Situated on a 14-acre parcel, the facility was operational through the end of '02. It is licensed by the Irish Medicines Board and is approved for the manufacture and distribution of pharma products in Ireland and the European Union.
In a conference call Thursday, company chairman Barrie Levitt said Taro paid "less than $6.5 million" for the campus and that the "government of Ireland voted to provide us with significant financial support" for the endeavor.
"This project allows us to diversify our manufacturing base, and provides us with a research and manufacturing center within the European Union," Levitt noted. "Roscrea is an integral part of our strategy of expansion into Europe. Taro established a marketing presence in the UK in 1999. This acquisition provides Taro with an operating and research base in Europe."
Taro is a multinational pharmaceutical company that focuses on the discovery, development, manufacturing and marketing of healthcare products.
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