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News : Irish Last Updated: Apr 24, 2009 - 5:31:05 PM


IVAX Pharmaceuticals - unit of Israeli group Teva - to add 165 jobs to existing Irish payroll of 650 at Waterford
By Finfacts Team
Mar 3, 2008 - 12:12:56 PM

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Eli Hurvitz, Chairman of the Board of Teva Pharmaceutical Industries, Ltd., Israel Makov, President and CEO, Dan S. Suesskind CFO, and Shlomo Yanai, designated President and CEO, preside over the Market Open Wednesday February 21, 2007 at NASDAQ's MarketSite in New York City.

IVAX Pharmaceuticals Ireland, a subsidiary of the Israeli Teva Pharmaceutical Industries Ltd,  (NASDAQ: TEVA) announced today that it has commenced an investment programme totalling €65 million in its facility in Waterford, Ireland, and that it is creating an additional 165 new jobs over five years. Teva has three pharmaceutical plants and a research and development facility on its Waterford campus. The expansion has been grant-aided by Ireland’s inward investment promotion agency, IDA Ireland. 

The investment by the parent company will allow its Waterford-based operation to more than double both its inhaler and tablet manufacturing capacity and will confirm Waterford as the primary strategic location within the Teva Group for the manufacture of products for the relief and prevention of asthma.

 The products made in Waterford are exported world-wide and the new investment will enable the Irish facility to continue as an important  supplier of tablets and capsules for the US market, according to Tom McCabe, General Manager of the Waterford operation, which currently employs 650 people.

 “The investment is necessary to meet increasing demand for both solid dosage forms and respiratory products such as ProAirTM particularly in the US,” said McCabe.  “We are expanding into a neighbouring building we purchased a number of years ago, so the project is akin to building a new factory”

The Waterford facilities, when expanded, will extend to almost 500,000 square feet. Teva Pharmaceutical Industries Ltd. acquired the IVAX Waterford business as part of its acquisition of the IVAX Corporation in January 2006.

In addition to its three manufacturing plants, the Waterford campus also includes a research and development facility with some 70 staff, most of whom work on the development of respiratory products for the treatment of respiratory diseases. 


The Minister for Enterprise Trade and Employment, Micheál Martin TD, said he recognised and welcomed Teva Pharmaceuticals commitment to its Irish subsidiary, local workforce and the pharmaceutical sector in Ireland.

“The decision to make this investment owes a great deal to the strong performance of the site to date,” said Martin. “The expertise and commitment of the management and staff at this facility singled out IVAX as the prime location for this investment.

The site’s research and development team, for example, was responsible for developing new device technologies for metered dose inhalers which have been very well received by the patients in the markets it serves.”

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