SCHAUMBURG, Ill., Dec. 15 /PRNewswire-FirstCall/ -- American Pharmaceutical Partners, Inc. , a leading manufacturer of sterile injectable generic drugs for the U.S. and Canada, and Technoflex S.A. of France, a leading supplier of polypropylene and PVC bags and closures to the global pharmaceutical industry, are forming a joint venture to manufacture sterile-filled injectable drugs at APP’s Grand Island, N.Y. facility. Technoflex will provide its extensive sterile bag manufacturing and filling expertise and will supply packaging components to the joint venture, while APP will contribute its regulatory and marketing expertise and resources. The joint venture, Readyflex Solutions, L.L.C., will be majority owned by APP and will be managed by a joint committee under the supervision of APP. Filled infusion bags represent about 34% of total infusion systems, which also include frozen bags and branded infusion systems.
Patrick Soon-Shiong, Chairman & CEO of APP said, “We are very pleased to embark on this strategic joint venture with Technoflex, which will allow APP to leverage its existing regulatory and marketing strengths by simultaneously developing ANDAs for both the vial and sterile bag presentations of injectable drugs. This will provide APP with the ability to supplement its extensive line of hospital injectable vials to provide our customers with an even broader array of cost effective, essential products in both vials and plastic bags. We look forward to expanding into this growing market segment.”
Jean-Jacques Chappaz, Directeur General of Technoflex stated, “Technoflex is pleased to have joined with APP to provide bag filling services for APP’s aggressive product launch schedule. This joint venture will also offer contract filling to other pharma companies seeking outsourcing. The integration of this new filling service to Technoflex’s leading position in flexible packaging will enhance our complete outsourcing solution.”
About Technoflex S.A.
Technoflex S.A., based in Bidart, France, is a world leader in the manufacture of pharmaceutical and medical bags and related molded connectors. Founded in 1986, the company produces PVC and the new Inerta (TM) non-PVC containers for I.V. injectable drugs, dialysis, blood products and other specialty bags. Technoflex is listed on the Marche Libre, FR185795, of the Paris Stock Exchange.
About American Pharmaceutical Partners, Inc.
American Pharmaceutical Partners, Inc. is a specialty drug company that develops, manufactures and markets injectable pharmaceutical products, focusing on the oncology, anti-infective and critical care markets. Abraxis Oncology, the proprietary division of APP, is devoted entirely to developing and promoting innovative, next-generation cancer therapies such as ABRAXANE(R), recently launched for the treatment of metastatic breast cancer. For more information, visit APP’s website at www.appdrugs.com and www.abraxisoncology.com.
Because these forward-looking statements, whether expressed or implied, involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those in the forward-looking statements. These factors include, without limitation, the success of the formation and operations of Readyflex Solutions, L.L.C. joint venture with Technoflex SA and the company’s ability to develop ANDAs for both the vial and sterile bag presentations of injectable drugs, the difficulty in predicting the timing or outcome of other product research and development efforts, potential product characteristics and indications, marketing approvals and launches of other products, the impact of pharmaceutical industry regulation, the impact of competitive products and pricing, the availability and pricing of ingredients used in the manufacture of pharmaceutical products, the ability to successfully manufacture products in a time-sensitive and cost effective manner, the acceptance and demand of new pharmaceutical products, the impact of patents and other proprietary rights held by competitors and other third parties. Additional relevant information concerning risks can be found in our Form 10-K for the year ended December 31, 2004 and other documents filed by us with the Securities and Exchange Commission.
Contacts: American Pharmaceutical Partners, Inc. Nicole Williams Executive Vice President & CFO (847) 969-2700 PondelWilkinson Inc. Rob Whetstone/Robert Jaffe (310) 279-5963
American Pharmaceutical Partners, Inc.
CONTACT: Nicole Williams, Executive Vice President & CFO of AmericanPharmaceutical Partners, Inc., +1-847-969-2700; or Rob Whetstone or RobertJaffe, both of PondelWilkinson Inc., +1-310-279-5963, for AmericanPharmaceutical Partners, Inc.
