SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) ~~May~~August 271, ~~2002~~ 2003

ADVANCED TOBACCO PRODUCTS, INC.

(Exact name of registrant as specified in its charter)

State of Texas 0-12984 74-2285214 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.)

~~(State~~16607 orBlanco ~~other~~Road, ~~jurisdiction~~ Suite 703 San Antonio, Texas ~~(Commission~~ 78232 (~~IRS~~Address of principal ~~Employer~~executive offices) (Zip Code)

of incorporation) File Number) Identification No.)

16607 Blanco Road, Suite 703

San Antonio, Texas 78232

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code (210) 408-7077

______________________________________________________________________________

(Former name or former address, if changed since last report.)

Item 57. ~~Other Events and Regulation FD Disclosure~~Exhibits.

~~Proposed~~ Exhibit ~~Merger with~~99.1 ~~IVAX~~Press ~~Corporation~~Release dated August 1, 2003 (see below)

OnItem ~~May 27, 2003, Advanced Tobacco Products, Inc~~12., ~~dba~~Results ~~, Advanced Therapeutic Products, Inc. announced that we had entered into a merger agreement with IVAX Corporation (AMEX: IVX) under which we will become a wholly owned subsidiary~~ of ~~IVAX. The~~Operation ~~merger~~and isFinancial ~~subject to the approval of a majority (in excess of 50%) of our shareholders~~Condition. ~~We will soon be filing a proxy statement for use at a special meeting of our shareholders, which we anticipate will be held during August 2003.~~

~~Under~~On ~~the~~August ~~terms~~1, ~~of the~~2003, ~~merger~~Registrant ~~agreement~~made ~~our~~a ~~shareholders~~public ~~will~~announcement ~~receive~~in the ~~number~~form of ~~shares~~a press ~~of IVAX~~release ~~common~~regarding ~~stock~~its ~~determined~~results ~~by multiplying the number~~ of ~~outstanding~~ ~~shares~~operations ~~of our common stock by $0.54~~ and ~~dividing the~~financial ~~result by the average closing price of a share of IVAX~~condition ~~common stock~~ for the 45nine-month ~~business~~period ~~days~~and ~~immediately preceding~~ the ~~closing~~ ofthree-month ~~the~~period ~~merger. The~~ending ~~number~~on ~~of shares of IVAX~~June ~~common stock~~30, ~~which~~2003. A ~~will~~copy beof ~~received~~such bypress ~~our~~release ~~shareholders,~~ is ~~subject~~ tofurnished ~~possible~~as ~~reduction if at the closing of the merger we~~an ~~have~~exhibit ~~less~~to ~~than~~this ~~$1,900,000~~Item in12 ~~cash, investments and net accounts receivable~~disclosure.

~~Background of the Merger~~SIGNATURES

~~In 1987, we sold patented~~ ~~nicotine~~Pursuant ~~technology, know how and related assets~~ to ~~what~~the ~~are~~requirement ~~now Pharmacia~~of ABthe ~~and~~Securities ~~Pharmacia~~Exchange &Act ~~Upjohn~~of ~~Company ("Pharmacia").~~1934, ~~Pharmacia~~the isRegistrant ~~now~~has aduly ~~subsidiary~~caused ofthis ~~Pfizer,~~Report ~~Inc.,~~to asbe ~~the~~signed ~~result~~on ~~of a~~its ~~merger~~behalf ~~with~~by ~~Pfizer~~the inundersigned ~~April~~hereunto ofduly ~~2003~~authorized.

~~The technology purchased~~Date: August from us by Pharmacia forms the basis of the Nicorette®/Nicotrol® Inhaler (the "Inhaler"). We sold our technology to Pharmacia in exchange for product payments of 3% of Pharmacia's net sales of the Inhaler. Since 19874, ~~product payments~~ ~~from Pharmacia have been the source of substantially all of our~~2003 ~~revenues.~~Advanced ~~Under~~Tobacco ~~the terms of our agreement with Pharmacia~~Products, ~~product payments can be terminated at any time in the event Pharmacia should determine for any reason to cease selling the Inhaler~~Inc.

~~The Inhaler was launched~~ ~~nationwide~~By: ~~in the United States as a prescription product in~~______________________________________ ~~1998~~ J. ~~Pharmacia~~ ~~has introduced the Inhaler primarily as an over-the-counter product in 28 other countries~~W. As ~~we announced in May of 2002~~Linehan, ~~before their acquisition by Pfizer, Pharmacia indicated to us that they had no plans to offer the Inhaler over-the-counter in the United States in the near term.~~President

~~Under the terms of our~~Exhibit ~~agreement, Inhaler product payments will probably cease in 2010 in the U~~99.~~S. and in 2011 in substantially all other countries. We are not aware of any plans or decisions by Pfizer to continue or to cease selling the Inhaler.~~1

~~The~~Advanced ~~revenues~~Therapeutic ~~we have~~Products, ~~received from Pharmacia have been sheltered from federal income~~Inc. ~~taxes~~About ~~payable~~377 ~~by us through the use of our net operating loss carry~~Words ~~forwards. After~~16607 ~~June~~Blanco ~~2003~~Road, ~~we will receive no substantial~~Suite ~~benefits~~703 Jim ~~from~~Linehan, ~~our net operating loss carry forwards~~Pres. ~~Paying~~ ~~ordinary~~San ~~corporate~~Antonio, ~~tax on our revenues will reduce the amounts we~~Texas ~~could~~78232 ATP (210) ~~otherwise~~408-7077 ~~provide~~* to(210) ~~our shareholders in~~479-6571 ~~dividends.~~FAX

~~Because~~FOR ~~of the concerns~~IMMEDIATE ~~discussed above, from time to time our Board of Directors has~~RELEASE sought more stable alternatives for our shareholders by seeking strategic alliances or combinations with other companies. In September 2000, we entered into a consulting services agreement with James Turner, one of our directors, under which Mr. Turner has sought possible business combinations, acquisitions or strategic alliances with a significant number of companies.

OnAugust ~~November~~ 1, ~~2000, we~~2003 ~~entered into an agreement with Pharmacia under which we were paid~~ $50,000 in exchange for granting Pharmacia an exclusive 90-day period to consider acquiring us. The duration of the 90 day exclusivity period was determined in order to provide Pharmacia with sufficient time to evaluate our dry powder technology as the basis for a second generation inhaler product. After several meetings during the 90 day exclusivity period, Pharmacia declined to offer or consider an offer to acquire us or our dry powder technology.

InATP ~~April of 2002, we again~~ANNOUNCES approached Pharmacia regarding the possibility of our acquisition by Pharmacia. Pharmacia responded several months later that, after additional consideration, Pharmacia had no interest in a further investment in the Inhaler through an acquisition of us.EARNINGS

AtSAN ~~the~~ANTONIO ~~March~~- 18Advanced Tobacco Products, ~~2003~~Inc., d/b/a Advanced Therapeutic Products, Inc. ~~meeting~~(“ATP”) of(OTC ~~our~~Bulletin Board: “AVTH”) today reported net income of ~~Directors~~$260,282 anon ~~IVAX~~revenues ~~letter~~ of ~~intent~~$561,424 ~~was~~for the ~~unanimously~~nine ~~accepted.~~month ~~This~~period ~~letter~~ending ofJune ~~intent~~30, ~~was~~2003, ~~subject~~as compared to ~~the~~net income ~~negotiation~~of ~~and~~$508,440 ~~execution~~on revenues of a$639,386 ~~definitive~~for ~~merger~~the nine month period ~~agreement~~ending June 30, 2002.

OnATP’s ~~May~~net ~~27,~~income ~~2003,~~for wethe ~~signed~~three ~~the~~month ~~merger~~period ~~agreement~~ending ~~after~~June ~~our~~30, ~~Board~~2003, ofwas ~~Directors~~$32,535 ~~reviewed~~on ~~the results~~revenues of $168,229 ~~our~~as ~~due~~compared ~~diligence~~to ~~review~~net income of ~~IVAX~~$233,963 ~~and~~on ~~approved~~revenues ~~the merger~~of ~~and~~$276,898 for the ~~merger~~three ~~agreement~~month period ending June 30, 2002.

~~IVAX~~Net income for the nine month period ending June 30, 2003, as compared to the nine month period ending June 30, 2002, has decreased due to a decrease in payments from Pharmacia and an increase in general and administrative expenses associated with ATP’s anticipated merger with a wholly-owned subsidiary of IVAX Corporation (“IVAX”).

~~IVAX~~As ~~Corporation~~previously ~~is a multinational pharmaceutical company that discovers~~announced, ~~develops, manufactures~~ATP ~~and markets branded and brand equivalent (generic)~~entered ~~pharmaceutical~~into ~~and~~merger ~~veterinary~~agreement ~~products~~with ~~in the U.S. and abroad. Headquartered in Miami, Florida,~~ IVAX ~~has~~under ~~operations~~which inATP ~~nearly~~will 30become a ~~countries~~wholly-owned ~~and~~subsidiary ~~its~~of ~~products are sold in more than 70 countries~~IVAX. The ~~IVAX~~ merger is ~~strategically~~subject ~~focused~~to ~~on product diversification and geographic~~the ~~expansion~~approval ~~in key pharmaceutical markets in North America; Western, Central, and Eastern Europe; Latin America; and Asia. IVAX has 8,000 employees worldwide,~~ of ~~whom~~the ~~more~~ATP ~~than 700 are involved in research and development~~shareholders. ~~The~~ATP ~~IVAX~~anticipates ~~portfolio~~that ~~of products~~a ~~currently~~special ~~includes~~meeting ~~prescription~~of ~~drugs~~ATP’s ~~for~~shareholders ~~allergies,~~to ~~coughs~~act ~~and colds;~~upon ~~intranasal steroid Nasarel® for treatment of allergic~~its ~~rhinitis;~~proposed ~~and~~merger anwith ~~asthma product, QVAR®, in~~ a ~~non~~wholly-~~ozone depleting~~owned ~~HFA~~subsidiary ~~propellant.~~of IVAX ~~also~~will ~~markets or is developing a~~occur ~~variety of asthma drugs~~ in ~~aerosol and non-aerosol formulations for delivery in its internally developed~~September, ~~patented Easi-Breathe™ breath activated inhaler and Airmax™ dry powder inhaler~~2003.

~~Reasons~~ATP sold patented nicotine technology, which forms the basis of the Nicotrol®/Nicorette® Inhaler, to Pharmacia in exchange for payments of 3% of Pharmacia’s net sales of the ~~Merger~~Nicotrol®/Nicorette® Inhaler. Pharmacia has recently become a subsidiary of Pfizer Inc.

InThe ~~the~~Nicotrol® ~~course~~Inhaler ofis ~~reaching~~sold as ~~its~~a ~~decision~~prescription toproduct ~~approve~~in the ~~merger~~U.S. ~~and~~The ~~the~~Nicorette® ~~merger~~Inhaler ~~agreement~~is sold, ~~our Board~~primarily ofas ~~Directors~~an ~~considered~~over-the-counter ~~and~~product, ~~reviewed~~in ~~with outside accounting~~Australia, ~~and~~Austria, ~~legal~~Belgium, ~~advisors~~Canada, aCzech ~~significant~~Republic, ~~amount~~Denmark, ~~of information and general~~Estonia, ~~factors~~Finland, ~~relevant~~France, toHong ~~the~~Kong, ~~merger~~Iceland, ~~including~~Ireland, ~~our~~Italy, ~~current financial~~Malaysia, ~~condition~~Malta, ~~current~~Mexico, ~~securities~~Netherlands, ~~market~~New ~~conditions~~Zealand, ~~and~~Norway, ~~our~~Portugal, ~~potential~~Russia, ~~for~~Singapore, ~~future~~South ~~growth~~Africa, inSweden, ~~revenues~~Switzerland, Taiwan and ~~earnings~~the United Kingdom.

~~Our~~The ~~Board~~Inhaler ofis ~~Directors~~a nicotine ~~considered~~replacement product designed to help control a ~~number~~smoker’s cravings offor ~~potentially~~cigarettes ~~positive~~while ~~factors~~providing ina ~~its~~key behavioral component ~~deliberations~~of smoking, ~~including:~~ the hand-to-mouth ritual.

~~-the~~Contact: ~~avoidance~~Jim asLinehan, aPresident ~~material factor~~ of ~~the probable termination of~~ ~~product~~Advanced ~~payments~~Therapeutic inProducts, ~~2010~~Inc., in(210) ~~the~~408-7077 ~~United States and 2011 in substantially all other countries~~ or ~~earlier termination in the event Pfizer should discontinue the sale of the Inhaler;~~

~~-the~~Fax ~~avoidance~~(210) ~~of the business and market risks and uncertainties associated with remaining primarily dependent on Inhaler product payments in the future;~~479-6571.

-the avoidance of the negative impact on our ability to pay dividends to our shareholders as the result of our impending loss of the tax benefits of our net operating loss carryforwards;

-the current and historical market prices of our common stock relative to the $0.54/per share merger consideration, including the fact that our stock price has seldom risen above $0.60/per share for more than two years;

-the belief that the potential value of the IVAX shares traded on the American Stock Exchange offers a greater opportunity for appreciation and shareholder value with meaningful liquidity and less risk and uncertainty than we currently provide our shareholders as an OTC Bulletin Board traded company with low trading volume;

-the stability and diversification afforded by the IVAX product line and operations as compared to our primary dependence upon Pfizer Inc.'s use of the nicotine inhaler technology;

-the belief by our Board of Directors that we obtained the highest price per share that IVAX is willing to pay;

-our assessment that a third party would not offer a higher value per share than IVAX; and

-the likelihood that the merger would be consummated, in light of the experience, reputation and financial capability of IVAX.

SIGNATURES

Pursuant to the requirement of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: June 13, 2003

ADVANCED TOBACCO PRODUCTS, INC.

By:______________________

J.W. Linehan, President

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