Readers are referred to the cautionary notes regarding
Forward-looking Information at the end of this release
Listed TSX, Symbol: CNJ
BALTIMORE AND WINNIPEG, May 2 /CNW/ - Cangene Corporation's
Baltimore-based injectable pharmaceutical contract-manufacturing
subsidiary, Cangene bioPharma, Inc., has completed a US$11-million
renovation of its sterile filling and support facility. The renovation
adds a second production freeze-dryer and significantly increases
overall throughput capacity. In addition, the renovation allowed
facility upgrades in response to evolving requirements of U.S.,
Canadian, European and other national and regional regulatory agencies
covering the more than 40 countries in which vials and pre-filled
syringes of drugs filled by Cangene bioPharma are sold. Cangene
bioPharma produces finished units of commercial drugs for a variety of
customers ranging from small pharmaceutical companies to major
multinationals. In addition, three investigational products it
currently fills are expected to receive commercial approvals during
this calendar year.
"The renovated facility is fully validated and operating at expanded
capacity. We see increasing opportunities arising from the elimination
of fill capacity by many pharmaceutical companies during the economic
downturn. With this and our continued success in helping current
clients move from clinical trials to FDA approval, Cangene bioPharma
and our parent, Cangene Corporation, have moved aggressively to invest
in the future growth of our business. We anticipate growth through
expanded sales of the commercial products we currently produce for
clients as well as from new clinical trial and commercial work as other
companies increasingly outsource their manufacturing," said Dr. Vicki
Wolff-Long, general manager of Cangene bioPharma.
About Cangene bioPharma, Inc.
Cangene bioPharma is a wholly-owned subsidiary of Cangene Corporation.
Formerly known as Chesapeake Biological Laboratories, Inc., it is a
commercial contract manufacturer, providing fill/finishing services to
pharmaceutical and biotechnology companies. It provides aseptic filling
for liquid and lyophilized products in vials and syringes. Cangene
bioPharma has contributed to the development and production of more
than 185 clinical products since 1990. It has been inspected and
approved by regulatory agencies in the U.S., the European Union and
About Cangene Corporation
Cangene is one of Canada's largest and earliest biopharmaceutical
companies. It was founded in 1984 and is headquartered in Winnipeg,
Manitoba. Cangene has approximately 700 employees in six locations
across North America and its products are sold worldwide. It operates
manufacturing facilities in Winnipeg, Manitoba and Baltimore, Maryland.
Cangene operates three U.S. and one Canadian plasma-collection
facilities branded as Cangene Plasma Resources (www.cangeneplasma.com).
In addition, it has a regulatory affairs, sales and corporate
communications office in Toronto, Ontario.
Cangene is focused on developing therapeutics for infectious diseases,
and the Company uses patented manufacturing processes to produce
plasma-derived and recombinant therapeutic proteins. Cangene has four
FDA and/or Health Canada-approved hyperimmune products. In addition,
the Company has several more products in development at various stages.
Three of Cangene's products have been accepted into the U.S. Strategic
National Stockpile—botulism antitoxin (investigational product),
anthrax immune globulin (investigational product) and a vaccinia immune
globulin, a product that may be used to counteract certain
complications that may arise from smallpox vaccination. Cangene's
wholly-owned subsidiary, Cangene bioPharma, Inc., is based in
Baltimore, Maryland and includes its U.S. commercial sales and
marketing office as well as a significant contract-manufacturing
business (www.cangenebiopharma.com). Cangene's website,
www.cangene.com, includes product and investor information, including
past news releases.
Forward-looking and risk information
The reader should be aware that Cangene's businesses are subject to
risks and uncertainties that cannot be predicted or quantified;
consequently, actual results may differ materially from past results
and those expressed or implied by any forward-looking statements.
Factors that could cause or contribute to such risks or uncertainties
include, but are not limited to: the regulatory environment including
the difficulty of predicting regulatory outcomes; changes in the value
of the Canadian dollar; the Company's reliance on a small number of
customers including government organizations; the demand for new
products and the impact of competitive products, service and pricing;
availability and cost of raw materials, especially the cost,
availability and antibody concentration in plasma; fluctuations in
operating results; government policies or actions; progress and cost of
clinical trials; reliance on key strategic relationships; costs and
possible development delays resulting from use of legal, regulatory or
legislative strategies by the Company's competitors; uncertainty
related to intellectual property protection and potential costs
associated with its defence; the Company's exposure to lawsuits; and
other matters beyond control of management. Risks and uncertainties are
discussed more extensively in the MD&A section of the Company's most
recent annual report and annual information form, which are available
on the Company's website or on SEDAR at www.sedar.com.
The preceding cautionary statements should be considered in connection
with all written or oral statements, especially forward-looking
statements, that are made by the Company or by persons acting on its
behalf and in conjunction with its periodic filings with Securities
Commissions, including those contained in the Company's news releases
and most recently filed annual information form. Forward-looking
statements can be identified by the use of words such as "expects",
"plans", "will", "believes", "estimates", "anticipates", "intends",
"may", "bodes" and other words of similar meaning (including negative
and grammatical variations). Should known or unknown risks or
uncertainties materialize, or should management's assumptions prove
inaccurate, actual results could vary materially from those
anticipated. The Company undertakes no obligation to publicly make or
update any forward-looking statements, except as required by applicable
"Cangene" is a trademark belonging to Cangene Corporation.
SOURCE Cangene Corporation
For further information:
For further information about Cangene bioPharma, please contact Vicki Wolff-Long, General Manager, at 410-843-5000, ext.2021or by email at email@example.com. For information about Cangene Corporation, contact Jean Compton at (416) 675-8280 or by email at firstname.lastname@example.org.