Taro to Buy 124,000-SF Mixed-Use Facility

COUNTY TIPPERARY, IRELAND-The Irish affiliate of a New York City-based pharma firm is under contract to purchase a 124,000-sf mixed-use complex in the central Ireland town of Roscrea. Taro Pharmaceuticals Ireland Ltd. will acquire the manufacturing, laboratory, office and warehouse space out of bankruptcy liquidation through the Official Liquidator appointed by the High Court of Ireland.

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.