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Synovics Pharmaceuticals Announces Execution of Hormonal Manufacture and Supply Contract
Date:6/24/2008

FORT LAUDERDALE, Fla., June 24 /PRNewswire-FirstCall/ -- Synovics Pharmaceuticals, Inc. (OTC Bulletin Board: SYVC), a specialty pharmaceutical company, today announced that its wholly owned subsidiary, ANDAPharm, LLC (ANDAPharm) signed a contract with a leading pharmaceutical company for the manufacturing and supply of a hormonal prescription drug. The potential annual sales by ANDAPharm with this product, including an earlier contract with a second pharmaceutical company, are between $7.5 million and $8 million.

"ANDAPharm's sales are an outgrowth of our investment in a specialized containment suite at our facility in Ft. Lauderdale for manufacturing and packaging of hormonal and other products requiring specialized facilities and handling," stated John S. Copanos, ANDAPharm's founder and VP of Business Development for Synovics. "We are very pleased with the success of this product and are looking forward to the possibility of further supply contracts for drugs produced in this containment suite. We have several hormonal prescription drugs under various stages of development and view this specialized category as a unique opportunity for our Company. Specifically, we expect to launch our second generic prescription hormonal, subject to anticipated authorization by the FDA, between the third and fourth quarters of this year, and we have our third hormonal drug in bio-studies for submission to the FDA. We are acquiring two additional hormonal drugs via technology transfers and intend to continue to develop and grow our pipeline of these products as we leverage our containment suite capacity and build this business with our productive and experienced staff."

"The Company's specialized containment suite allows us to focus on the development and commercialization of products that have a higher barrier to entry and, therefore, potentially less competition," commented Ronald Howard Lane, Ph.D., Synovics' Chairman and Chief Executive Officer. "Our plans
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SOURCE Synovics Pharmaceuticals, Inc.
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