Embassy Events 2004

First American Firm Listed on Warsaw Stock Exchange

10 December 2004

IVAX CEO Dr. Phillip Frost (left) and WSE Board Member Andrzej Supocko ring the market bell.

IVAX became the first American company to qualify for listing on the Warsaw Stock Exchange on December 10.

IVAX, which makes generic drugs and veterinary products in the U.S., acquired a controlling stake in a Polish generic drug maker, Polfa Kutno, in June.

At the listing ceremony, IVAX’s CEO, Dr. Phillip Frost, noted that his company had made an initial investment in Poland more than ten years ago.

Based on the company’s positive experience with this first investment, IVAX is looking at opportunities to expand its business links in Poland.

Ambassador Ashe attended the ceremony, and congratulated IVAX on being the first listed American company on the WSE.

Ambassador Ashe noted this is an important vote of confidence in the prospects for the Warsaw Exchange, and expected other American companies would follow IVAX’s lead.

Ambassador Ashe also noted this is an important signal of the potential for bilateral commercial ties to grow.

IVAX CEO Dr. Phillip Frost (left) and WSE Board Member Andrzej Supocko ring the market bell	IVAX CEO Dr. Phillip Frost (left) and WSE Board Member Andrzej Supocko display trading certificate	IVAX CEO Dr. Phillip Frost addresses the audience at the WSE	Amb. Ashe (second from right) celebrates listing with IVAX and Polfa Kutno


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