Niro divests APS Contract Manufacturing Facility |
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Press Release - for immediate release Columbia Maryland US -September 30, 2002 - Niro Inc. announces that it has divested Atlantic Pharmaceutical Services (APS) Inc., its pharmaceutical contract manufacturing subsidiary to the US subsidiary of UK-based Shire Pharmaceutical Group plc in an all cash transaction. The divestment is a direct result of a realignment of Niro's pharmaceutical contract services strategy to better serve its pharmaceutical development client base as well as to expand its growing core technology formulation development expertise. Through a newly formed group in GEA Pharma Systems, Niro Pharma Technologies (NPT) will focus on technology developments in spray drying and fluid bed systems to support advances in solid drug delivery systems. NPT, which is headed by Dr. Albert Brzeczko, has retained key formulation development personnel from APS's Development Services group to maintain this technology expertise. Contract development services, including formulation development, analytical development, clinical trial supply manufacturing and quality services, will continue to be provided at NPT's 4,500 sq.ft. R&D facility and its 15,000 sqft. CGMP pilot facility, Pharmaceutical Technology Center. Both are located in close proximity to Niro Inc's corporate center in Columbia, MD, which allows for collaborative efforts in core technologies between NPT and the experts at GEA Pharma Systems. Niro looks forward to the challenge of growing this technology initiative and providing to its clients innovative paths towards its product development needs. For further information please contact :
Niro Pharma Technologies |
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