TEVA SIGNS PACT TO BUY HONEYWELL PHARMACEUTICAL IN ITALY.Teva Pharmaceutical Industries Teva Pharmaceutical Industries Ltd. (Hebrew: טבע תעשיות פרמצבטיות בע"מ), NASDAQ: TEVA is an international pharmaceutical company headquartered in Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :TEVA), Jerusalem, has signed an agreement with Honeywell International Inc. to acquire Honeywell Pharmaceutical Fine Chemicals S.r.l. (HPFC HPFC High Performance Functional Computing HPFC Harry Potter Fan Club HPFC Hourly Price Forward Curve HPFC Hybrid Power Flow Controller HPFC High Performance Fuel Cell S.r.l.), one of its Italian subsidiaries. The cash transaction is expected to be completed soon, subject to obtaining the required approvals. HPFC S.r.l., a profitable producer of active pharmaceutical ingredients (API), had total sales in 2001 of approximately $55 million. Teva has been a customer of HPFC's main product segments including CNS See Continuous net settlement. CNS See continuous net settlement (CNS). and anti-inflammatory products. The company has two FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approved manufacturing facilities and a sales office in Northern Italy and employs approximately 200 persons. These facilities will be integrated with Teva's two existing API facilities in the area. Teva currently manufacturers API products in Israel, Italy, Hungary and the U.S. Israel Makov, Teva's president & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated: "This transaction will broaden our API product line and demonstrates our continued commitment to better serving our customers worldwide. The acquisition fits very well with our API activity which provides strategic depth to our overall generic business and further enhances Teva's global leadership in generic pharmaceuticals." Teva Pharmaceutical Industries Ltd., headquartered in Israel, is among the top 35 pharmaceutical companies and among the largest generic pharmaceutical companies in the world. Over 80% of Teva's sales are in North America and Europe. The company develops, manufactures and markets generic and innovative human pharmaceuticals and active pharmaceutical ingredients. For more information, call 215/591-8800 or visit http://www.tevapharm.com. |
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