Ivax Acquires Zenith
Ivax Corporation has announced that it will acquire the US generic company Zenith Laboratories in a stock deal valued at around $600 million. The combined businesses will have pharmaceutical sales of around $570 million and will be a major force in the increasingly competitive generic drugs business.
The deal will increase the number of drugs in Ivax' generics pipeline, and add to its R&D capabilities, according to an Ivax company spokesperson. Zenith shareholders will receive 1.3 shares of Ivax common stock for each Zenith share. Zenith has 23 million shares outstanding and Ivax has 87 million.
Meantime, Ivax is providing Galena of the Czech Republic, in which it has a 60% stake (Marketletter August 1), with technology worth $6.6 million to enable it to increase its production and expand its product range, according to the Business News of the CTK news agency.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
Copyright © The Pharma Letter 2025 | Headless Content Management with Blaze