IVAX/Knoll Plan Europe Generics JV

BASF's pharmaceutical subsidiary Knoll AG of Germany and US-based IVAX Corporation have executed a letter of intent expressing their mutual interest in establishing a joint venture for the manufacture and marketing of generic pharmaceutical products in Europe. Initial efforts will focus on the two companies marketing generic drugs by a jointly-held company in Germany.

Knoll says its contribution to the JV will be a variety of products, including a recently-acquired product portfolio which consists of more than 80 generic products already licensed in Germany.

For its part, as well as rights to other products, IVAX will contribute to the JV rights to approximately 150 generic products currently made and marketed by its Norton Healthcare subsidiary, which it claims is the largest manufacturer and marketer of generic drugs in the UK.