Pharma Industry
Industry: Email Alert RSS FeedIvax Gets Venezuelan Pharma Company.(Brief Article)
Chemical Market Reporter, June, 2000
IVAX CORPORATION bought Caracas, Venezuela-based Laboratorios Elmor SA, which manufactures, markets and distributes a broad range of pharmaceutical products. Laboratorios Elmor is the second largest Venezuelan pharmaceutical company in terms of sales and one of the fastest growing, with revenues exceeding $40 million in 1999.
The acquisition will be immediately accretive to Ivax's per share earnings. Terms of the deal were not disclosed. The purchase expands Ivax's presence in South America, where it already has operations in Argentina, Uruguay and Peru.
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