2007-09-18

Groupe Novasep to Acquire PharmaChem Technologies (Grand Bahama) Ltd


Pompey, France (ots/PRNewswire) -

- Combined Company Will Become one of the Leading Suppliers forthe Life Science Industries

Groupe Novasep announced today that the company is finalizingdiscussions to acquire Bahamas-based PharmaChem Technologies (GrandBahama) Ltd for an undisclosed amount.

The combination of Novasep and PharmaChem responds to their sharedvision of becoming the leading global supplier for the Life Sciencesindustries, built upon unique synergies between thesetechnology-driven companies.

Customers worldwide will now benefit from Novasep's top-notch R&Dcapabilities and innovative technologies along with PharmaChem'sample manufacturing capacity to produce smart APIs and intermediates.

"This acquisition reinforces our position of leadership as aglobal supplier of active molecules for the Life Sciences, producedin economical conditions as to comply with health, environment, andquality standards of the highest levels" commented Roger-Marc Nicoud,President of Group Novasep, and added "Groupe Novasep intends tocontinue developing PharmaChem's activities and to build synergieswith our Synthesis and Process businesses".

Pietro Stefanutti, founder and President of PharmaChem willassume, in addition to his current responsibilities, the role ofChairman of the Board of the combined company while Mr. Nicoud willremain as President and Chief Executive Officer of Groupe Novasep.Mr. Stefanutti stated "We are very pleased to be joining Novasep intheir quest to become the first-choice partner of the Life Sciencesindustries. Our commitment is to contribute and improve the health ofthe world's population".

PharmaChem's facility, based in Freeport, Bahamas is a cGMPcompliant and FDA inspected plant with strong growth potential. Thismodern facility currently manufactures the leading antiretroviral APIfor a major Nasdaq-100 company committed to the treatment of HIV/AIDSworldwide.

Once the transaction is complete both companies will continueto operate under their current entity names and management structure.

About Groupe Novasep

With its headquarters near Nancy (in Eastern France), is a leadingpartner for the pharmaceutical, food, cosmetics, agrochemicals, andspecialty chemicals industries through its two business segments -Novasep Process and Novasep Synthesis. Both strategic businesses arecomplementary organizations with skills designed to providetechnically optimized and economical solutions for the life-sciencesector and related industries.

About PharmaChem Technologies Limited

PharmaChem Technologies (Grand Bahama) Ltd. is a privately heldBahamian company producing bulk Active Pharmaceutical Ingredients andRegistered Intermediates. These products are used everyday to savelives in the whole world and make it a better place to live.PharmaChem's plant which was initially established in 1967 by SyntexPharmaceuticals and acquired by the current owners in September 2003is located on a 62 acre facility, of which 22 acres are currentlydeveloped, and has benefited over the years from several majorupgrades making it a modern facility with an excellent cGMP history,with room for further expansion. The Freeport location givesPharmaChem Technologies a geographical position to easily supply itsexisting customers in the USA, and with Freeport's own deep watertranshipment container port and international airport, the ability tosupply customers globally.

Press contact Groupe Novasep Mr Jean-Marc Le Rudulier Marketing & Communication Director Groupe Novasep 82 Bd de la Moselle -B.P. 50 54340 Pompey - France Tel : +33-(0)3-83-49-71-46 Mob : +33-(0)6-87-69-06-57 jean-marc.le.rudulier@novasep.com Press contact PharmaChem Technologies Mr Randy Thompson PharmaChem West Sunrise Highway Freeport, Grand Bahama Island The Bahamas Tel : +1-242-688-2511 rthompson@pharmachemtech.com

ots Originaltext: NovasepIm Internet recherchierbar: http://www.presseportal.de

Contact:Press contact: Groupe Novasep: Mr Jean-Marc Le Rudulier, Marketing & Communication Director, Groupe Novasep, 82 Bd de la Moselle -B.P. 50,54340 Pompey - France, Tel : +33-(0)3-83-49-71-46, Mob : +33-(0)6-87-69-06-57, jean-marc.le.rudulier@novasep.com; Press contact: PharmaChem Technologies: Mr Randy Thompson, PharmaChem, WestSunrise Highway, Freeport, Grand Bahama Island, The Bahamas, Tel : +1-242-688-2511, rthompson@pharmachemtech.com

Novasep

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