ALBANY, N.Y., Jan. 12, 2016 /PRNewswire/ -- AMRI (NASDAQ:
AMRI) is pleased to announce the extension of a key insourcing
relationship with a major pharmaceutical company designed to
accelerate their chemistry and drug discovery efforts. The original
insourcing collaboration, which commenced in 2011, is being
extended significantly beyond its original termination date of
December 2018 to December 31, 2021.
"Insourcing relationships provide the benefit of accelerating
drug discovery, drug product and manufacturing efforts by
maximizing the real-time exchange of scientific information and
enabling scientists to rapidly adapt to changing project needs,"
said Michael P. Trova, Senior Vice
President, Chemistry, AMRI. "We find these relationships are
mutually beneficial and will be an important key to the long-term
development and success of AMRI's DDS business unit. We look
forward to finding new ways to deepen and extend these unique
arrangements."
"The insourcing model is a fusion of the best elements of
external outsourcing and in-house R&D activities," said
Christopher Conway, Senior Vice
President of Discovery and Development Services, AMRI. "With
expertise in managing high performing groups of scientists, AMRI
developed this business model in order to embed its own scientists
into the customer's facility, allowing the customer to
cost-effectively leverage their underutilized laboratory space and
resources."
About Albany Molecular Research Inc.
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 segments include
Discovery and Development Services (DDS), Active Pharmaceutical
Ingredients (API), and Drug Product Manufacturing (DPM). Our DDS
segment 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. API supports the
chemical development and cGMP manufacture of complex API, including
potent, controlled substances, biologics, peptides, steroids,
hormones, cytotoxic compounds and sterile API. DPM supports
development through commercial scale production of complex
liquid-filled and lyophilized parenterals, sterile suspensions and
ophthalmic formulations.
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 term or extension of customer
contracts, the benefits to be derived by the company from its
insourcing or other customer relationships, and the potential
impact on the long-term results of the company's business
unit(s). 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 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 hire and
retain qualified scientists to provide insourcing services, the
risk of a decrease in customers' demand for the company's services,
including but not limited to early termination of customer
contracts, as well as those risks discussed in the company's Annual
Report on Form 10-K for the year ended December 31, 2014 as filed with the Securities
and Exchange Commission on March 16,
2015, and the company's other SEC filings.
For more information about AMRI, please visit our website at
www.amriglobal.com or follow us on Twitter (@amriglobal).
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SOURCE AMRI