EaglePicher Pharmaceutical Services Acquired by Aptuit
INKSTER, Mich., February 01, 2007 /PRNewswire/ -- EaglePicher Corporation (EaglePicher) today announced that it has sold EaglePicher Pharmaceutical Services, LLC (EP Pharmaceuticals) to Aptuit, Inc. Terms of the deal were not disclosed.
"We continue to improve and grow the businesses in our portfolio," said David Treadwell, president and CEO of EaglePicher. "For our pharmaceutical services business, we determined that Aptuit was a strategic fit, well suited to further develop and support the capabilities of EP Pharmaceuticals with comprehensive drug development services and competencies. Aptuit will make the investments necessary to expand product offerings and engineer a better drug development process."
EP Pharmaceuticals is a leader in the production of active pharmaceutical ingredients and high-potency compounds that are used to produce anti-cancer drugs and other high-potency pharmaceuticals. EaglePicher Pharmaceuticals has supported the cancer research community since 1985.
EP Pharmaceuticals prepares new drug candidates for use in pre-clinical and toxicology studies as well as in clinical trials and commercial use. This process requires specially designed facilities and operating systems to ensure safe handling and prevent cross contaminations with other drugs. Aptuit will upgrade the production facility in Harrisonville, Missouri, extend its range of capabilities, and improve its regulatory profile.
Aptuit, Inc. is a global company focused on streamlining and supporting the drug development process for biotechnology and pharmaceutical innovators. The company was founded by a group of industry experts with extensive market experience who have a track record of building a similar, highly successful company through acquisitions and investment. Aptuit provides a comprehensive suite of product development services and competencies to more than 500 biotechnology and large, fully integrated pharmaceutical innovators worldwide. Currently, the company has more than 2,000 employees, 15 global facilities, and resources to reach 70 countries. Aptuit's mission is to engineer a better drug development process, and is partnered with Welsh, Carson, Anderson & Stowe, one of the world's largest private equity investors. For more information about Aptuit, please visit aptuit.com.
EaglePicher Pharmaceutical Services, formerly Midwest Research Institute (MRI), is a leading producer of active pharmaceutical ingredients and high- potency compounds. In addition to its products, EaglePicher Pharmaceutical provides support in radiolabeling, early-to-late-stage product development, analytical aid and other services. EaglePicher Pharmaceutical employs approximately 60 people and has facilities in Lenexa, Kansas and Harrisonville, Missouri.
EaglePicher Corporation, based in Inkster, Mich., operates businesses in automotive, defense, space, commercial power, nuclear, semi-conductors, filtration, and medical. Its other companies include Hillsdale Automotive, LLC; Wolverine Advanced Materials, LLC; EP Boron, LLC; EaglePicher Technologies, LLC; EaglePicher Medical Power, and EP Minerals, LLC. For more information, visit www.eaglepicher.com.
CONTACT: Maria Leonhauser, +1-313-567-5080, or , forEaglePicher Corporation leonhauser@franco.com
Web site: http://www.eaglepicher.com/http://aptuit.com/
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