- Agreement will enable HGS to generate revenue from available
manufacturing capacity -
- Revenue potential from manufacturing alliances, including the alliance
with Hospira, could amount to $30-60 million over the next three to four
years -
ROCKVILLE, Md., Sept. 4 /PRNewswire-FirstCall/ -- Human Genome
Sciences, Inc. (Nasdaq: HGSI) today announced that it has entered into an
exclusive agreement with Hospira, Inc., for manufacturing process
development and commercial supply of select Hospira biopharmaceutical
products. Financial terms were not disclosed, and specific products were
not identified.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080416/HGSLOGO )
"We look forward to using our company's world-class manufacturing
facilities, quality systems and process development capabilities to help
advance and supply biopharmaceutical products for Hospira. We are pleased
to be chosen by a company of Hospira's stature for such an important role,"
said Curran Simpson, Senior Vice President of Operations, HGS. "The
priority focus of HGS continues to be the commercialization of our lead
products. Agreements such as the one announced today will produce near-term
revenue from available manufacturing capacity. We see potential for $30-60
million in revenue from manufacturing alliances, including this alliance
with Hospira, over the next three to four years."
Protein and antibody process development and manufacturing are core HGS
competencies. The Company currently produces several protein and antibody
drugs in two state-of-the-art cGMP-compliant process development and
manufacturing facilities -- totaling approximately 400,000 square feet and
offering both small-scale and large-scale production in batches from 650-
20,000 liters.
"The manufacturing alliance with HGS is an excellent strategic
partnership for both companies and is representative of Hospira's
commitment to meet future demand for high-quality, cost-effective
alternatives to proprietary biopharmaceuticals," said John Lane, Vice
President, Biologics, Hospira, Inc. "By securing access to HGS'
leading-edge technology in late-stage process development and large-scale
biopharmaceutical manufacturing capability, we also defer the immediate
need to invest in additional Hospira facilities for the manufacture of
these biologic products."
In addition to the agreement with Hospira announced today, HGS entered
into a marketing services agreement with Eden Biodesign Ltd. in mid-August
2008, under which Eden Biodesign will assist HGS in identifying other
large- scale manufacturing and late-stage process development clients.
About Hospira
Hospira, Inc. is a global specialty pharmaceutical and medication
delivery company dedicated to Advancing Wellness(TM). As the world leader
in specialty generic injectable pharmaceuticals, Hospira offers one of the
broadest portfolios of generic acute-care and oncology injectables, as well
as integrated infusion therapy and medication management solutions. Through
its products, Hospira helps improve the safety, cost and productivity of
patient care. The company is headquartered in Lake Forest, Ill., and has
more than 14,000 employees. Learn more at http://www.hospira.com.
About Human Genome Sciences
The mission of HGS is to apply great science and great medicine to
bring innovative drugs to patients with unmet medical needs. The HGS
clinical development pipeline includes novel drugs to treat hepatitis C,
lupus, inhalation anthrax, cancer and other immune-mediated diseases. The
Company's primary focus is rapid progress toward the commercialization of
its two key lead drugs, Albuferon(R) (albinterferon alfa-2b) for hepatitis
C and LymphoStat-B(R) (belimumab) for lupus. Phase 3 clinical trials of
both drugs are ongoing.
ABthrax(TM) (raxibacumab) is in late-stage development for the
treatment of inhalation anthrax, and the Company is on track to begin the
delivery in fall 2008 of 20,000 doses of ABthrax to the Strategic National
Stockpile under a contract entered into with the U.S. Government in June
2006. HGS also has three drugs in clinical development for the treatment of
cancer, including two TRAIL receptor antibodies and a small-molecule
antagonist of IAP (inhibitor of apoptosis) proteins. In addition, HGS has
substantial financial rights to certain products in the GSK clinical
development pipeline.
For more information about HGS, please visit the Company's web site at
http://www.hgsi.com. Health professionals and patients interested in clinical
trials of HGS products may inquire via e-mail to clinical_trials@hgsi.com
or by calling HGS at (301) 610-5790, extension 3550.
HGS, Human Genome Sciences, ABthrax, Albuferon and LymphoStat-B are
trademarks of Human Genome Sciences, Inc.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. The
forward-looking statements are based on Human Genome Sciences' current
intent, belief and expectations. These statements are not guarantees of
future performance and are subject to certain risks and uncertainties that
are difficult to predict. Actual results may differ materially from these
forward-looking statements because of the Company's unproven business
model, its dependence on new technologies, the uncertainty and timing of
clinical trials, the Company's ability to develop and commercialize
products, its dependence on collaborators for services and revenue, its
substantial indebtedness and lease obligations, its changing requirements
and costs associated with facilities, intense competition, the uncertainty
of patent and intellectual property protection, the Company's dependence on
key management and key suppliers, the uncertainty of regulation of
products, the impact of future alliances or transactions and other risks
described in the Company's filings with the Securities and Exchange
Commission. In addition, the Company will continue to face risks related to
animal and human testing, to the manufacture of ABthrax and to FDA
concurrence that ABthrax meets the requirements of the ABthrax contract. If
the Company is unable to meet the product requirements associated with the
ABthrax contract, the U.S. government will not be required to reimburse the
Company for the costs incurred or to purchase any ABthrax doses. Existing
and prospective investors are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of today's date.
Human Genome Sciences undertakes no obligation to update or revise the
information contained in this announcement whether as a result of new
information, future events or circumstances or otherwise.
SOURCE Human Genome Sciences, Inc.
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Related links:
http://www.hgsi.com
http://www.hospira.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20080416/HGSLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
http://www.prnewswire.com/comp/121115.html /
CONTACT:
Media, Jerry Parrott, Vice President,
Corporate Communications, +1-301-315-2777, or Investors, Tim
Barabe, Senior, Vice President and Chief Financial Officer,
+1-301-315-1780, both of Human Genome Sciences
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