AMRI (NASDAQ: AMRI) today announced that it has finished the
construction of a new state-of-the-art chemistry R&D facility in
Budapest, Hungary. The successful completion and move into 32,300 square
feet (3,000 square meters) of laboratory and administrative space marks
a significant milestone in the company’s plan initiated in 2008 to
transform its European hub into a higher value discovery services
business through consolidation of multiple locations, equipment and
operating costs.
In addition to the significant improvements in operational efficiencies
and enhanced technology transfer, the new site provides capacity for the
anticipated expansion of synthetic chemistry services, currently
projected to double over the next five years.
Figuring prominently in the mix of services will be expanded offerings
in parallel synthesis and medicinal chemistry, and the establishment of
fragment-based drug discovery. The facility also includes a scale-up
laboratory for non GMP synthesis for batch sizes up to 25 liters.
"The successful completion of this expansion increases the ability of
AMRI to execute on its strategy to accelerate growth and expand its
presence in the European marketplace,” said Chairman, CEO and President
Thomas E. D’Ambra, Ph.D. "Critical to the decision to undertake this
project was the company’s drive to cultivate a customer base relatively
untapped. We believe this latest investment, along with our parallel
investments in the US, India and Singapore, will further strengthen
AMRI’s presence as a premier provider of a broad range of scientific
services, capabilities and geographic choices around the globe.”
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,"
"projected,” "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 company’s plans for its Hungary
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,
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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