TORONTO, Jan. 30 /CNW/ - Patheon (TSX:PTI), a global provider of drug
development and manufacturing services to the international pharmaceutical
industry, today announced that after pursuing all reasonable alternatives for
the past 12 months, it has elected to close its Carolina facility in Puerto
Rico effective January 31, 2009.
Certain transitional activities will be continued at the facility for the
next few weeks to ensure proper and compliant closure of the facility, however
as of January 31, 2009 no further products will be manufactured, packaged or
shipped from the facility. As previously disclosed, severance and other
closure costs are expected to be approximately USD$3.0 million.
Patheon Inc. (TSX:PTI; www.patheon.com) is a leading global provider of
contract development and manufacturing services to the global pharmaceutical
industry. Patheon prides itself in providing the highest quality products and
services to more than 300 of the world's leading pharmaceutical and
biotechnology companies. Patheon's services range from preclinical development
through commercial manufacturing of a full array of dosage forms including
parenteral, solid, semi-solid and liquid forms. Patheon uses many innovative
technologies including single-use disposables, Liquid-Filled Hard Capsules and
a variety of modified release technologies.
Patheon's comprehensive range of fully integrated Pharmaceutical
Development Services includes pre-formulation, formulation, analytical
development, clinical manufacturing, scale-up and commercialization. Patheon
can take customers direct to clinic with global clinical packaging and
distribution services and Patheon's Quick to Clinic(TM) programs can
accelerate early phase development project to clinical trials while minimizing
the consumption of valuable API.
Patheon's integrated development and manufacturing network of 11
facilities, and 6 development centers across North America and Europe, strives
to ensure that customer products can be launched with confidence anywhere in
Caution Concerning Forward-Looking Statements
This news release may contain forward-looking statements which reflect
management's expectations regarding the Company's future growth of operations,
performance (both operational and financial) and business prospects and
opportunities. These statements are made in the context of the risks and
uncertainties that are outlined in the Company's public documents, which can
be accessed on our website at www.patheon.com or on SEDAR at www.sedar.com.
For further information: Ms. Jean Treadwell, Investor Relations, Tel:
(905) 816-8344, Fax: (905) 812-6705, Email: firstname.lastname@example.org; Mr.
Roberto Salcedo, General Manager & VP, Puerto Rico Operations, Tel: (787)
743-1193, Fax: (787) 258-1794, Email: email@example.com