Large-scale Manufacturing Facility Next Step in Strategy To
Increase Long-term Supply of ENBREL(R) (etanercept)
West Greenwich, R.I., Nov. 28 /PRNewswire/ --
Today, Immunex Corporation (Nasdaq: IMNX) breaks ground for the
BioNext Project(TM), a new manufacturing plant in West Greenwich, Rhode
Island. It will be dedicated to the production of ENBREL(R) (etanercept), and
ultimately new products currently in development. This new facility will
expand supply capacity for ENBREL, which is among the top five pharmaceutical
products ever in terms of sales within the first two years of launch.
More than 300 employees and community leaders are taking part in the
celebration. Speakers include Rhode Island Governor Lincoln Almond;
Ed Fritzky, Immunex chairman, CEO and president; Peggy Phillips, Immunex
executive vice president and chief operating officer; and West Greenwich Town
Council President Thaylen Waltonen.
"Over the past six years, we've made it a priority to diversify our
economy. We identified biotechnology as one of our state's growth
industries," said Rhode Island Governor Lincoln Almond. "We've put incentives
in place to ensure that Rhode Island is fertile ground for high-tech, cutting
edge business to locate. When a company like Immunex chooses to establish
roots and branch out in Rhode Island, that's proof positive that we're
achieving our goal."
Once the facility is completed, the site will be one of the most advanced
cell culture manufacturing centers in the world and employ up to 700 workers.
The BioNext Project illustrates the rapid evolution of the biotechnology
industry and the extraordinary investment companies must make in order to meet
surging demand for breakthrough health care products.
"Manufacturing is a key goal given the success of our marketed products
and our need for manufacturing pipeline products in the future," said
Peggy Phillips. "The BioNext Project is a key element of our strategic plan to
satisfy growing demand in existing and emerging markets."
The new facility, an investment of approximately $500 million, will be
built alongside an existing manufacturing plant scheduled to be acquired by
Immunex on or about January 1, 2002. The existing plant's owner, Greenwich
Holdings Inc., a division of American Home Products Corporation (NYSE: AHP),
has been working with Immunex to retrofit the facility to produce ENBREL. In
total, Immunex will have invested around $1 billion in manufacturing in
Rhode Island.
"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.
When the new facility comes online, following the US Food and Drug
Administration (FDA) approval expected to occur in 2005, it will likely be the
fourth plant to produce ENBREL. American Home Products is also building a
facility in Grange Castle, Ireland at which it intends to manufacture the
drug. 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.
BioNext Project(TM) Plans
-- These new facilities will be a total of 500,000 gross square feet and
will include a production building, warehouse, central utility plant,
and a quality laboratory.
-- Estimated cost: approximately $500 million.
-- When completed, Immunex will employ up to 350 biotechnology workers at
this facility, bringing total employment at the new biotech
manufacturing center to up to 700.
-- The BioNext Project will support 20,000 liter bioreactors -- the
largest bioreactors ever used in commercial cell culture product
manufacturing. (Currently, 95 percent of the biotech industry uses
100-2,000 liter bioreactors for commercial manufacturing.)
-- The plant will be designed to use a new generation process technology
developed by the Immunex process science group for EBREL and other
products.
-- FDA approval is estimated in 2005. (FDA approval is never guaranteed;
and Immunex cannot assure that any of its estimated dates relating to
the Rhode Island facility will prove accurate.)
The BioNext Project design and construction teams include the following
firms:
-- Edward Rouse Architects, Providence, RI Architects
-- Kvaerner/Kinetics, Bridgewater, NJ Engineer Architects
-- Turner Construction, Boston, MA Construction Manager
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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Related links:
http://www.immunex.com
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/434644.html
CONTACT:
media, Josh Schroeter, +1-206-389-4335, or
investors, Mark Leahy, +1-206-389-4363, both of Immunex
Corporation
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