EXHIBIT 5
LAW OFFICES
STEARNS WEAVER MILLER WEISSLER ALHADEFF & SITTERSON, P.A.
MUSEUM TOWER
150 WEST FLAGLER STREET
MIAMI, FLORIDA 33130
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MIAMI (305) 789-3200 o BROWARD (954) 463-5440
FAX (305) 789-3395
WWW.STEARNSWEAVER.COM
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E. RICHARD ALHADEFF LISHA D. HOGUE GLENN M. RISSMAN OWEN S. FREED
LOUISE JACOWITZ ALLEN ALICE R. HUNEYCUTT ANDREW L. RODMAN SENIOR COUNSEL
STUART D. AMES RICHARD B. JACKSON KEITH E. ROUNSAVILLE
ALEXANDER ANGUEIRA SHARON LEE JOHNSON MIMI L. SALL THOMAS J. QUARLES
LAWRENCE J. BAILIN MICHAEL I. KEYES NICOLE S. SAYFIE OF COUNSEL
ANA T. BARNETT ROBERT T. KOFMAN RICHARD E. SCHATZ
CHRISTOPHER L. BARNETT CHAD K. LANG DAVID M. SEIFER DAVID M. SMITH
PATRICK A. BARRY TERRY M. LOVELL JOSE G. SEPULVEDA LAND USE CONSULTANT
SHAWN BAYNE JOY SPILLIS LUNDEEN JAY B. SHAPIRO
SUSAN FLEMING BENNETT GEOFFREY MacDONALD MARTIN S. SIMKOVIC
LISA K. BERG MONA E. MARKUS CURTIS H. SITTERSON TAMPA OFFICE
MARK J. BERNET BRIAN J. McDONOUGH MARK D. SOLOV SUITE 2200
HANS C. BEYER ANTONIO R. MENENDEZ EUGENE E. STEARNS SUNTRUST FINANCIAL CENTRE
RICHARD I. BLINDERMAN FRANCISCO J. MENENDEZ THOMAS T. STEELE 401 EAST JACKSON STREET
MATTHEW W. BUTTRICK ALISON W. MILLER BRADFORD SWING TAMPA, FLORIDA 33602
JENNIFER STEARNS BUTTRICK VICKI LYNN MONROE SUSAN J. TOEPFER ----------------
PETER L. DESIDERIO HAROLD D. MOOREFIELD, JR. ANNETTE TORRES (813) 223-4800
MARK P. DIKEMAN JIMMY L. MORALES DENNIS R. TURNER
DREW M. DILLWORTH JOHN N. MURATIDES RONALD L. WEAVER
DINO A. DOYLE JOHN K. OLSON ROBERT I. WEISSLER FORT LAUDERDALE OFFICE
SHARON QUINN DIXON JEFFREY A. NORMAN PATRICIA G. WELLES SUITE 1900
ALAN H. FEIN KARA E. PLUNKETT MARTIN B. WOODS 200 EAST BROWARD BOULEVARD
ANGELO M. FILIPPI DAVID C. POLLACK FORT LAUDERDALE, FLORIDA 33301
ROBERT E. GALLAGHER, JR. DARRIN J. QUAM ----------------
CHAVA E. GENET JOHN M. RAWICZ (954) 462-9500
PATRICIA K. GREEN PATRICIA A. REDMOND
JOSEPH K. HALL ELIZABETH G. RICE
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December 6, 2000
Phillip Frost, M.D.
Chief Executive Officer
IVAX Corporation
4400 Biscayne Boulevard
Miami, Florida 33137
Re: IVAX Corporation - Offering of 15,000,000 shares of Common
Stock, par value $0.10 per share (the "Common Stock")
Dear Dr. Frost:
As counsel to IVAX Corporation, a Florida corporation ("IVAX"), we have
examined the Articles of Incorporation and Amended and Restated Bylaws of IVAX,
as well as such other documents and proceedings as we have considered necessary
for the purposes of this opinion. We have also examined and are familiar with
the proceedings taken by IVAX to authorize the issuance of up to 15,000,000
shares of Common Stock issuable in connection with IVAX' acquisition of other
businesses, assets and securities. In addition, we have examined a copy of IVAX'
Registration Statement on Form S-4, pursuant to which the offer and sale of the
Common Stock will be registered under the Securities Act of 1933, as amended.
In rendering this opinion we have assumed, without independent
investigation: (i) the authenticity of all documents submitted to us as
originals; (ii) the conformity to original documents of all documents submitted
to us as certified or photostatic copies; (iii) the genuineness of all
signatures; (iv) that any acquisition involving any issuance of any of the
Common Stock will be duly and validly authorized by all necessary corporate
action on the part of IVAX; and (v) that any Common Stock issued by IVAX will be
issued only in compliance with the resolutions of the Board of Directors of
Shareholders of IVAX authorizing the sale and, in any event, only against the
receipt by IVAX of consideration having a value at least equal to the par value
of the Common Stock so issued. In addition, as to questions of material fact to
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the opinions expressed herein, we have relied upon such certificates of public
officials, corporate agents and officers of IVAX and such other certificates as
we deemed relevant.
Based upon the foregoing, and having regard to legal considerations
which we deem relevant, we are of the opinion that: following the issuance of
the Common Stock in accordance with the terms of the subject acquisition with
the terms of the Common Stock will be validly issued, fully paid and
non-assessable.
In addition, we hereby consent to the use of our opinions included
herein and to all references to this firm under the heading "Legal Matters" in
the Prospectus included in IVAX' Registration Statement on Form S-4, pursuant to
which the Common Stock will be registered under the Securities Act of 1933, as
amended.
Very truly yours,
STEARNS WEAVER MILLER WEISSLER ALHADEFF &
SITTERSON, P.A.
