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Hyderabad, Andhra Pradesh, India
AMRI (NASDAQ: AMRI) announced today the opening of its new 5,000 square meter (50,000 sq. ft.) research and development centre at the Shapoorji Pallonji Biotech Park in Hyderabad, India.
The new R&D centre, located near AMRI's existing chemistry facilities in Hyderabad in the ICICI Knowledge Park, will provide additional space for AMRI's laboratory-scale Indian operations. The new facility includes laboratories for conducting early stage research such as custom chemical synthesis and analytical chemistry. Additional scale up laboratories for preparing both preclinical and clinical trial supply active ingredients are expected to open later this year and 2008, respectively. Those larger laboratories will be used to develop efficient methods to produce active pharmaceutical ingredients and intermediates. The new facility also is equipped with extensive environmental controls and a state-of-the-art wastewater treatment unit. AMRI has invested approximately U.S. $8 million in construction and equipment.
During this first phase of expansion, the new R&D centre will add approximately 100 employees to AMRI's operations in the ICICI Knowledge Park, which currently has 35 scientists. Additionally, infrastructure has been added at the new site to allow a second facility to be added in the future, which would more than double employee headcount. Rajesh Shenoy, Ph.D., director of AMRI's Hyderabad operations, will oversee these facilities.
"In addition to expanding our capabilities in India, this new state-of-the-art research facility increases our capacity to provide customers with a flexible range of drug discovery and development services out of Asia--all with the same quality they have come to expect from AMRI around the world," said Chairman, CEO and President Thomas E. D'Ambra, Ph.D. "Moreover, as we increase our presence in Asia, AMRI is proud to be contributing to improving work practices for employee opportunities within our industry, as well as setting a high standard and positive example of environmental stewardship."
The opening of the new Hyderabad facility marks another milestone in the company's global expansion. In July, AMRI completed the acquisition of two pharmaceutical manufacturing sites, along with additional land for expansion, in Aurangabad and Navi Mumbai, India.
"We look forward to achieving synergies between these new development laboratories and our large scale manufacturing facilities," added D'Ambra.
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. A separate, standalone R&D division of the company is also developing technology that it intends to partner and outlicense; something viewed as a higher value added service to the many companies AMRI is working with. With locations in the U.S., Europe, and Asia, AMRI provides customers with a wide range of services, technologies and cost models.
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. 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, 2006 as filed with the Securities and Exchange Commission on March 15, 2007 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.
Source: Business Wire (Business Wire India)
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