-- Demonstrates AMRI's Commitment to Performance, Quality
and Customer Satisfaction
ALBANY, New York, Dec. 6, 2012 /PRNewswire/ -- AMRI (Nasdaq:
AMRI) today announced the extension of a commercial supply
relationship with GE Healthcare (NYSE: GE) for Aminobisamide
Hydrochloride (ABA). Under the terms of the agreement, AMRI will
supply ABA, an intermediate material used in diagnostic imaging
agents. This substantial contract commitment positions AMRI as a
strategic supplier to GE Healthcare.
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Production will continue at AMRI's large scale manufacturing
subsidiary located in Rensselaer,
N.Y. The new contract extends through December 31, 2016, and replaces the existing
supply contract between GE and AMRI that has been in effect since
2005.
"We are pleased to once again extend our long-term relationship
with GE Healthcare," said AMRI Chairman, CEO and President Thomas
E. D'Ambra, Ph.D. "The renewal of this relationship underscores the
confidence that premier global pharmaceutical and health care
companies have in AMRI's ability to meet their critical product
needs."
Dr. D'Ambra continued, "The ABA product relationship with GE
Healthcare has been an important one for AMRI since acquisition of
the Rensselaer plant in 2003 and
at this time is our largest commercial supply arrangement. We
continue to be pleased with the progress that we are making in our
Large Scale Manufacturing business segment, the largest component
of which is our Rensselaer site.
We are adding new customers and new products at this facility,
along with continuing the long term relationships, like GE
Healthcare, that have formed the basis of our revenue stream. The
extension of this key, long term agreement provides a consistent
and high quality revenue source for this business unit through
2016."
About AMRI
Albany Molecular Research, Inc. (AMRI) is a global contract
research and manufacturing organization offering customers fully
integrated drug discovery, development, and manufacturing services.
For over 21 years AMRI has demonstrated its adaptability as the
pharmaceutical and biotechnology industries have undergone
tremendous change in response to multiple challenges. This
experience, a track record of success and locations in the United States, Europe and Asia now provides our customers with
SMARTSOURCING™, a full range of value-added opportunities providing
customers informed decision-making, enhanced efficiency and more
successful outcomes at all stages of the pipeline. AMRI has also
successfully partnered R&D programs and is actively seeking to
out-license its remaining programs for further development.
AMRI Rensselaer
AMRI's 23-acre Rensselaer site is
located in New York State and
provides contract cGMP manufacturing of bulk active pharmaceuticals
and advanced intermediates for clinical phase scale-up requirements
up to and including full scale commercial manufacturing. The
facility, which hosts over 35 customer audits each year, maintains
an excellent U.S. Federal Drug Administration (FDA) quality
inspection record and is fully licensed by the U.S. Drug
Enforcement Administration (DEA) to produce Schedule I, II, III, IV
and V controlled substances. The site, which received its
SafeBridge Potent Compound Safety Certification in 2010, has a
state-of-art high-potency compound production facility that can
handle quantities from grams to 120 kgs. Combining a scientifically
strong staff with our highly experienced workforce allows the
Rensselaer site to deliver its
best to our customers. Currently, 26 Commercial Products are
routinely manufactured from 25 kg individual batches to 7 metric
ton annual campaigns.
Contacts
Investors – Michael Nolan, AMRI
Chief Financial Officer, +1-518-512-2261
Media – Gina Monari, AMRI
Communications, +1-518-512-2512