TORONTO, July 2 /PRNewswire/ -- Patheon (TSX:PTI), a global provider of drug development and manufacturing services to the international pharmaceutical industry, has completed a shareholders agreement and a sales and marketing agreement with Italy's BSP Pharmaceuticals, a company focussed on the development and manufacturing of cytotoxic pharmaceutical products. Under the terms of the sales and marketing agreement, Patheon will promote BSP's cytotoxic manufacturing capacity and development services. Mr. Aldo Braca, President, Patheon Europe will be President and Chief Executive Officer of BSP Pharmaceuticals. Patheon is in the process of identifying a successor to Mr. Braca and for a transitional period, Mr. Braca will fill both roles.
"Cytotoxic manufacturing represents a major market opportunity, and a capability that Patheon does not have in its network. With these agreements in place, Patheon can now offer its clients a complete suite of services - which now includes cytotoxics - in contract manufacturing and formulation development," said Wes Wheeler, Chief Executive Officer and President.
Cytotoxic products play a significant role in the world's oncology market, which is estimated to be approximately $9.6 billion in the seven major pharmaceutical markets of U.S., U.K., Germany, France, Italy, Spain, and Japan and is expected to reach $12.8 billion by 2009.
About BSP Pharmaceuticals
BSP Pharmaceuticals (http://www.bsppharmaceuticals.com) is a privately held company headquartered in Latina, Italy that serves global pharmaceuticals and biotechnology oriented companies with development and commercial manufacturing services for pharmaceutical products with cytotoxic characteristics. Patheon holds an 18% interest in BSP. The remainder of the company is owned by companies associated with Mr. Braca's family and another private investor.
About Patheon
Patheon Inc. (TSX:PTI; http://www.patheon.com) is a leading global provider of contract development and manufacturing services to the global pharmaceutical industry. Patheon prides itself in providing the highest quality products and services to more than 300 of the world's leading pharmaceutical and biotechnology companies. Patheon's services range from preclinical development through commercial manufacturing of a full array of dosage forms including parenteral, solid, semi-solid and liquid forms Patheon uses many innovative technologies including single-use disposables, Liquid-Filled Hard Capsules and a variety of modified release technologies.
Patheon's comprehensive range of fully integrated Pharmaceutical Development Services includes pre-formulation, formulation, analytical development, clinical manufacturing, scale-up and commercialization. Patheon can take customers direct to clinic with global clinical packaging and distribution services and Patheon's Quick to Clinic(TM) programs can accelerate early phase development project to clinical trials while minimizing the consumption of valuable API.
Patheon's integrated development and manufacturing network of 11 facilities, and 6 development centers across North America and Europe, strives to ensure that customer products can be launched with confidence anywhere in the world.
Caution Concerning Forward-Looking Statements
This news release may contain forward-looking statements which reflect management's expectations regarding the Company's future growth of operations, performance (both operational and financial) and business prospects and opportunities. These statements are made in the context of the risks and uncertainties that are outlined in the Company's public documents, which can be accessed on our website at http://www.patheon.com or on SEDAR at http://www.sedar.com.
For further information: Mr. Wes Wheeler, President & Chief Executive Officer, Tel: +1-905-812-2112, Email: wes.wheeler@patheon.com; Mr. Eric Evans, Chief Financial Officer, Tel: +1-905-812-6660, Email: eric.evans@patheon.com; Ms. Jean Treadwell, Investor Relations, Tel: +1-905-816-8344, Email: jean.treadwell@patheon.com
