IVAX remains 'active'
has acquired ChemSource, a manufacturer of active pharmaceutical
ingredients based in Puerto Rico.
Pharmaceutical and veterinary product manufacturer IVAX corporation has acquired ChemSource, a manufacturer of active pharmaceutical ingredients based in Puerto Rico.
Purchased from Chemo Iberica, and Quimica Sintetica, ChemSource develops, manufactures and sells active pharmaceutical ingredients (API) for various pharmaceutical products, including products currently being sold or under development by IVAX.
"This acquisition represents an important expansion of our API manufacturing capabilities and furthers our goal of achieving vertical integration by providing us with additional capacity and expertise to manufacture the active ingredients utilised in pharmaceutical products," said Phillip Frost, chairman and chief executive officer of IVAX.
According to IVAX, the API products manufactured at the acquired facility complement those now manufactured at IVAX' facility in the Czech Republic.
Terms of the agreement were not disclosed.