BioNext Project(TM) Will Make Rhode Island Manufacturing Center
The Largest Site for Cell Culture Manufacturing Capacity in the World
SEATTLE, Aug. 14 /PRNewswire/ -- Immunex Corporation (Nasdaq: IMNX) today
announced that it plans to initiate construction of a new manufacturing plant
in West Greenwich, Rhode Island, pending approval of appropriate permits.
Once the new building is completed, the site will comprise the largest cell
culture manufacturing center in the world.
"We expect the BioNext Project will bring the fourth facility producing
ENBREL online in 2005 and it is a key element of the execution of our
strategic plan designed to satisfy growing demand in existing and emerging
markets," said Peggy Phillips, executive vice president and chief operating
officer at Immunex. "The construction of this new plant will make Immunex one
of the world's leaders in biotechnology manufacturing, a key goal given the
success of our marketed products and our need for manufacturing pipeline
products in the future. We appreciate the welcome we have received from the
State of Rhode Island and the West Greenwich township."
The BioNext Project involves an investment of approximately $500 million
to construct the new facility, which will house the largest bioreactors ever
used in the industry. Conceptual design of the facility is complete and the
company anticipates beginning construction in the fourth quarter of this year,
pending receipt of appropriate zoning and environmental permits. The project
is expected to be licensed by regulatory authorities in 2005.
"The BioNext Project demonstrates our commitment to continuous process
improvements and capital investments that increase yields and production
capacity -- these are the cornerstones of successful biotechnology
manufacturing operations," said Efi Cohen Arazi, senior vice president of
supply operations at Immunex.
The BioNext Project will add to three other facilities that are producing
or will produce ENBREL. Currently, Immunex is working with Wyeth-Ayerst
Pharmaceuticals, a division of American Home Products Corporation (NYSE: AHP)
to retrofit an existing manufacturing facility on the West Greenwich, RI site.
AHP purchased the facility in 1999 to help meet the growing market demand for
ENBREL. AHP has agreed to sell the site to Immunex. AHP also is building a
facility in Grange Castle, Ireland that will manufacture ENBREL. ENBREL is
currently produced by a contract manufacturer in Germany.
Immunex Corporation is a leading biopharmaceutical company dedicated to
improving lives through immune system science innovations.
NOTE: Except for the historical information contained herein, this news
release contains forward-looking statements that involve substantial risks and
uncertainties. Among the factors that could cause actual results or timelines
to differ materially are risks associated with research and clinical
development, regulatory approvals, our supply capabilities and reliance on
third-party manufacturers, product commercialization, competition, litigation
and other risk factors listed from time to time in reports filed by Immunex
with the SEC, including but not limited to risks described under the caption
"Important Factors That May Affect Our Business, Our Results of Operations and
Our Stock Price" within our most recently filed Form 10-Q. The
forward-looking statements contained in this news release represent our
judgment as of the date of this release. Immunex undertakes no obligation to
publicly update any forward-looking statements. An electronic version of this
news release -- as well as additional information about Immunex of interest to
investors, customers, future employees and patients -- is available on the
Immunex home page at http://www.immunex.com.
SOURCE Immunex Corporation
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CONTACT:
media, Cathy Keck-Anderson, +1-206-389-4039,
or investors, Mark Leahy, +1-206-389-4363, both of Immunex
Corporation
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