Draxis to buy Ivax manufacturing site

April 1, 1998

Draxis Health has entered into a memorandum of agreement with Ivax to acquire that firm's Kirkland, Quebec, pharmaceutical manufacturing facility. The 238,000-sq-ft facility will serve as the permanent site for Draxis Health's radiopharmaceutical

Draxis Health has entered into a memorandum of agreement with Ivax to acquire that firm's Kirkland, Quebec, pharmaceutical manufacturing facility. The 238,000-sq-ft facility will serve as the permanent site for Draxis Health's radiopharmaceutical subsidiary, Draximage, which announced plans for growth in February (SCAN 2/18/98).

The facility, whose sterile manufacturing department produces prescription pharmaceuticals for the U.S. and Canadian marketplace, is also expected to assume manufacturing responsibilities for the Mississauga, Ontario-based company's SpectroPharm Dermatology product line, as well as Anipryl, the firm's veterinary drug that was recently licensed to Pfizer Animal Health. The acquisition of the facility was expected to close in late March.