| By Lonza Group |
| Thursday, 15 October 2009 |
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Lonza Group AG ("Lonza") and the Special Committee of Independent Directors of Patheon Inc. ("Patheon" or the "Company") (TSX:PTI)
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today announced the extension of the exclusivity period granted to Lonza by Patheon, which had been scheduled to expire today. The extension allows for continued discussions regarding possible strategic transactions between Patheon and Lonza.
The period of exclusivity will continue until terminated by either party by notice to the other. Other terms of the exclusivity arrangements will continue to apply.
Lonza and Patheon are continuing to explore various strategic options that are in the best interests of the two companies. In view of the announced position of JLL Patheon Holdings LLC ("JLL") that it is not prepared to sell its shares of Patheon at this time, these discussions include potential transactions that do not require the sale of JLL's shares.
There can be no assurance that any transaction involving the Company and Lonza will be completed or as to the terms of any such transaction. Lonza has strong capabilities in large |
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and small molecules, peptides, amino acids and niche bioproducts which play an important role in the development of novel medicines and healthcare products. Lonza is a leader in cell-based research, endotoxin detection and cell therapy manufacturing. Lonza is also a leading provider of value chemical and biotech ingredients to the nutrition, hygiene, preservation, agro and personal care markets.
Lonza is headquartered in Basel, Switzerland and is listed on the SIX Swiss Exchange. In 2008, Lonza had sales of CHF 2.937 billion.
About Patheon
Patheon Inc. 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 |
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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™ 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.
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