IVAX UK Plant Receives $6 Million Grant.Business Editors/Health/Medical Writers MIAMI--(BUSINESS WIRE)--July 3, 2003 IVAX Corporation IVAX Corporation was a United States public corporation focused on manufacturing and distributing generic pharmaceutical products. Ivax was acquired by the Israeli company Teva Pharmaceutical Industries in January 2006. External links
See: American Stock Exchange :IVX) (LSE LSE - Language Sensitive Editor :IVX.L) announced today that its subsidiary, IVAX IVAX Industrial Vax (Dec Computer) Pharmaceuticals UK, has received a $6 million grant to complete the construction of a $41 million manufacturing plant at Preston Brook in Cheshire, United Kingdom. The North West Development Agency's Cheshire Development Fund provided $2.8 million of the grant, and the Regional Selective Assistance, $3.3 million. Construction of the new facility, which will greatly increase IVAX' manufacturing for its Steri-Neb(TM), injectable in·ject·a·ble adj. Capable of being injected. Used of a drug. n. A drug or medicine that can be injected. , and ophthalmic products, is nearing completion. Because of its proximity to its present facility in nearby Runcorn - which will be closed - employees can transfer into the new plant. Steri-Nebs are IVAX' patented nebules containing medications used for nebulizers (devices used to change liquid medications to a mist form for inhalation) to treat asthma. Nebulizers are useful for people who have difficulty using traditional inhalers - in particular, elderly, young and disabled patients. The incidence of asthma has increased over the past 20 years for all age groups, children under five being the hardest hit. Worldwide, the cost of treating asthma patients is estimated to have risen to $16 billion. Steve Forrester-Coles, site director at IVAX Pharmaceuticals U.K., stated, "We've outgrown our two sites in Runcorn due to the rapid success of our products. It's a significant investment for the Company and a statement of confidence in its people and products. The support provided through NWDA NWDA North West Development Agency (England) NWDA Northwest Digital Archives NWDA National Water Development Agency (India) NWDA National Wholesale Druggists Association and RSA (1) (Rural Service Area) See MSA. (2) (Rivest-Shamir-Adleman) A highly secure cryptography method by RSA Security, Inc., Bedford, MA (www.rsa.com), a division of EMC Corporation since 2006. It uses a two-part key. is pivotal to the success of the whole expansion project and will secure the long term success of the business, safeguarding existing jobs and creating new opportunities." IVAX Pharmaceuticals UK, formerly Norton Healthcare Limited, is now one of the UK's top ten pharmaceutical companies. 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' website at http://www.ivax.com. |
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