Business Services Industry
IVAX Consolidates Manufacturing Facilities In Argentina
Business Wire, Sept 3, 2002
Business Editors/Health & Medical Writers
MIAMI--(BUSINESS WIRE)--Sept. 3, 2002
IVAX Corporation (AMEX:IVX) (LSE:IVX.L) reported that as part of its strategy to maximize operating efficiency throughout its Latin American business, a state-of-the-art pharmaceutical manufacturing facility in Argentina has been purchased from GlaxoSmithKline (NYSE:GSK) on favorable terms to both companies. This facility will house IVAX' general offices and manufacturing function presently utilizing three separate facilities.
"This consolidation not only provides the greater efficiency associated with operating in a single facility, but will also facilitate our continuing to meet the highest worldwide standards for the products we produce in Argentina," said Phillip Frost, M.D., chairman and chief executive officer of IVAX Corporation.
IVAX Corporation, headquartered in Miami, Florida, discovers, develops, manufactures, and markets branded and brand equivalent (generic) pharmaceuticals and veterinary products in the U.S. and internationally.
Copies of this and other news releases may be obtained free of charge from IVAX' web site at http://www.ivax.com. Shareholders and prospective investors can register to automatically receive the company's press releases via email at http://www.ivax.com/ComNewsv2.htm.>
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