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Meridian, Idaho based RxElite buys FineTech of Haifa, Israel

March 20, 2008/

RxElite Inc. http://www.rxelite.com/ , a Meridian-based manufacturer of specialty generic drugs, said in a March 20 filing with the U.S. Securities & Exchange Commission that it completed its $6.2 million acquisition of FineTech Laboratories Ltd., Haifa, Israel. The new entity will operate as a wholly owned subsidiary of RxElite under the name FineTech Pharmaceutical Inc. RxElite said in a recent release that FineTech founder Arie Gutman will lead a team of 25 scientists.

by Brad Carlson

Full Story: http://www.idahobusiness.net/archive.htm/2008/03/20/RxElite-buys-FineTech

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