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news.Albany Molecular Research or AMRI has completed the acquisition of FineKem Laboratories, a manufacturing facility located in Aurangabad, India.
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This acquisition is expected to significantly accelerate AMRI’s ability to make custom pilot scale intermediates in India, which is expected to commence in the Q2 of 2008. AMRI intends to implement upgrades over the next few months to bring the existing facilities into compliance with FDA regulations for manufacturing clinical trial materials and commercial drug substances. Anticipated costs related to purchase and upgrades are not expected to be material to AMRI’s results of operations or financial position.
Thomas D’Ambra, AMRI’s chairman, president and CEO, said: “We are pleased to announce the addition of this new product offering. As we continue to explore and expand the ability of AMRI to provide value and flexibility around the globe, the purchase of this site increases the cost-competitive solutions available to our customers for their outsourcing needs.”