19 August 1998 16:19 [Source: ICIS news]
LONDON (CNI)--Zeneca said Wednesday its subsidiary IPR Pharmaceuticals has bought a former Chiron Corp plant in Canovanas, Puerto Rico.
The acquisition was part of a plan by IPR to invest around £60m ($98m) in new facilities on the island, Zeneca said. It already has two plants in Carolina and Guayama.
Zeneca Pharmaceuticals manufacturing director Barrie Thorpe, who is IPR chairman, said the expansion programme would be divided about equally between the new Canovanas plant and the Guayama site.
The Canovanas plant should be operational by late 1999. The Guayama plant is undergoing a £10m expansion which should be completed by the end of this year. A further expansion will begin early next year and should be completed by the end of 2001.
Zeneca's prostate cancer treatment Casodex and the migraine treatment Zomig are to be manufactured and packaged by IPR.
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