The cuts in Waterford Crystal may grab the headlines, but one Waterford firm that is expanding is IVAX Pharmaceuticals Ireland (a subsidiary of Teva Pharmaceutical Industries), which announced 165 new jobs this seek.
Teva is an Israeli owned company that took over IVAX, prior to that it was known as Norton, which may be a name more familiar to our readers.
They make prescription drugs that are own brand type and where the patents have expired. This is a very lucrative business and is world wide.
Waterford is a centre of respiratory products. We are fortunate that Teva has a progressive approach to Waterford and is prepared to expand operations here, adding jobs rather than contracting. It shows business confidence in the area.
We understand that they have brought very innovative work practices into the workplace. With so much concern over manufacturing, it is positive to hear of such progress, full marks to Teva and its management team.
The company started as a wholesale drug retail firm back in 1901 in Jerusalem.