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22.06.2009 12:00

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AMRI Opens New Research Facility in Budapest, Hungary

Albany Molecular Research zu myNews hinzufügen Was ist das?


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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