AMRI (NASDAQ: AMRI) today announced that it has completed the relocation
of its Bothell, Washington research unit into approximately 44,000
square feet of nearby newly refurbished laboratory and office space.
Besides substantial improvements in operational efficiencies gained by
consolidating all staff and services into one building, the new site
provides capacity for growth, currently projected to be double the scale
of the current operation over the next five years.
This investment demonstrates the company’s continued commitment to
providing high end technology focused on pharmaceutical lead discovery
and optimization for customers as well as for AMRI’s own internal drug
discovery programs. The new Bothell facility is equipped to support
future enhancements encompassing early biology and natural product drug
discovery capabilities, furthering the company’s ability to provide
scientific services across a fully integrated drug discovery,
development and manufacturing platform.
"We are pleased to announce the successful completion of this move that
simultaneously positions us to continue to realize margin growth by
executing on plans that provide significant cost savings, but that also
sets the stage for future growth,” said Chairman, CEO and President
Thomas E. D’Ambra, Ph.D. "In this current business climate, we believe
the pharmaceutical industry will continue to be challenged to
simultaneously contain costs while continuing to populate new drug
pipelines, resulting in an increased demand for outsourcing services.”
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 company’s plans for its Bothell 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.