TORONTO, June 18 /CNW/ - Patheon (TSX:PTI), a global provider of drug
development and manufacturing services to the international pharmaceutical
industry, today announced that it has selected locations in Research Triangle
Park (RTP) and Durham, North Carolina for its global headquarters and new
analytical development laboratory facilities. The RTP area is located on
7,000 acres of land established in 1959 and is now home to 136 research-based
companies ranging from Fortune 100 multinational corporations to small
start-ups, and is commonly thought of as one of the largest and successfully
growing business centers within the United States today.
"The RTP and Durham locations are both rapidly growing centers for
pharmaceutical manufacturing and service providers offering a high
availability of pharmaceutical scientists, access to customers, and an
excellent quality of life for its residents with an affordable cost of living.
There are currently 334 biotechnology-related companies and facilities in
North Carolina. During the process, The State government offered some
interesting business incentives, which helped the decision-making process a
great deal." said Wes Wheeler, Chief Executive Officer and President, Patheon
Inc. "Patheon has over 300 US based customers and derives approximately 50% of
its revenues from US based companies. This move positions us to attract top
talent from the industry and represents another step towards our vision of
becoming best provider of manufacturing and development services to the
"We are very pleased that Patheon has chosen North Carolina for its
global headquarters and new laboratory facility," said N.C. Commerce Secretary
Jim Fain. "This exciting announcement demonstrates clearly the leadership role
North Carolina has developed in the life sciences sector as well as our strong
and on-going economic relationship with our Canadian neighbors."
The analytical development facility will be built to support its current
US-based pharmaceutical development operations in Cincinnati and will
initially offer stability studies, validation testing and analytical chemistry
services. The company has already selected the location of the new site in
Research Triangle Park and will be ready for operation in the next three
There will be no impact to Patheon's significant regional presence in
Ontario, Canada, where it operates four facilities with over 1,500 employees.
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 the world.
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:
For further information: Mr. Wes Wheeler, President & Chief Executive
Officer, Tel: (905) 812-2112, Email: firstname.lastname@example.org; Mr. Terry Novak,
President of North America, Chief Marketing Officer, Tel: (862) 207-1262,
Email: email@example.com; Ms. Jean Treadwell, Investor Relations, Tel:
(905) 816-8344, Email: firstname.lastname@example.org