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Release issued 13th November 2001
TORONTO, ONTARIO, Nov. 13, 2001 - Miza Pharmaceuticals, Inc., a privately held Canadian pharmaceutical contract manufacturing company with international operations, announced today that it has entered into a definitive agreement to acquire the pharmaceutical manufacturing business of Antigen Holdings Limited, a privately held Irish pharmaceutical company.
Under the agreement, which is subject to certain closing conditions, the transaction is expected to be completed by November 30th, 2001. Upon completion, Antigen will operate as Miza Ireland Limited, a wholly owned subsidiary of Miza Pharmaceuticals, Inc.
Located in Roscrea, Ireland, Antigen specializes in the production of sterile pharmaceutical products including small volume injectable solutions, which are used throughout the world to treat a wide range of disease areas. Antigen was founded in 1946 and currently employs a highly skilled workforce of 320 people. Antigen's current annual revenues approximate $25 million CDN.
As part of this acquisition, Miza has also announced that it has entered into a significant long-term contract manufacturing agreement to supply products from Miza Ireland to Goldshield Group PLC (FTSE: GSD.L). Goldshield is a major United Kingdom-based pharmaceutical marketing company headquartered in Croydon, England and listed on the London Stock Exchange. Founded in 1990, Goldshield sells healthcare and pharmaceutical products internationally and currently has a market capitalization of approximately $500 million CDN.
Dr. Jack Kachkar, President and Chief Executive Officer, Miza Pharmaceuticals, Inc. said, "We are extremely excited by this acquisition as the Miza Ireland business will significantly enhance our niche pharmaceutical manufacturing capabilities and broaden our international customer base. Miza will now have comprehensive sterile fill technologies including both small volume glass and plastic ampoules to complement our existing aseptic manufacturing applications. The Miza Ireland operation makes our Company a major global player in the injectable pharmaceutical manufacturing sector and takes Miza's consolidated revenues to over $100 million CDN annually."
Miza Pharmaceuticals, Inc., headquartered in Toronto, is dedicated to become the premier global supplier of value- added, development-led manufacturing services to the pharmaceutical industry. Miza provides niche development- led contract manufacturing services to the pharmaceutical, biotechnology and medical devices business sectors. Focused on proprietary applications in Blow/Fill/Seal technology and other advanced aseptic pharmaceutical processes, Miza manufactures prescription and OTC ophthalmic solutions; respiratory inhalation devices, including metered dose inhalers, dry powder inhalers and pump sprays; topical aerosols, and sterile hospital solutions. Additionally, Miza provides laboratory and development outsourcing services.
Miza is partly owned by CCL Industries, Inc. CCL Industries (TSE: CCL.B), with revenues of approximately $1.6 billion CDN, is a creative, outsourcing partner to some of the world's largest producers of consumer brands, helping them to get their products to market quickly and cost-effectively. Areas of expertise include custom manufacturing; state-of-the-art packaging solutions, including specialty aluminum and plastics packaging; and innovative product labeling. CCL develops solutions for producers of leading consumer brands in personal care, cosmetic, pharmaceutical, household and specialty food products. With headquarters in Toronto, Canada, CCL employs 7,500 people and operates 33 production facilities in North and Central America and Europe.
Statements contained in this Press Release, other than statements of historical facts, are forward-looking statements subject to a number of uncertainties that could cause actual events or results to differ materially from some statements made.
Visit Miza Pharmaceuticals, Inc. on the Internet at www.miza.com Visit CCL Industries Inc. on the Internet at www.cclind.com
For further information, please contact: John Van Schepen, Vice President, Finance Miza Pharmaceuticals, Inc. Tel: (416) 927-0600 E-mail: john.vanschepen@miza.com
If you want to find out more about the company visit Miza Pharmaceuticals (UK) Ltd profile.
(28th August 2002) Miza Pharmaceuticals (UK) Limited signs $23 million USD financing deal with GMAC Commercial Credit Limited.
(20th September 2001) Miza agreement with Connetics Corporation to provide manufacturing and development services
(1st May 2001) Miza Acquires CCL Industries Pharmaceutical Business Unit
(5th April 2000) New HFA MDI Manufacturing Facility at CCL
(10th January 2000) HFA MDI developments at CCL Pharmaceuticals