SkyePharma Announces Update on Manufacturing Alliance with Aenova
SkyePharma PLC announces that the Alliance with the Aenova Group, disclosed on 1 August 2011, is now effective.
- (1888PressRelease) August 18, 2011 - Aenova France SAS ("Aenova"), a wholly-owned subsidiary of Aenova Holding GmbH, a German-based pharmaceutical contract manufacturing organisation, has leased the entire pharmaceutical manufacturing business ("Manufacturing Business") and the premises at Saint Quentin-Fallavier, Lyon (together the "Facility") for an initial period of two years, extendable for a further three years. During the lease period the parties may have further discussions to extend the Alliance beyond the fifth anniversary.
The Alliance will provide Aenova with access to an FDA-registered pharmaceutical manufacturing facility which has significant available capacity and SkyePharma will benefit from rental income from Aenova. By introducing additional products to the Facility, the Alliance aims to increase utilisation rates and reduce the dependency on relatively few products and the risk of losses in the Manufacturing Business.
The Manufacturing Business has been transferred to Aenova as a going concern, including all employees, raw materials and work in progress. The financial effect has been backdated as if the Alliance had commenced on 1 July 2011. Further information is set out in the announcement of 1 August 2011.
For further information please contact:
SkyePharma PLC
Axel Müller, Chief Executive Officer
Peter Grant, Chief Financial Officer
+44 207 881 0524
Singer Capital Markets Limited
Shaun Dobson / Claes Spång
+44 203 205 7500
Financial Dynamics
Jonathan Birt /Sue Quigley
+44 207 831 3113
About SkyePharma PLC
Using its proprietary drug delivery technologies, SkyePharma develops new formulations of known molecules to provide a clinical advantage and life-cycle extension. The Group has twelve approved products in the areas of oral, inhalation and topical delivery. The Group's products are marketed throughout the world by leading pharmaceutical companies.
About the Facility
The Facility is an FDA/EMEA registered pharmaceutical manufacturing facility in France near Lyon. Built in the mid 1990s, with a significant extension completed in 2008, it offers capacity and capability for the manufacture of several solid dosage forms. In addition to standard manufacturing capabilities, the Facility offers several specialised capabilities and capacity:
* Advanced tablet production: bi-layer, tri-layer, and core/coating
* Granulation/drying: large capacity up to 1,200 litre with multiple lines
* Microfluidisation and large capacity pan coating
About Aenova
Aenova Holding GmbH was formed in 2008 through the merger of two high profile mid-sized companies: Dragenopharm Apotheker Püschl GmbH and SWISS CAPS AG. As a result of this merger the Aenova Group belongs today to the leading manufacturers and suppliers of pharmaceutical and health supplements in modern oral dosage forms such as soft gelatine capsules, hard capsules, tablets, film tablets, sugar coated tablets, and effervescence tablets for the Pharma and Healthcare industries. The Aenova Group generates annual sales of approx. €250m and has 1500 employees across its sites in Germany (Tittmoning, Berlin, Bad Aibling, Warstein), Switzerland (Kirchberg and Bioggio), Romania (Cornu) and in the USA (Miami). The Aenova Group, with its HQ in Paehl, thereby offers its customers a Full-Service-Portfolio covering development, purchasing raw materials, production and analysis, through to packaging and logistics.
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