Patheon signs three year $18 million development agreement with Boehringer Ingelheim
TORONTO, Oct. 20, 2011 /CNW/ - Patheon, Inc. (TSX: PTI), a global provider of drug development and manufacturing services to the international pharmaceutical industry announced today that Boehringer Ingelheim, a leading globally operating pharmaceutical corporation, has awarded it two projects with combined revenue of more than $18 million over a three year period of time. The projects are both fixed-dose combination drugs in development for the treatment of the growing population of type II diabetics.
In commenting on the announcement, Mark Kontny, Patheon's President of Pharmaceutical Development Services and Chief Scientific Officer said, "I am very gratified that Boehringer Ingelheim recognizes our expertise in formulating, scaling and successfully launching complex formulations such as these molecules. It is this kind of support and recognition that has enabled us to develop our market leading position in pharmaceutical development services. "
Patheon Inc. (TSX: PTI) is a leading global provider of contract development and manufacturing services to the global pharmaceutical industry. The company provides the highest quality products and services to approximately 300 of the world's leading pharmaceutical and biotechnology companies. Its comprehensive range of fully integrated Pharmaceutical Development Services includes pre-formulation, formulation, analytical development, clinical manufacturing, scale-up and commercialization. The company's integrated development and manufacturing network of 10 facilities, nine development centers and one clinical trial packaging facility across North America and Europe, ensures that customer products can be launched with confidence anywhere in the world.