Ivax Pharmaceutical
Ivax
The IVAX Corporation is a multinational
company engaged in the research, development, manufacturing and marketing of
branded and generic pharmaceuticals and veterinary products in the U.S. and
internationally. IVAX is headquartered in Miami, Florida, has direct operations
in 39 countries, and markets products in more than 80 countries around the
globe.
Teva Completes Acquisition of IVAX
Jerusalem, Israel, January 26, 2006
– Teva Pharmaceutical Industries Ltd.
(Nasdaq: TEVA) announced today that it has completed its acquisition of IVAX
Corporation (AMEX: IVX). The combined company, which will operate under the
Teva name, will have a presence in over 60 countries and will employ
approximately 26,000 people. The two companies generated over $7 billion in
revenues for the twelve months ending September 30, 2005. |
Ivax - A global pharmaceutical company
IVAX Pharmaceuticals UK develops,
manufacturers and markets branded and brand-equivalent prescription and OTC
products in the U.K., Ireland and other countries.
IVAX sells branded
pharmaceutical products in the U.S. and internationally through our team of
approximately 2,000 sales and marketing professionals around the world. In
2002, approximately 44 percent of their $1.2 billion in revenues was from
branded products.
Among our most significant proprietary branded
products are those to treat respiratory disorders, which is a key element of
the IVAX strategy. IVAX intends to continue to concentrate on developing this
core competency in respiratory products.
IVAX continues to add new
products internationally. IVAX have approximately 250 applications for approval
of generic drugs pending with health agencies around the world and received
more than 70 generic drug approvals worldwide in 2002. During 2002, IVAX
expanded their presence in Europe by acquiring the generic business of Merck
& Co., Inc. in France. IVAX decided to acquire this small business for a
moderate price as a foundation to grow their operations in France. IVAX have
hired a top management team that they believe can quickly make this business a
market leader in France. IVAX believe that demand for generic drugs is going to
increase worldwide and that IVAX's global subsidiaries will position for
growth.
IVAX - research and development
IVAX has one of the strongest, most diverse
and most valuable pipelines of promising drug candidates in the industry. IVAX
have many new compounds under research at their IVAX Drug Research Institute
subsidiary in Hungary. During 2002, IVAX spent $76 million on research and
development. The IVAX pipeline includes drug candidates that are currently
undergoing clinical trials in some of the world’s most important
therapeutic categories: respiratory disorders, oncology, central nervous system
disorders, gastrointestinal disease, urological disorders and endo-crinologic
disorders.
Further information:
www.ivax.com |
