ALBANY, N.Y., June 23, 2014 /PRNewswire/ -- AMRI (NASDAQ: AMRI)
today announced that the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976, as amended ("HSR"), in
connection with AMRI's proposed acquisition of Oso
Biopharmaceuticals Manufacturing, LLC ("OsoBio") was terminated by
the United States Federal Trade Commission on June 20, 2014.
As previously announced on June 2,
2014, AMRI entered into a definitive agreement to acquire
all of the outstanding membership interests of OsoBio for
$110 million in cash. The early
termination of the HSR waiting period satisfies one of the
conditions to the proposed acquisition. Subject to satisfaction of
other customary closing conditions, the transaction is expected to
be completed in the third quarter of 2014.
About AMRI
Albany Molecular Research Inc. (AMRI) is a
global contract research and manufacturing organization that has
been working with the Life Sciences industry to improve patient
outcomes and the quality of life for more than two decades. With
locations in North America,
Europe and Asia, our key business units include Large
Scale Manufacturing (LSM) and Discovery and Development Solutions
(DDS). The LSM business unit includes API and Drug Product
Manufacturing, which supports the commercial cGMP manufacturing of
complex APIs, starting materials, clinical formulation development
and aseptic fill and finish. Our DDS unit provides comprehensive
services from hit identification to IND, including expertise with
diverse chemistry, library design and synthesis, in vitro biology
and pharmacology, drug metabolism and pharmacokinetics, as well as
natural products. For more information about AMRI, please visit our
website at www.amriglobal.com or follow us on Twitter
(@amriglobal).
Forward-looking Statements
This press release includes
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 that involve risks and
uncertainties. These statements include, but are not limited to,
statements regarding the pending acquisition of OsoBio
Pharmaceuticals, Inc. 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
ability of the Company to close the transaction with OsoBio and
effectively integrate OsoBio's business; possible negative impacts
to the revenue expected to be received by OsoBio following the
closing of the transaction; trends in pharmaceutical and
biotechnology companies' outsourcing of chemical research and
development, including softness in these markets; sales of Allegra®
and the impact of the "at-risk" launch of generic Allegra®, the OTC
conversion of Allegra® and the generic and OTC sales of Allegra in
Japan on the company's receipt of
significant royalties under the Allegra® license agreement; the
success of the sales of other products for which the company
receives royalties; the risk that the company will not be able to
replicate either in the short or long term the revenue stream that
has been derived from the royalties payable under the Allegra®
license agreements; the risk that clients may terminate or reduce
demand under any strategic or multi-year deal; the company's
ability to enforce its intellectual property and technology rights;
the company's ability to obtain financing sufficient to meet its
business; the company's ability to successfully comply with
heightened FDA scrutiny on aseptic fill/finish operations; the
results of further FDA inspections; the company's ability to
effectively maintain compliance with applicable FDA and DEA
regulations; the company's ability to integrate past or future
acquisitions and make such acquisitions accretive to the company's
business model; the company's ability to take advantage of
proprietary technology and expand the scientific tools available to
it; the ability of the company's strategic investments and
acquisitions to perform as expected, as well as those risks
discussed in the company's Annual Report on Form 10-K for the year
ended December 31, 2013 as filed with
the Securities and Exchange Commission on March 17, 2014, and the company's other SEC
filings.
SOURCE AMRI