Teva Pharmaceutical Industries Limited (TEVA) to Invest $100M in Ivax Pharmaceuticals in Opava, Northern Moravia and Create 400 New Jobs in the Czech Republic
3/13/2008 9:05:52 AM
Prague Post -- Ivax Pharmaceuticals, a member of Israel’s Teva group, is expected to triple drug production at its facility in north Moravia in what is the largest Israeli investment in the Czech Republic.Ivax will see more than 1 billion Kc ($60.7 million) in investment from Teva, allowing a major expansion at Ivax’s base in Opava, said spokeswoman Karin Martínková.The deal’s announcement came March 10 while Prime Minister Mirek Topolánek was in Jerusalem to meet with his Israeli counterpart, Ehud Olmert. The prime ministers also agreed to establish a joint Czech-Israeli research and development fund, which will focus on biotechnology, pharmaceuticals and anti-terrorism weaponry.
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