Pursuant to the requirements of the Securities Act of 1933, as amended,
this Post-Effective Amendment No. 1 to the Registration Statement has been
signed by the following persons in the capacities and on the dates indicated.



                Name                                       Title(s)                               Date
                ----                                       --------                               ----
                                                                                   
/s/ George S. Barrett                   President (Chief Executive Officer) and Director  January 30, 2006
- ---------------------------------
George S. Barrett

/s/ Mark W. Durand                      Chief Financial Officer (Principal Financial      January 30, 2006
- ---------------------------------       Officer and Principal Accounting Officer)
Mark W. Durand

/s/  William S. Marth                                      Director                       January 30, 2006
- ---------------------------------
William S. Marth

/s/  Richard S. Egosi                                      Director                       January 30, 2006
- ---------------------------------
Richard S. Egosi