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Faulding Pharmaceutical Co. And Faulding Puerto Rico, Inc. Announces Change Of Its Corporate Names To Mayne Pharma (USA) Inc. And Mayne Pharma (Pr) Inc.



10/19/2005 5:09:18 PM

PARAMUS, N.J., Dec. 1 /PRNewswire-FirstCall/ -- On December 1st, Faulding Pharmaceutical Co. and Faulding Puerto Rico, Inc. will change their business names to Mayne Pharma (USA) Inc. and Mayne Pharma (PR) Inc. respectively. These name changes are part of the global branding strategy of its parent company, Mayne Group Limited.

Mayne's global capabilities stretch from production of Active Pharmaceutical Ingredient (API) to the manufacture of over 120 molecules for distribution in 50 countries.

In making the announcement, Stuart Hinchen, the president of Mayne Pharma in the Americas, said: "Our new corporate name is being adopted at an exciting time for our company. The acquisition of Faulding by Mayne in 2001 laid the foundation for an aggressive corporate development program involving both organic growth and strategic acquisitions. This corporate growth is strengthening our standing as a leading pharmaceutical company in the United States".

"Our growth strategy is focused on one key goal: bolstering our ability to deliver quality, cost-effective products and services to hospitals nationwide," Mr. Hinchen added.

Mayne Pharma will continue to focus on expanding their offering of hospital injectable products in defined therapeutic areas. These include oncology, anesthesia/pain, anti-infectives, as well as drugs for the treatment of cardiac conditions and to combat hypertension.

The purchases of the North American Paclitaxel rights from Abbott Laboratories in September, and Methotrexate and Leucovorin from Xanodyne Pharmacal, Inc. in October demonstrate their commitment to growth. In December they anticipate to complete the acquisition of the worldwide Paclitaxel API manufacturing business from NaPro BioTherapeutics, Inc.

Mayne's launches of Hydromorphone and Pamidronate, combined with the imminent launches of Fluconazole and Carboplatin highlight their strong development capabilities and focus on meeting the needs of our customers.

Mr. Hinchen added, "As Mayne Pharma grows and diversifies we remain committed to providing comprehensive after-sales service to our customers, and to promoting fairness in our relationships with business partners."

Mayne Pharma (USA) Inc. is a subsidiary of Mayne Group Limited, which is listed on the Australian Stock Exchange. Mayne has core businesses in pharmaceuticals (the manufacture of injectable and oral pharmaceuticals for distribution to more than 50 countries), health services (pathology, diagnostic imaging, medical centers, and pharmacy services), and health-related consumer products.

Mayne Group Limited

CONTACT: Joe Marchese, VP Sales and Marketing of Mayne Group Limited,+1-201-225-5531


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