EXHIBIT 99.1



                              FOR IMMEDIATE RELEASE

                   B. BRAUN MELSUNGEN AG COMPLETES ACQUISITION
                      OF MCGAW, INC. FROM IVAX CORPORATION

         Miami, Florida -- June 25, 1997 -- IVAX Corporation (AMEX:IVX) today
announced that B. Braun Melsungen AG completed the acquisition of McGaw, Inc.
from IVAX. This announcement follows a May 30, 1997 news release announcing that
B. Braun had agreed to acquire McGaw from IVAX. McGaw develops, manufactures and
markets intravenous (IV) solutions and related products.

         B. Braun paid IVAX $320 million in cash at closing, subject to certain
post closing adjustments. Over a period of years, B. Braun will make additional
payments, up to a total of $80 million, contingent upon the combined operating
results of McGaw and B. Braun's principal U.S. operating subsidiary. IVAX will
also receive royalties and other payments based on McGaw's and B. Braun's
commercialization of the Duplex(TM) drug delivery system. The Duplex(TM) system,
presently under development, is a multi-compartment IV drug delivery system
designed for IV drugs that have limited stability after mixing.

         IVAX used a portion of the cash received at closing to pay off its
existing credit facility (which is being terminated) and concurrently recognized
an approximate $2.1 million pre-tax charge relating to the early extinguishment
of this debt.

         IVAX Corporation, headquartered in Miami Florida, is a holding company
with core subsidiaries engaged in the research, development, manufacture and
marketing of generic and branded pharmaceuticals.

         EXCEPT FOR THE HISTORICAL MATTERS CONTAINED HEREIN, STATEMENTS IN THIS
PRESS RELEASE ARE FORWARD LOOKING AND ARE MADE PURSUANT TO THE SAFE HARBOR
PROVISIONS OF THE SECURITIES LITIGATION REFORM ACT OF 1995. INVESTORS ARE
CAUTIONED THAT FORWARD LOOKING STATEMENTS INVOLVE RISKS AND UNCERTAINTIES WHICH
MAY AFFECT THE COMPANY'S BUSINESS AND PROSPECTS, INCLUDING THE RISK THAT IVAX
MAY NOT RECEIVE FUTURE PAYMENTS RELATING TO THE MCGAW SALE, AND CERTAIN
ECONOMIC, COMPETITIVE, GOVERNMENTAL, TECHNOLOGICAL AND OTHER FACTORS DISCUSSED
IN IVAX' FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.

                                                  CONTACT:


                                            Joseph C. Jones
                                            IVAX Vice President -
                                            Corporate Communications
                                            305-575-6042