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Groupe Novasep to Acquire PharmaChem Technologies (Grand Bahama) Ltd
Date:9/18/2007

Combined Company Will Become one of the Leading Suppliers for the Life

Science Industries

POMPEY, France, September 18 /PRNewswire/ -- Groupe Novasep announced today that the company is finalizing discussions to acquire Bahamas-based PharmaChem Technologies (Grand Bahama) Ltd for an undisclosed amount.

The combination of Novasep and PharmaChem responds to their shared vision of becoming the leading global supplier for the Life Sciences industries, built upon unique synergies between these technology-driven companies.

Customers worldwide will now benefit from Novasep's top-notch R&D capabilities and innovative technologies along with PharmaChem's ample manufacturing capacity to produce smart APIs and intermediates.

"This acquisition reinforces our position of leadership as a global supplier of active molecules for the Life Sciences, produced in economical conditions as to comply with health, environment, and quality standards of the highest levels" commented Roger-Marc Nicoud, President of Group Novasep, and added "Groupe Novasep intends to continue developing PharmaChem's activities and to build synergies with our Synthesis and Process businesses".

Pietro Stefanutti, founder and President of PharmaChem will assume, in addition to his current responsibilities, the role of Chairman of the Board of the combined company while Mr. Nicoud will remain as President and Chief Executive Officer of Groupe Novasep. Mr. Stefanutti stated "We are very pleased to be joining Novasep in their quest to become the first-choice partner of the Life Sciences industries. Our commitment is to contribute and improve the health of the world's population".

PharmaChem's facility, based in Freeport, Bahamas is a cGMP compliant and FDA inspected plant with strong growth potential. This modern facility currently manufactures the leading antiretroviral API for a major Nasdaq-100 company committed to the treatment of HIV/AIDS worldwide.

Once the transaction is complete both companies will continue to operate under their current entity names and management structure.

About Groupe Novasep

With its headquarters near Nancy (in Eastern France), is a leading partner for the pharmaceutical, food, cosmetics, agrochemicals, and specialty chemicals industries through its two business segments - Novasep Process and Novasep Synthesis. Both strategic businesses are complementary organizations with skills designed to provide technically optimized and economical solutions for the life-science sector and related industries.

About PharmaChem Technologies Limited

PharmaChem Technologies (Grand Bahama) Ltd. is a privately held Bahamian company producing bulk Active Pharmaceutical Ingredients and Registered Intermediates. These products are used everyday to save lives in the whole world and make it a better place to live. PharmaChem's plant which was initially established in 1967 by Syntex Pharmaceuticals and acquired by the current owners in September 2003 is located on a 62 acre facility, of which 22 acres are currently developed, and has benefited over the years from several major upgrades making it a modern facility with an excellent cGMP history, with room for further expansion. The Freeport location gives PharmaChem Technologies a geographical position to easily supply its existing customers in the USA, and with Freeport's own deep water transhipment container port and international airport, the ability to supply customers globally.

Press contact

Groupe Novasep

Mr Jean-Marc Le Rudulier

Marketing & Communication Director

Groupe Novasep

82 Bd de la Moselle -B.P. 50

54340 Pompey - France

Tel : +33-(0)3-83-49-71-46

Mob : +33-(0)6-87-69-06-57

jean-marc.le.rudulier@novasep.com

Press contact

PharmaChem Technologies

Mr Randy Thompson

PharmaChem

West Sunrise Highway

Freeport, Grand Bahama Island

The Bahamas

Tel : +1-242-688-2511

rthompson@pharmachemtech.com


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SOURCE Groupe Novasep
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