TEVA ISSUES STATEMENT REGARDING OUTSTANDING IVAX CONVERTIBLE NOTES

Teva Pharmaceutical Industries Ltd. issued the following statement regarding the outstanding 1.5% Convertible Senior Notes due 2025 of Ivax Corporation, in connection with Teva's pending acquisition of Ivax. Although it has not made a final decision, and will not do so until following the closing of the acquisition in accordance with the terms of the applicable indenture, Teva does not expect to elect the "public acquirer fundamental change" option with respect to such Notes.
Genetic Engineering News