Source: Business Wire
Friday, July 02, 2010 10:55 AM IST (05:25 AM GMT)
Editors: General: Consumer interest; Business: Business services, Healthcare, biotechnology & pharmaceutical; Healthcare
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(BW)(APTUIT/GSK)GSK and Aptuit finalize agreement for Aptuit to acquire GSK's research operations in Italy
Augments Aptuit's global, integrated scientific and operational capabilities and preserves scientific expertise at the centre
London, United Kingdom and Greenwich, Connecticut, United States, Friday, July 02, 2010 -- (Business Wire India) --
GlaxoSmithKline (GSK) and Aptuit, Inc. announced that they have finalized an agreement for Aptuit to acquire operations at GSK's Medicines Research Centre in Verona, Italy. The arrangement, which is effective as of July 1, 2010, provides for ongoing employment of the staff at the centre and for Aptuit to supply GSK with R&D services from the facilities. Financial terms have not been disclosed.
Under the agreement, Aptuit will gain the scientific expertise and knowledge at the research centre through the transfer of the facility's approximately 500 staff from GSK to Aptuit. This will help maintain the life sciences research and talent pool in Italy. In addition to becoming an important member of GSK's contract research organization network, acquisition of the operations will also allow Aptuit to provide integrated development services to its global customers.
"Aptuit was built to provide an integrated drug development capability and streamline the drug development process. This is a strategic acquisition of GSK's research business in Verona that further strengthens scientific expertise and capabilities within Aptuit, extending our integrated discovery and development offerings," said Tim Tyson, Chairman and CEO of Aptuit. "This partnership is an example of the developing new model of outsourced R&D collaborations. Verona staff are recognized industry-wide for their drug development expertise and will be an excellent addition to the Aptuit team."
GSK announced in February its proposal to cease discovery research in select neurosciences areas such as pain and depression, which impacted research at the Italian facility.
Moncef Slaoui, Chairman of GSK Research and Development said: "I am pleased that both GSK and Aptuit have developed this innovative approach. It provides a modern option for drug discovery expertise to remain as part of the science research community in Italy and offers the opportunity to assure continuity of employment for the GSK staff at the site. This arrangement would not have been possible without the input of the Italian government and unions."
The Verona Medicines Research Centre expands Aptuit's global footprint to 19 locations - a global network of operations that provides a full suite of development services. The agreement also enhances Aptuit's ability to serve customers working to develop compounds for high-value and strategically important therapeutic areas such as neurosciences discovery and development, as well as cardiovascular and infectious diseases.
Aptuit will combine its existing capabilities with the Verona Medicines Research Centre's expertise in drug discovery, lead optimization, active pharmaceutical ingredient (API) development and manufacturing, and pre-clinical and clinical drug development. This will create a unique, industry-leading drug development capability.
About Aptuit:
Aptuit, Inc. is a global pharmaceutical services company focused on delivering contract development and manufacturing services and streamlining the drug development process for biotechnology and pharmaceutical innovators. Aptuit's employees deliver an integrated suite of product development services to more than 800 companies worldwide, driven by a deep commitment to client service, quality, and an unrivaled track record of scientific excellence. The company is partnered with Welsh, Carson, Anderson & Stowe, one of the world's leading private equity investors. For more information about Aptuit, please visit www.aptuit.com, for more information about Aptuit's acquisition of the Verona Medicines Research Centre operations, please visit http://www.aptuit.com/Verona.
GlaxoSmithKline - one of the world's leading research-based pharmaceutical and healthcare companies - is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For further information please visit www.gsk.com
| Aptuit Enquiries: | ||||||
| Joanna Disley | +44 1244 845700 | |||||
| Krystle Ficco | (617) 761-6702 | |||||
| GlaxoSmithKline Enquiries: | ||||||
| UK Media enquiries: | Philip Thomson | (020) 8047 5502 | ||||
| Claire Brough | (020) 8047 5502 | |||||
| Stephen Rea | (020) 8047 5502 | |||||
| Alexandra Harrison | (020) 8047 5502 | |||||
| Jo Revill | (020) 8047 5502 | |||||
| US Media enquiries: | Nancy Pekarek | (919) 483 2839 | ||||
| Mary Anne Rhyne | (919) 483 2839 | |||||
| Kevin Colgan | (919) 483 2839 | |||||
| Sarah Alspach | (919) 483 2839 | |||||
| European Analyst/Investor enquiries: | David Mawdsley | (020) 8047 5564 | ||||
| Sally Ferguson | (020) 8047 5543 | |||||
| Gary Davies | (020) 8047 5503 | |||||
| US Analyst/ Investor enquiries: | Tom Curry | (215) 751 5419 | ||||
| Jen Hill Baxter | (215) 751 7002 |
| Cautionary statement regarding forward-looking statements |
| Registered in England & Wales: No. 3888792 |
| Registered Office: 980 Great West Road Brentford, Middlesex TW8 9GS |
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CONTACT DETAILS
CONTACTS :
For Aptuit, Inc.
Krystle Ficco, 617-761-6702
krystle.ficco@fkhealth.com
KEYWORDS
CONSUMER, BUSINESS SERVICES, HEALTHCARE, HEALTHCARE
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