Inotiv, Inc. Announces Plan to Insource North American Transportation Operations
December 06 2023 - 4:30PM
Inotiv, Inc. (Nasdaq: NOTV) (the “Company”), a
leading contract research organization specializing in nonclinical
and analytical drug discovery and development services and research
models and related products and services, today announced that the
Company will be partnering with Vanguard Supply Chain Solutions
LLC, the Company’s current provider of transportation services, to
enable the in-house integration of Inotiv’s North American
transportation operations.
By taking direct control of its transportation operations, the
Company expects to achieve key efficiencies to strengthen internal
operations, improve its outgoing supply chain, and bolster service
and scientific continuity for clients.
Robert Leasure, Jr., Inotiv’s President and Chief Executive
Officer, commented, “The in-house integration of our
transportation operations marks a pivotal step in our ongoing
commitment to “One Inotiv” and the unified vision we strive for
across all facets of our business. We expect this transition to
result in streamlined processes, increased efficiency, and enhanced
service and faster response times for our valued clients.” Mr.
Leasure concluded, “We appreciate the support of the Vanguard team
during this transition and for their flexibility and dedication
over the last twelve months as we’ve worked to rationalize our
facility footprint and optimize our transportation routes.”
The transition is expected to be complete by early January
2024.
About Inotiv
Inotiv, Inc. is a leading contract research
organization dedicated to providing nonclinical and analytical drug
discovery and development services and research models and related
products and services. The Company’s products and services focus on
bringing new drugs and medical devices through the discovery and
preclinical phases of development, all while increasing efficiency,
improving data, and reducing the cost of taking new drugs to
market. Inotiv is committed to supporting discovery and development
objectives as well as helping researchers realize the full
potential of their critical R&D projects, all while working
together to build a healthier and safer world. Further information
about Inotiv can be found here: https://www.inotivco.com/.
This release contains forward-looking statements
that are subject to risks and uncertainties including, but not
limited to, risks and uncertainties related to the ability to
successfully assume, integrate and realize efficiencies and other
benefits related to transportation operations, the impact of events
related to non-human primate matters on the Company’s business,
operations, results, financial condition, cash flows, and assets,
the Company’s ability to comply with covenants under its credit
agreement, Company’s ability to reduce its legal and third party
fees, changes in the market and demand for the Company’s products
and services, the development, marketing and sales of products and
services, changes in technology, industry and regulatory standards,
the timing of acquisitions and the successful closing, integration
and business and financial impact thereof, governmental
regulations, inspections and investigations, claims, investigations
and litigation against or involving the Company, its business
and/or its industry, the impact of site closures and
consolidations, expansion and related efforts, and various other
market and operating risks, including those detailed in the
Company's filings with the U.S. Securities and Exchange
Commission.
Company Contact |
|
Investor Relations |
Inotiv, Inc. |
|
LifeSci Advisors |
Beth A. Taylor, Chief Financial Officer |
|
Bob Yedid |
(765) 497-8381 |
|
(516) 428-8577 |
btaylor@inotivco.com |
|
bob@lifescieadvisors.com |
|
|
|
Inotiv (NASDAQ:NOTV)
Historical Stock Chart
From Apr 2024 to May 2024
Inotiv (NASDAQ:NOTV)
Historical Stock Chart
From May 2023 to May 2024