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CFR Pharmaceuticals Investing $27 Million in Uman Pharma Inc.


11/10/2011 11:37:26 AM

CANDIAC, QC, Nov. 10, 2011 /PRNewswire/ - Uman Pharma Inc., a Canadian privately owned generic pharmaceutical company is pleased to announce the conclusion of a strategic partnership with CFR Pharmaceuticals S. A. (CFR) of Santiago, Chile. As part of this transaction CFR acquired a 50.79% shareholding in Uman through a capital investment of C$27.0 million. CFR is a publicly traded (CFR) leading Latin American pharmaceutical company with operations in Latin America and other emerging markets.

Sylvain Duvernay, Uman Pharma's Chief Executive Officer said: "Among other corporate purposes, CFR's injection of funds will allow Uman to increase substantially the number of specialized oncology products to be developed and manufactured in Candiac, Canada, for commercialization worldwide."

"By combining our expertise with CFR's sales and marketing team, Uman has increased its potential to serve the regulated markets for valuable medications. This association will also open the Emerging Markets for Uman's products."

About Uman Pharma

Uman Pharma is a global pharmaceutical company based in Candiac, on the south shore of Montreal, Canada. Its strengths lie in the development and manufacturing of cytotoxic and high potent sterile injectable and solid dosage products for the oncology market. Uman's portfolio of products includes proprietary and generic formulations, backed by an experienced and professional team and GMP manufacturing facilities (11,700m2) certified for Canada and Europe and in the process to be approved by the United States FDA.

Please visit www.umanpharma.com for more information.

About CFR Pharmaceuticals

CFR Pharmaceuticals S.A. is a leading Latin American pharmaceutical company with operations in 15 countries in Latin America (mainly Chile, Peru, Argentina and Colombia), and other emerging markets. Its business model is focused on the development, manufacture and commercialization of off-patent and locally unpatented branded specialty pharmaceutical products. The company manages its operations along several business segments.

Please visit www.cfr-corp.com for more information.

SOURCE Uman Pharma Inc.


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