The $50 million investment was announced during a visit by Czech Prime Minister Mirek Topolanek to Teva's Jerusalem plant.
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) today announced that its Ivax Pharmaceuticals sro unit was investing $50 million in a new production plant in the Czech Republic.
Teva made announcement during a visit by Czech Prime Minister Mirek Topolanek to Teva's Jerusalem plant.
The news comes a week after Teva announced a €65 million investment in its Ivax plant in Ireland.
Construction of the new plant will begin this year at Ivax's Opava-Komarov campus. Teva noted that its Czech unit manufactures a broad range of drugs, including generic products, non-prescription drugs, active pharmaceutical ingredients, and plant extracts. The products are sold worldwide, including in the US. The Czech plant has 800 employees. 8% of Teva's 28,000 employees are located in Central and Eastern Europe.
Published by Globes [online], Israel business news - www.globes-online.com - on March 10, 2008
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