AMRI Expands Manufacturing Capabilities In India; Adds Non-GMP Plant Capacity
ALBANY, N.Y. --(Business Wire)-- AMRI (NASDAQ: AMRI) today announced the expansion of multipurpose pilot plant facilities in Aurangabad, India providing non-GMP manufacturing services up to a 1,000 liter scale.
The multipurpose plant increases AMRI's ability to provide customized pilot scale materials for customers seeking solutions of the highest quality and value. In addition to being a stand-alone provider, the new facility will serve as an extension to AMRI's kilo lab capabilities in Hyderabad, which operates to 100 liters in scale. The plant was recently commissioned and its first production run is underway. Besides the creation of another customer product offering, certain plant production will be dedicated to making starting materials for AMRI's U.S. manufacturing facilities, significantly diminishing that plant's reliance on external resource providers.
"We are pleased to offer another high value alternative to our customers seeking the cost benefit of doing business in Asia, but retaining the quality they expect from a U.S. based-organization. Separately, we look forward to realizing cost savings at our U.S. manufacturing operations by becoming our own provider for some raw materials, eliminating third party costs in both money and lead time. This expansion further demonstrates AMRI's investment and focus in building a worldwide drug discovery and development platform," said Chairman, CEO and President Thomas E. D'Ambra, Ph.D.
About AMRI
Founded in 1991, Albany Molecular Research, Inc. (AMRI) provides scientific services, products and technologies focused on improving the quality of life. AMRI works on drug discovery and development projects and conducts manufacturing of active ingredients and pharmaceutical intermediates for many of the world's leading healthcare companies. As an additional value added service to its customers, the company is also investing in R&D in order to expand its contract services and to identify novel early stage drug candidates with the goal to outlicense to a strategic partner. With locations in the U.S., Europe, and Asia, AMRI provides customers with a wide range of services, technologies and cost models.
Forward-Looking Statements
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements may be identified by forward-looking words such as "may," "could," "should," "would," "will," "intend," "expect," "anticipate," "believe" and "continue" or similar words and include, but are not limited to, statements by AMRI's Chairman, CEO and President concerning the company's plans for its India facilities, anticipated future capacity at such facilities and the performance of the company's global chemistry platform. Readers should not place undue reliance on our forward-looking statements. The company's actual results may differ materially from such forward-looking statements as a result of numerous factors, some of which the company may not be able to predict and may not be within the company's control. Factors that could cause such differences include, but are not limited to the company's ability to attract and retain experienced scientists, trends in pharmaceutical and biotechnology companies outsourcing of chemical research and development, the company's ability to enforce its intellectual property and technology rights, the risks posed by international operations to the company, and the company's ability to effectively manage its growth as well as those factors discussed in the company's Annual Report on Form 10-K for the year ended December 31, 2007 as filed with the Securities and Exchange Commission on March 17, 2008 and the company's other SEC filings. The company does not undertake any duty to and does not intend to update any forward-looking statements contained in this press release after the date of this press release.
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