COLUMBIA, Md., March 16 /PRNewswire-FirstCall/ -- Martek Biosciences Corporation announced today that it has been selected by Roche as a production partner for shikimic acid, the starting material used to produce Tamiflu(R). Working closely with Roche engineers in recent months, Martek has adapted existing fermentation and downstream processing equipment at a Martek production site to conform to Roche’s fermentation requirements for the manufacturing of shikimic acid. As a result, Martek is capable of producing limited commercial quantities of shikimic acid, and it has received initial orders from Roche.
Increased demand for Tamiflu(R) has largely been the result of orders received by Roche from over 60 countries for stockpiling of supplies that may be needed in the event of an avian flu pandemic. Martek is one of several partners working with Roche to increase Roche’s supply of fermentation-derived shikimic acid for the production of Tamiflu(R). Roche’s only other source of shikimic acid is the naturally grown Chinese star anise fruit, the supply of which has become increasingly limited in recent months due to increased demand. Supplies of the Chinese star anise fruit are further subject to the limitations of its seasonal harvest periods. In addition, star anise trees require specific climactic conditions for growth and it can take as many as six years for a new tree to bear fruit. In contrast, fermentation-derived shikimic acid can be produced on a consistent basis.
“Martek is pleased to be helping Roche increase its supply of shikimic acid, the starting material used to produce Tamiflu(R). In a relatively short period of time, Martek’s scientists and engineers have been able to work with Roche to implement a commercial-scale production process using Martek’s equipment. This success has helped Roche reduce its dependence on the Chinese star anise fruit as a source of shikimic acid,” stated Henry “Pete” Linsert, Jr., Chairman and CEO of Martek.
Sales to Roche are not anticipated to be material to Martek in fiscal year 2006. Martek believes there may be the potential for additional sales to Roche in future years, but this is dependent on future global demand for Tamiflu(R) and Roche’s desire to purchase additional shikimic acid from Martek.
Martek Biosciences Corporation is a leader in the innovation and development of omega-3 DHA products that promote health and wellness through every stage of life. The Company produces Martek DHA(TM), a plant source of the omega-3 fatty acid DHA (docosahexaenoic acid), for use in foods, infant formula, and supplements, and ARA (arachidonic acid), an omega-6 fatty acid, for use in infant formula. For more information on Martek Biosciences, visit http://www.martek.com.
Sections of this release contain forward-looking statements concerning, among other things: (1) expectations of sales to Roche which may never be material to Martek; and (2) Martek’s ability to meet Roche’s production standards and requirements. These statements are based upon numerous assumptions which Martek cannot control and involve risks and uncertainties that could cause actual results to differ. These statements should be understood in light of the risk factors set forth in the Company’s filings with the Securities and Exchange Commission, including, but not limited to, Part I, Item 1A to the Company’s Form 10-K/A for the fiscal year ended October 31, 2005 and other filed reports on Form 10-K, Form 10-Q and Form 8-K.
Contact: Kyle Stults
Investor Relations (410) 740-0081
Martek Biosciences Corporation
CONTACT: Kyle Stults, Investor Relations of Martek BiosciencesCorporation, +1-410-740-0081
Web site: http://www.martekbio.com/
