AMRI (NASDAQ: AMRI) announced today the following changes to its India
operations and leadership team, supporting the establishment of an
integrated offering of chemical development and manufacturing services
as part of an effort to increase efficiencies of AMRI’s global
operations and to reduce costs.
Promoted to the leadership role for all AMRI operations in India is
Rajesh Shenoy, Ph.D. as managing director, India operations. Previously
director for the company’s site in Hyderabad, India, Dr. Shenoy’s role
has expanded to include large scale commercial manufacturing operations
in Aurangabad, India. He assumed leadership for Hyderabad operations in
2005 as part of the AMRI team that established one of the company’s
first sites outside of the United States, and the first in India. Dr.
Shenoy will report to Steven R. Hagen, Ph.D., AMRI vice president of
pharmaceutical development and manufacturing.
Also promoted is Mr. Sivakumar Sivasubramanian to director, general
operations to assume oversight for all general plant operations and
engineering services for AMRI in India. Mr. Sivasubramanian joined AMRI
in Hyderabad in 2005 as general manager, operations, and was also
instrumental in the establishment of the company’s first facility in
India.
Sridhar Vaddeboina, Ph.D., most recently manager, analytical quality
services for India operations, has been promoted to director of
analytical services, India Operations. In this expanded role, Dr.
Vaddeboina will lead all analytical and quality functions in India.
"We are pleased to announce the promotions of Drs. Shenoy and Vaddeboina
and Mr. Sivasubramanian into these expanded leadership roles,” said AMRI
Chairman, CEO and President Thomas E. D’Ambra, Ph.D. "Besides benefiting
from their ability to achieve positive results as demonstrated by their
efforts in establishing and growing our Hyderabad site, we believe that
there will be significant synergies and collaborative benefits gained by
combining leadership of the entire AMRI India footprint under one helm.”
Dr. D’Ambra continued, "We are proud of the efforts to date of these
three employees highlighted today and congratulate them for their
accomplishments and wish them the best in their expanded roles. AMRI
remains committed to seeking and implementing initiatives that will
result in increased value to our customers and stakeholders. We believe
these most recent changes provide significant strategic and marketing
advantages, including increased collaboration and productivity, enhanced
technology transfer and shortened production time, and cost savings.”
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 and
statements concerning 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, 2008 as filed with the Securities and Exchange
Commission on March 13, 2009 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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