ots Ad hoc-Service: Girindus AG <DE0005880405> Girindus Signs Agreement to acquire API (Active Pharmaceutical Ingredients) Development and Pilot Plant of Aventis Pharmaceuticals in Cincinnati, Ohio, USA
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Ad Hoc Press Release
Girindus Signs Agreement to acquire API (Active Pharmaceutical Ingredients) Development and Pilot Plant of Aventis Pharmaceuticals in Cincinnati, Ohio, USA
Aventis to sign a three-year contract with Girindus for new process development and production of their early phase APIs
Girindus AG announced today the signing of a contract for the acquisition of the Aventis Pharmaceuticals Inc. API development, radiochemistry and cGMP pilot manufacturing facility in Reading, Ohio (Greater Cincinnati), effective January 1, 2001. The closing of the transaction is expected on December 29, 2000, subject to the satisfaction of certain conditions by the parties.
The purchase price for this fully equipped, state-of-the-art facility is approximately US $9 million. At the closing, Aventis Pharmaceuticals enters into a three-year process development and production contract with Girindus for development and production of early-phase APIs valued at over US $15 million. Thereafter, a longer-term partnership between Girindus and Aventis Pharmaceuticals could be developed. Aventis Pharmaceuticals is the US business of Aventis Pharma, the prescription drug business of Aventis SA, a world leader in pharmaceuticals and agriculture.
The acquisition is a major milestone in the Girindus expansion strategy to strengthen its US market presence. Girindus, with global headquarters in Bensberg, Germany, has already been serving US customers through its sales and marketing office in Palm Harbor, Florida, since 1986. This strategic step adds significant capabilities in the area of process R&D and production under cGMP for early clinical APIs in the worlds largest biopharmaceutical and pharmaceutical market.
The combination of the Cincinnati facility with the European process development and cGMP scale-up and production center in Halle-Kuensebeck/Westphalia will significantly increase our technology and capacity capabilities for the biopharmaceutical and pharmaceutical industry," said Fritz Link, Girindus Chairman of the Board of Management. "The planned increase in process development capacity at both Cincinnati and Kuensebeck, where the new laboratory building is nearing completion, will greatly enhance Girindus ability to handle more projects, serving more customers."
The state-of-the art 50,000-square-foot (approx. 5,000 square meters) process development and pilot facility in Cincinnati is currently staffed with over 20 experienced development scientists. This transaction may provide additional opportunities for those scientists in the future. Girindus will also immediately start recruiting additional scientists in order to acquire business from third parties. Without further capital investments, the facility is equipped to accommodate a total of about 50 scientists. The 5.5-acre (about 22,000 square meters) property has sufficient space for future expansion.
Aventis is currently constructing its new chemical development and pilot laboratories in Bridgewater, New Jersey, with completion expected in 2002.
Girindus AG (Neuer Markt, Frankfurt, Germany: GIR, WKN 588040) is a unique technology-driven company offering the biopharmaceutical industry comprehensive skills including process R&D, cGMP compliant scale-up and production facilities, as well as regulatory assistance. The Girindus scale-up and production center at Halle-Kuensebek in Westphalia, Germany, has already been successfully inspected by the FDA several times. For more information, please visit www.girindus.com.
Contact:
Girindus AG Barbara Scharte, Investor Relations Manager
bscharte@girindus.com Phone: +49-2204-926 934
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