Exhibit 99(a)(11) IVAX Tender Offer for Laboratorio Chile Shares ________________________________________________ June 2001 Introduction . IVAX has presented an all cash tender offer to all shareholders of Laboratorio Chile S.A. . IVAX believes its offer is an excellent opportunity for shareholders, employees and the people of Chile . Portfolio, LabChile's largest shareholder has agreed to tender all of its shares to the offer. . We hope shareholders shall vote for the elimination of the 49.9% concentration limit and tender their shares to the offer IVAX CORPORATION . IVAX, headquartered in Miami, Florida, is engaged in the research, development, manufacture, and marketing of branded and brand equivalent pharmaceuticals throughout the world . Traded on AMEX (IVX) . Approximately 5,800 employees worldwide in 30 countries . Market cap = US$ 7.6 billion . Consolidated 2000 net revenues = US$ 793 million Worldwide operations [Graphic omitted.] IVAX' Business Focus Branded and brand equivalent pharmaceutical products with emphasis on: . Proprietary asthma products and pipeline -i.e. Easi-Breathe(R), Patented MDPI . Important brand equivalent products and pipeline -i.e. Paclitaxel, Clozapine . Proprietary pipeline IVAX Summary . IVAX is a strong, growing international pharmaceutical company . Over $900 million in cash and cash equivalents . Experienced and dedicated management teams and employees . Compliant with local laws and regulations; good corporate citizen Summary: tender offer terms . Open to all shareholders of Laboratorio Chile . Tender for 100% of outstanding shares . Purchase price of US$ 1.25 per share payable in cash, in Ch$ at the "Observado" exchange rate for the expiration date . Offer subject, among other conditions, to: -the amendment of the bylaws to eliminate the 49.9% ownership restriction -the receipt, by the day of the shareholders meeting, of tenders accounting for at least 67% of the total outstanding shares (211,720,000 shares) . Transaction will be settled off-Stock Exchange Bid vs. historic LabChile price IVAX Offer: Ch$ 763* [Graphic omitted.] Reference LabChile % Premium Price --------------------------------- 1Q2001 Avg Ch$ 553.84 37.8% 2000 Close 528.00 44.5% 2000 Avg 520.94 46.5% * Considering "Observado" rate as of May 31, 2001 of Ch$ 610.53 per US$ Transaction Timetable [Transaction Timetable appears here] .May 21: Press Release .May 31: Launch of the Offer .June 22: Shareholders Meeting .June 29: Expiration Date .July 2: Offer result announcement, acceptance for payment ("Aviso de Resultado") .July 5: Settlement Conclusion . IVAX offers all shareholders the opportunity to realize a substantial premium, as demonstrated in previous slides, for all of their Laboratorio Chile shares . In order for the transaction to succeed, shareholders must vote FOR the elimination of the 49.9% ownership restricition limit and tender their shares before the shareholders meeting by submiting the Form of Acceptance to Deutsche Securities C.B. IVAX