- 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
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.
"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.
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 email@example.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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