TORONTO, July 2 /CNW/ - Patheon (TSX:PTI), a global provider of drug
development and manufacturing services to the international pharmaceutical
industry, has completed a shareholders agreement and a sales and marketing
agreement with Italy's BSP Pharmaceuticals, a company focussed on the
development and manufacturing of cytotoxic pharmaceutical products. Under the
terms of the sales and marketing agreement, Patheon will promote BSP's
cytotoxic manufacturing capacity and development services. Mr. Aldo Braca,
President, Patheon Europe will be President and Chief Executive Officer of BSP
Pharmaceuticals. Patheon is in the process of identifying a successor to Mr.
Braca and for a transitional period, Mr. Braca will fill both roles.
"Cytotoxic manufacturing represents a major market opportunity, and a
capability that Patheon does not have in its network. With these agreements in
place, Patheon can now offer its clients a complete suite of services - which
now includes cytotoxics - in contract manufacturing and formulation
development." said Wes Wheeler, Chief Executive Officer and President.
Cytotoxic products play a significant role in the world's oncology
market, which is estimated to be approximately $9.6 billion in the seven major
pharmaceutical markets of U.S., U.K., Germany, France, Italy, Spain, and Japan
and is expected to reach $12.8 billion by 2009.
ABOUT BSP Pharmaceuticals
BSP Pharmaceuticals (www.bsppharmaceuticals.com) is a privately held
company headquartered in Latina, Italy that serves global pharmaceuticals and
biotechnology oriented companies with development and commercial manufacturing
services for pharmaceutical products with cytotoxic characteristics. Patheon
holds an 18% interest in BSP. The remainder of the company is owned by
companies associated with Mr. Braca's family and another private investor.
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:
For further information: Mr. Wes Wheeler, President & Chief Executive
Officer, Tel: (905) 812-2112, Email: firstname.lastname@example.org; Mr. Eric Evans,
Chief Financial Officer, Tel: (905) 812-6660, Email: email@example.com;
Ms. Jean Treadwell, Investor Relations, Tel: (905) 816-8344, Email: