Search
 

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

TIPPERARY, IRELAND-The New York-based pharma firm's Irish affiliate will acquire the manufacturing, lab, office and warehouse out of liquidation for less than $6.5 million. The purchase marks a major step toward the company's planned European expansion

By Glen Thompson | Updated on February 21, 2003

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.