Corning and Gerresheimer Collaborate to Deliver New Corning Valor(TM) Glass to the Pharmaceutical Packaging Market
July 24 2017 - 8:30AM
Remarkable glass innovation enables enhanced quality
parenteral packaging
CORNING, N.Y. and DUSSELDORF,
GERMANY; JULY 24, 2017 - Corning Incorporated (NYSE: GLW) and
Gerresheimer AG announce that they are accelerating the supply of
Corning Valor(TM) Glass to the pharmaceutical industry.
Valor Glass is a breakthrough glass container
engineered for the storage and delivery of 21st
century injectable drugs. Valor Glass is an unprecedented
improvement in glass container quality. Valor Glass's superior
strength, chemical durability and damage resistance result in
better protection for drug products. Valor Glass also enables
increased throughput and higher levels of quality assurance for
pharmaceutical companies, and higher-quality medicines for
patients.
Corning and Gerresheimer have been working together since 2015 to
accelerate Corning innovations for the pharmaceutical glass
packaging market.
"We are thrilled to be working with Corning on
innovations to enhance quality across the industry. Valor Glass is
a remarkable Type I glass with outstanding performance on every
attribute," said Uwe Röhrhoff, chief executive officer of
Gerresheimer.
"Gerresheimer is a long-standing leader in the
industry. They've been a terrific collaboration partner, and we're
excited to be working with them to bring Valor Glass to the
pharmaceutical industry," said Ron Verkleeren, vice president and
general manager, Corning Pharmaceutical Technologies.
Forward-Looking and Cautionary
Statements
This press release contains "forward-looking statements" (within
the meaning of the Private Securities Litigation Reform Act of
1995), which are based on current expectations and assumptions
about Corning's financial results and business operations, that
involve substantial risks and uncertainties that could cause actual
results to differ materially. These risks and uncertainties
include: the effect of global political, economic and business
conditions; conditions in the financial and credit
markets; currency fluctuations; tax rates; product demand
and industry capacity; competition; reliance on a concentrated
customer base; manufacturing efficiencies; cost reductions;
availability of critical components and materials; new product
commercialization; pricing fluctuations and changes in
the mix of sales between premium and non-premium products; new
plant start-up or restructuring costs; possible
disruption in commercial activities due to terrorist activity,
armed conflict, political or financial instability, natural
disasters, adverse weather conditions, or major health concerns;
adequacy of insurance; equity company activities; acquisition and
divestiture activities; the level of excess or obsolete inventory;
the rate of technology change; the ability to enforce patents;
product and components performance issues; retention of key
personnel; stock price fluctuations; and adverse litigation or
regulatory developments. These and other risk factors
are detailed in Corning's filings with the Securities and
Exchange Commission. Forward-looking statements speak only as
of the day that they are made, and Corning undertakes no obligation
to update them in light of new information or future events.
Digital Media
Disclosure
In accordance with guidance provided by the SEC regarding the use
of company websites and social media channels to disclose material
information, Corning Incorporated ("Corning") wishes to notify
investors, media, and other interested parties that it intends to
use its website
(http://www.corning.com/worldwide/en/about-us/news-events.html) to
publish important information about the company, including
information that may be deemed material to investors. The list of
websites and social media channels that the company uses may be
updated on Corning's media and website from time to time. Corning
encourages investors, media, and other interested parties to review
the information Corning may publish through its website and social
media channels as described above, in addition to the company's SEC
filings, press releases, conference calls, and webcasts.
About Gerresheimer
Gerresheimer is a leading global partner to the pharma
and healthcare industries. The company's special glass and
plastic products contribute to health and well-being. Gerresheimer
is a global organization with 10,000 employees and manufacturing
operations in the local markets, close to customers. It has over 40
production facilities in Europe, North and South America and Asia
generating revenue in excess of EUR 1.4 billion. The comprehensive
product portfolio includes pharmaceutical packaging products as
well as convenient and safe drug delivery systems such as insulin
pens, inhalers, pre-fillable syringes, vials, ampoules, bottles and
containers for liquid and solid pharmaceuticals with closure and
safety systems, plus cosmetic packaging products.
About Corning
Incorporated
Corning (www.corning.com) is one of the world's leading innovators
in materials science. For more than 160 years, Corning has applied
its unparalleled expertise in specialty glass, ceramics, and
optical physics to develop products that have created new
industries and transformed people's lives. Corning succeeds through
sustained investment in R&D, a unique combination of material
and process innovation, and close collaboration with customers to
solve tough technology challenges. Corning's businesses and markets
are constantly evolving. Today, Corning's products enable diverse
industries such as consumer electronics, telecommunications,
transportation, and life sciences. They include damage-resistant
cover glass for smartphones and tablets; precision glass for
advanced displays; optical fiber, wireless technologies, and
connectivity solutions for high-speed communications networks;
trusted products that accelerate drug discovery and manufacturing;
and emissions-control products for cars, trucks, and off-road
vehicles.
Media Relations
Contacts:
Elizabeth M.
Dann
(607) 974-4989
dannme@corning.com
Chelsea Tracy-Zelko
(607) 974-4450
tracycr@corning.com
Investor Relations Contact:
Ann H.S. Nicholson
(607) 974-6716
nicholsoas@corning.com
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announcement is distributed by Nasdaq Corporate Solutions on behalf
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The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Corning Incorporated via Globenewswire
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