MARIETTA, Ga., May 7, 2007 – As part of its ongoing global manufacturing strategic planning, Solvay Pharmaceuticals, Inc. announced today the sale of its Baudette, Minn. facilities to ANI Pharmaceuticals (ANI).
Under the terms of the agreement effective April 30, 2007, Solvay Pharmaceuticals is divesting its Main Street and hormone facilities in Baudette, Minn. ANI will assume all current manufacturing and packaging activities performed at the facilities. ANI will serve as contract manufacturer to Solvay Pharmaceuticals for its products currently manufactured and packaged in Baudette and will continue to provide laboratory services to Solvay Pharmaceuticals.
“The contributions of the people who work in Baudette to Solvay Pharmaceuticals’ success can not be overstated,” said Laurence Downey, M.D., president and CEO, Solvay Pharmaceuticals, Inc. “While the decision to divest our operations in Baudette was not easy, it was a necessary part of our global manufacturing strategy and ensures the long-term viability of the operations in Baudette. We look forward to continuing our relationship with this talented group of people as we transition ownership to our new partners at ANI.”
“This transaction represents a defining event for ANI, providing expanded liquid and tablet production capabilities, and a highly experienced team of individuals, which will accelerate ANI’s penetration of the Generic Prescription Market,” said Tom Anderson, President and CEO, ANI Pharmaceuticals. “We are also excited about the prospects of supporting Solvay Pharmaceuticals’ continued growth, and future expansion of this partnership between our two companies.”
About ANI Pharmaceuticals
Acquired in 2004 by MVP Capital Partners, Tom Anderson, ANI’s President and CEO, and other investors, ANI Pharmaceuticals is a niche specialty pharmaceutical company focused on the generic Rx and OTC product markets.
Headquartered in Baltimore, MD, ANI’s customers include wholesale distributors McKesson and Cardinal Health as well the largest pharmacy and retail chains in the country, including Walgreens, CVS, Rite Aid, and Wal-Mart. Supported by a robust R&D pipeline, the Company sells a full line of Rx and OTC cough/cold products as well as antacids, laxatives, and other stomach remedies. ANI has performed contract manufacturing for some of the largest and most respected pharmaceutical companies in the world, including Teva and Watson.
For more information, visit www.anipharmaceuticals.com.
About Solvay Pharmaceuticals, Inc.
Solvay Pharmaceuticals, Inc., of Marietta, Georgia is the U.S. subsidiary of Solvay Pharmaceuticals. For more information, visit www.solvaypharmaceuticals-us.com.
Solvay Pharmaceuticals is a research driven group of companies that constitute the global pharmaceutical business of the Solvay Group. The company seeks to fulfill carefully selected, unmet medical needs in the therapeutic areas of neuroscience, cardio-metabolic, influenza vaccines, gastroenterology, and men’s and women’s health. Its 2006 sales were EUR 2.6 billion and it employs approximately 10000 people worldwide. For more information, visit solvaypharmaceuticals.com.
SOLVAY is an international chemical and pharmaceutical Group with headquarters in Brussels. It employs some 30000 people in 50 countries. In 2006 its consolidated sales amounted to EUR 9.4 billion generated by its three activity sectors: Chemicals, Plastics and Pharmaceuticals. SOLVAY (Euronext: SOLB.BE – Bloomberg: SOLB.BB – Reuters: SOLBt.BR) is listed on the Euronext stock exchange in Brussels. Details are available at www.solvay.com.