SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
HSIAO JANE PH D
(Last) (First) (Middle)
4400 BISCAYNE BLVD
(Street)
MIAMI FL 33137
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
IVAX CORP [ IVX ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Vice Chairman and CTO
3. Date of Earliest Transaction (Month/Day/Year)
01/26/2006
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, $.10 Par Value Per Share 01/26/2006 D 4,237,397 ( 1 ) D ( 1 ) 0 D
Common Stock, $.10 Par Value Per Share 01/26/2006 D 629,593 ( 2 ) D ( 2 ) 0 I By Trust A
Common Stock, $.10 Par Value Per Share 01/26/2006 D 1,664,822 ( 3 ) D ( 3 ) 0 I By Trust B
Common Stock, $.10 Par Value Per Share 01/26/2006 D 657,056 ( 4 ) D ( 4 ) 0 I HSU Investments, Inc.
Common Stock, $.10 Par Value Per Share 01/26/2006 D 4,989 ( 5 ) D ( 5 ) 0 I 401(k) Plan
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Righ to Buy) $11.7 01/26/2006 D 585,938 ( 6 ) 01/12/2010 Common Stock 585,938 $0 0 D
Employee Stock Option (Righ to Buy) $23.04 01/26/2006 D 585,938 ( 7 ) 01/23/2011 Common Stock 585,938 $0 0 D
Employee Stock Option (Righ to Buy) $15.43 01/26/2006 D 406,250 ( 8 ) 01/21/2012 Common Stock 406,250 $0 0 D
Employee Stock Option (Righ to Buy) $8.79 01/26/2006 D 275,000 ( 9 ) 03/05/2014 Common Stock 275,000 $0 0 D
Employee Stock Option (Righ to Buy) $18.4 01/26/2006 D 125,000 ( 10 ) 03/14/2014 Common Stock 125,000 $0 0 D
Employee Stock Option (Righ to Buy) $18.4 01/26/2006 D 275,000 ( 11 ) 03/14/2014 Common Stock 275,000 $0 0 D
Employee Stock Option (Righ to Buy) $15.93 01/26/2006 D 280,000 ( 12 ) 02/22/2010 Common Stock 380,000 $0 0 D
Explanation of Responses:
1. Disposed of pursuant to merger agreement between Issuer and Teva Pharmaceutical Industries Ltd. in exchange for 1,794,749 shares of Teva Common Stock, having a market value of $40.63 per share on the effective date of the merger and cash in the amount of $55,086,161 subject to pro-ration.
2. Held in the Charles Hsiao Family Irrevocable Trust - A, of which Dr. Hsiao is Trustee. Disposed of pursuant to merger agreement with Teva Pharmaceutical Industries Ltd. in exchange for 266,664 shares of Teva Common Stock, having a market value of $40.63 per share on the effective date of the merger and cash in the amount of $8,184,709 subject to pro-ration.
3. Held in the Charles Hsiao Family Irrevocable Trust - B, of which Dr. Hsiao is Trustee. Disposed of pursuant to merger agreement with Teva Pharmaceutical Industries Ltd. in exchange for 705,135 shares of Teva Common Stock, having a market value of $40.63 per share on the effective date of the merger and cash in the amount of $21,642,686 subject to pro-ration.
4. Held by HSU Investments Limited, of which Dr. Hsiao is the sole limited partner and the sole shareholder of its general partner HSU Investments, Inc. Disposed of pursuant to merger agreement between Issuer and Teva Pharmaceutical Industries Ltd. in exchange for 278,296 shares of Teva Common Stock, having a market value of $40.63 per share on the effective date of the merger and cash in the amount of $8,541,728 subject to pro-ration.
5. Held in 401(k) Plan. Disposed of pursuant to merger agreement between Issuer and Teva Pharmaceutical Industries Ltd. in exchange for 2,113 shares of Teva Common Stock, having a market value of $40.63 per share on the effective date of the merger and cash in the amount of $64,857 subject to pro-ration.
6. This option, which provided for vesting in four equal annual installments beginning January13, 2000, was assumed by Teva in the merger and replaced with an option to purchase 496,348 shares of Teva Common Stock for $13.81 per share.
7. This option, which provided for vesting in four equal annual installments beginning January 24, 2001, was assumed by Teva in the merger and replaced with an option to purchase 496,348 shares of Teva Common Stock for $27.20 per share.
8. This option, which provided for vesting in four equal annual installments beginning January 22, 2002, was assumed by Teva in the merger and replaced with an option to purchase 344,134 shares of Teva Common Stock for $18.22 per share.
9. This option, which provided for vesting in four equal annual installments beginning March 6, 2003, was assumed by Teva in the merger and replaced with an option to purchase 232,952 shares of Teva Common Stock for $10.38 per share.
10. This option, which provided for vesting in four equal annual installments beginning March 15, 2004, was assumed by Teva in the merger and replaced with an option to purchase 105,887 shares of Teva Common Stock for $21.72 per share.
11. This option, which provided for vesting in four equal annual installments beginning March 15, 2004, was assumed by Teva in the merger and repalced with an option to purchase 232,952 shares of Teva Common Stock for $21.72 per share.
12. This option, which provided for vesting in four equal annual installments beginning February 23, 2005, was assumed by Teva in the merger and replaced with an option to purchase 321,898 shares of Teva Common Stock for $18.81 per share.
/s/ Jane Hsiao, Ph.D. 01/26/2006
** Signature of Reporting Person Date
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