Costa Mesa-based Valeant Pharmaceuticals International said Thursday it’s sold its plant in Warsaw, Poland, to Strides Polska SP.
Valeant didn’t disclose the sales price.
The drug maker sold the plant as part of its plan to cut costs of goods sold by 20% to 25% by 2008. Last year, Valeant’s cost of goods sold was 31%.
Valeant has sold other East European operations during the past few years as part of its move away from the company’s past as ICN Pharmaceuticals Inc.
Company founder and former chief executive Milan Panic expanded into Russia, Poland and his native Serbia during the 1990s.
In 2003, Valeant sold its troubled Russian operations to Millhouse Capital in a deal that Vedomosti, a Russian business publication, pegged at $55 million.
The drug maker then sold a raw material and manufacturing operation in the Czech Republic.
Valeant also once had a heavy presence in what was Yugoslavia through a joint venture with the government.
In 1999, the Serbian government under deceased dictator Slobodan Milosevic seized the operation in a move viewed as political retribution for Panic challenging Milosevic for Serbia’s presidency in 1992.
